Test Bank for Sensation and Perception, 3rd Edition by Bennett L. Schwartz.pdf

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ach Concepts and Cases 17th Edition David
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Strategicm Management:m Am Competitivem Advantagem Approach,m17em (David/David)mChap
term2m ThemBusinessmVisionmandmMission

1) A m
statement mspecifiesmamfirm'smcommitment mtomintegrity,mfairness,mdiscipline,m equalmemploymen
t mopportunity,mteamwork,maccountability,mcontinuousmimprovement,mand/ormothermsuchmexemplar
ymattributes.
A) strategy
B) businessmmodel
C) coremvalues
D) stakeholder
E) planning
mAnswer:mC

mDiff:m2

LO:m 2.1:mExplainmthemneed mformcoremvaluemstatementsminmstrategicmmanageme
nt.mAACSB:m Writtenmand moralmcommunication

2) Whichmstatement mismTRUE?
A) Companiesmmust mchoosembetweenmhavingmammissionmstatement mormamvision mstatement.
B) A mcompanymcan't mhavemammissionmstatement munlessmit mhasmamvisionmstatement.
C) A mvisionmstatement mcannot mbemestablished muntilmamcompanymhasmdeveloped mitsmmissi
onmstatement.
D) Themvisionmstatement mshould mbemestablished mbeforemthemmissionmstatement.
E) Companiesmaremrequired mbymlaw mtomhavembothmmissionmand mvisionmstatemen
ts.mAnswer:m D
Diff:m2
LO:m 2.2:mDescribemthemnaturemand mrolemof mvisionmstatementsminmstrategicmmanagement.mAA
CSB:m Writtenmand moralmcommunication

3) Whichmof mthesembasicmquestionsmshould mamvisionmstatement manswer?
A) What mismourmbusiness?
B) What mismourmcoremstrength?
C) What maremourmchallenges?
D) What mdomwemwant mtombecome?
E) Whomaremourmcompetitors
?mAnswer:m D
Diff:m2
LO:m 2.2:mDescribemthemnaturemand mrolemof mvisionmstatementsminmstrategicmmanagement.mAA
CSB:m Writtenmand moralmcommunication




1
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ach Concepts and Cases 17th Edition David
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4) Whichmbest mexpressesmformermColgatemCEO mReubenmMark'smthoughtsmonmvision?
A) It'smbecomingmlessmimportant mthat mamclearmmissionmmakemsensem internationally.
B) It'smessentialmtomdrivemhomemdifferent mmessagesminmdifferent mcultures.
C) Keepingmthemvisionmsimplemwillmnevermrallymeveryone mtomthemcorporatembanner.
D) Pushingmonemvisionmgloballymismessential.
E) Elevated mmissionsmormvisionsmwillmalienateminternationalmmarket
s.mAnswer:m D
Diff:m2
LO:m 2.2:mDescribemthemnaturemand mrolemof mvisionmstatementsminmstrategicmmanagement.mAA
CSB:m Diversemand mmulticulturalmworkmenvironments

5) Whichmtypemof mstatement mshould mbemcreated mfirst mand mforemost?
A) Creed
B) Vision
C) Objective
D) Mission
E) Competitivemadvantage
mAnswer:m B

Diff:m1
LO:m 2.2:mDescribemthemnaturemand mrolemof mvisionmstatementsminmstrategicmmanagement.mAA
CSB:m Writtenmand moralmcommunication

6) Themfoundationmformdevelopment mof mamcomprehensivemmissionmstatement mismprovided mbymamcl
earmvision.
Answer:m TRUEmDif
f:m2
LO:m 2.2:mDescribemthemnaturemand mrolemof mvisionmstatementsminmstrategicmmanagement.mAA
CSB:m Writtenmand moralmcommunication

7) If manmorganizationmchoosesmtomhavembothmammissionmand mamvision,mthemmissionmstatement msho
uld mbemestablished mfirst.
Answer:m FALSEmDi
ff:m2
LO:m 2.2:mDescribemthemnaturemand mrolemof mvisionmstatementsminmstrategicmmanagement.mAA
CSB:m Writtenmand moralmcommunication

8) Anmimportant mquestionmammissionmstatement mshould manswermis,m"What mdomwemwant mtombecome
?"mAnswer:m FALSE
Diff:m1
LO:m 2.2:mDescribemthemnaturemand mrolemof mvisionmstatementsminmstrategicmmanagement.mAA
CSB:m Writtenmand moralmcommunication

9) Inmordermtommotivatemamworkforcemeffectively,mbothmprofit mandmvisionmaremneede
d.mAnswer:m TRUE
Diff:m2
LO:m 2.2:mDescribemthemnaturemand mrolemof mvisionmstatementsminmstrategicmmanagement.mAA
CSB:m Analyticalmthinking
2
Copyright m©m2020 mPearson mEducation,mIn
c.
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, DOWNLOAD THE Test Bank for Strategic Management Competitive Advantage Appro
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ach Concepts and Cases 17th Edition David
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10) A mvisionmstatement mshould manswermthemquestion,m"What mdomwemwant mtombecome
?"mAnswer:m TRUE
Diff:m1
LO:m 2.2:mDescribemthemnaturemand mrolemof mvisionmstatementsminmstrategicmmanagement.mAA
CSB:m Writtenmand moralmcommunication

11) Themidealmlengthmof mamvisionmstatement mis
A) onempage.
B) severalmparagraphs.
C) onemsentence.
D) severalmsentences.
E) asmlongmasmismnecessarymtomconveymthemmessag
e.mAnswer:m C
Diff:m1
LO:m 2.3:mIdentifymthemcharacteristicsmof mamvisionmstatement.mAAC
SB:m Writtenmand moralmcommunication

12) Whichmof mthemfollowingmismNOTmtruemof mvisionmstatements?
A) A mvisionmstatement mshould mrevealmthemtypemof mbusinessmthemfirmmengages.
B) Visionmstatementsmshould mbemwrittenmfrommamcustomermperspective.
C) Visionmstatementsmshould mindicatemthemexpected mamountsmof mprofitsmthemfirmmwantsmtommake.
D) A mvisionmstatement mshould mdescribemamdesired mfuturemstate.
E) Themvisionmstatement mneedsmtombemdoable,mbut mchallengin
g.mAnswer:m C
Diff:m1
LO:m 2.3:mIdentifymthemcharacteristicsmof mamvisionmstatement.mAAC
SB:m Writtenmand moralmcommunication

13) Visionmand mmissionmstatementsmcanmoftenmbemfound minmthemfront mof mannualmrepor
ts.mAnswer:m TRUE
Diff:m1
LO:m 2.3:mIdentifymthemcharacteristicsmof mamvisionmstatement.mAAC
SB:m Writtenmand moralmcommunication

14) Whilemvisionmand mmissionmstatementsmarempart mof mnumerousminternalmreports,mtheymshould mnev
ermbemdisplayed minmamfirm'smpremises.
Answer:m FALSEmDi
ff:m1
LO:m 2.3:mIdentifymthemcharacteristicsmof mamvisionmstatement.mAAC
SB:m Writtenmand moralmcommunication




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c.
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