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Saleh 706 Exam 2 Questions and Answers with Complete
Solutions UPDATED!!!
Mission of the Organization - ANSWER unique purpose that
distinguishes it from other companies and defines the
boundaries of its operations
Mission Statement - ANSWER proclamation of the org primary
objective that encapsulates its core values
Influences on an organization's mission - ANSWER - Corp.
Governance
- Stakeholders
- Business Ethics
- Cultural Context
Corp. Governance - ANSWER influence on the overall direction
of the institution (i.e shareholders
Stakeholders - ANSWER Includes customers, suppliers,
shareholders, employees, financiers, and the social community
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Business Ethics - ANSWER Relates to the corps social
responsibility to stakeholder groups, particularly those who
influence and power is marginal like local community. Subject to
cultural attitudes and beliefs
Cultural Context - ANSWER Aspects of mission that are
prioritized will reflect the cultural environment that surrounds
the corporation. Occurs at several levels: wider national
culturals, individuals in functional areas by their professional
reference groups, internal sub-cultures operating at divisional
or functional level within the company
Narrow Focus - ANSWER Advantage is it provides a clear
description of the org's primary business, but also sets
unnecessary contraints on the company's activities in terms of
markets served, product/service offered or technology
employed
Broad Focus - ANSWER refers to all the various stakeholders in
the business. Can address the problem of giving too narrow a
focus on the business area of operation
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Characteristics of successful mission statements - ANSWER o
Credibility
o Uniqueness
o Specific Capabilities
o Aspirational
SMART goals - ANSWER o Specific
o Measurable
o Aspirational
o Realistic
o Time Scaled
Characteristics of successful objectives - ANSWER oAcceptability
o Flexibility
o Comprehensibility
Hierarchy of objectives - ANSWER o Corporate (3+ years)
o Marketing (3+ years)
o Marketing Mix (1-3 years)
Saleh 706 Exam 2 Questions and Answers with Complete
Solutions UPDATED!!!
Mission of the Organization - ANSWER unique purpose that
distinguishes it from other companies and defines the
boundaries of its operations
Mission Statement - ANSWER proclamation of the org primary
objective that encapsulates its core values
Influences on an organization's mission - ANSWER - Corp.
Governance
- Stakeholders
- Business Ethics
- Cultural Context
Corp. Governance - ANSWER influence on the overall direction
of the institution (i.e shareholders
Stakeholders - ANSWER Includes customers, suppliers,
shareholders, employees, financiers, and the social community
,2|Page
Business Ethics - ANSWER Relates to the corps social
responsibility to stakeholder groups, particularly those who
influence and power is marginal like local community. Subject to
cultural attitudes and beliefs
Cultural Context - ANSWER Aspects of mission that are
prioritized will reflect the cultural environment that surrounds
the corporation. Occurs at several levels: wider national
culturals, individuals in functional areas by their professional
reference groups, internal sub-cultures operating at divisional
or functional level within the company
Narrow Focus - ANSWER Advantage is it provides a clear
description of the org's primary business, but also sets
unnecessary contraints on the company's activities in terms of
markets served, product/service offered or technology
employed
Broad Focus - ANSWER refers to all the various stakeholders in
the business. Can address the problem of giving too narrow a
focus on the business area of operation
, 3|Page
Characteristics of successful mission statements - ANSWER o
Credibility
o Uniqueness
o Specific Capabilities
o Aspirational
SMART goals - ANSWER o Specific
o Measurable
o Aspirational
o Realistic
o Time Scaled
Characteristics of successful objectives - ANSWER oAcceptability
o Flexibility
o Comprehensibility
Hierarchy of objectives - ANSWER o Corporate (3+ years)
o Marketing (3+ years)
o Marketing Mix (1-3 years)
