1
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MNGT 4800 Exam 1 Questions and
Answers (100% Correct Answers) Already
Graded A+
Strategic Management— Ans: An ongoing process companies
use to form a vision, analyze their external environment and their
internal organization, and select one or more strategies to use to
create values for customers and other stakeholders, especially
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shareholders.
Key Characteristics of Strategic Management— Ans: -
Performance oriented
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- Ongoing in nature
- Dynamic rather than static
- Oriented to the present and the future
- Concerned with conditions both outside and inside the firm
- Concerned with performing well and satisfying stakeholders
Structure of Public Corporations (Highest to Lowest)— Ans: -
Shareholders/Owners
- Board of Directors
- CEO
- Top management Team
- Employees
Hierarchy of Goals (Highest to Lowest)— Ans: - Vision
- Mission Statement
- Strategic Objectives
, 2
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Organizational Vision— Ans: The vision contains at least two
components—a mission that describes the firm's DNA and the
"picture" of the firm as it hopes to exist in a future time period
Organizational Vision is:— Ans: - Massively inspiring
- Future-oriented
- Long term
- Informs strategy
Vision Statement— Ans: Overachieving Direction
Mission Statement— Ans: Defines the firm's core intent and the
business or businesses in which it intends to compete
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- Core intent
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- The business or businesses in which it intends to compete
- Stemming from vision, focus on markets and products
more specific than vision statements
- Shorter time horizon
Strategic Objectives and Strategies— Ans: Action plans designed
to move an organization toward achievement of its vision
Disney's Vision Statement— Ans: To be the happiest place on
earth
McDonald's Vision statement— Ans: To give each customer,
every time, an experience that sets new standards in value,
service, friendliness, and quality
Google's Vision Statement— Ans: To organize the world's
information and make it universally accessible and useful
Problems with Visions Statements— Ans: - Walk doesn't match the
talk
- Irrelevance- not anchored in reality
- Not the holy grail- not a magic cure-all
, 3
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- Too focused- leads to missed opportunities
- Past performance predicts future performance
Starbucks Mission Statement— Ans: Establish Starbucks as the
premier purveyor of the finest coffee in the world while
maintaining our uncompromising principles as we grow
Microsoft Mission Statement— Ans: At Microsoft, our mission and
values are to help people and businesses throughout the world
realize their full potential
Amazon's Mission Statement— Ans: Amazon's mission is to build a
place where people can come to find and discover anything
they might want to buy online
© 2025 Assignment Expert
Strategic Objectives— Ans: - Operationalize the mission
statement
- Provide guidance on how the organization can fulfill or move
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towards "higher" goals
- Tend to be specific
- Cover a defined time frame
To effective, strategic objectives should be:— Ans: SMART
SMART— Ans: - Specific
- Measurable
- Appropriate
- Realistic
- Timely
Strategy— Ans: A strategy is an action plan designed to move an
organization toward achievement of its vision
How does a firm formulate a strategy?— Ans: - The industrial
organizational (I/O) model
- The resource-based view (RBV) of the form model
Industrial Organizational (I/O) Model— Ans: - Look outside the
firm
For Expert help and assignment solutions, +254707240657
MNGT 4800 Exam 1 Questions and
Answers (100% Correct Answers) Already
Graded A+
Strategic Management— Ans: An ongoing process companies
use to form a vision, analyze their external environment and their
internal organization, and select one or more strategies to use to
create values for customers and other stakeholders, especially
© 2025 Assignment Expert
shareholders.
Key Characteristics of Strategic Management— Ans: -
Performance oriented
Guru01 - Stuvia
- Ongoing in nature
- Dynamic rather than static
- Oriented to the present and the future
- Concerned with conditions both outside and inside the firm
- Concerned with performing well and satisfying stakeholders
Structure of Public Corporations (Highest to Lowest)— Ans: -
Shareholders/Owners
- Board of Directors
- CEO
- Top management Team
- Employees
Hierarchy of Goals (Highest to Lowest)— Ans: - Vision
- Mission Statement
- Strategic Objectives
, 2
For Expert help and assignment solutions, +254707240657
Organizational Vision— Ans: The vision contains at least two
components—a mission that describes the firm's DNA and the
"picture" of the firm as it hopes to exist in a future time period
Organizational Vision is:— Ans: - Massively inspiring
- Future-oriented
- Long term
- Informs strategy
Vision Statement— Ans: Overachieving Direction
Mission Statement— Ans: Defines the firm's core intent and the
business or businesses in which it intends to compete
© 2025 Assignment Expert
- Core intent
Guru01 - Stuvia
- The business or businesses in which it intends to compete
- Stemming from vision, focus on markets and products
more specific than vision statements
- Shorter time horizon
Strategic Objectives and Strategies— Ans: Action plans designed
to move an organization toward achievement of its vision
Disney's Vision Statement— Ans: To be the happiest place on
earth
McDonald's Vision statement— Ans: To give each customer,
every time, an experience that sets new standards in value,
service, friendliness, and quality
Google's Vision Statement— Ans: To organize the world's
information and make it universally accessible and useful
Problems with Visions Statements— Ans: - Walk doesn't match the
talk
- Irrelevance- not anchored in reality
- Not the holy grail- not a magic cure-all
, 3
For Expert help and assignment solutions, +254707240657
- Too focused- leads to missed opportunities
- Past performance predicts future performance
Starbucks Mission Statement— Ans: Establish Starbucks as the
premier purveyor of the finest coffee in the world while
maintaining our uncompromising principles as we grow
Microsoft Mission Statement— Ans: At Microsoft, our mission and
values are to help people and businesses throughout the world
realize their full potential
Amazon's Mission Statement— Ans: Amazon's mission is to build a
place where people can come to find and discover anything
they might want to buy online
© 2025 Assignment Expert
Strategic Objectives— Ans: - Operationalize the mission
statement
- Provide guidance on how the organization can fulfill or move
Guru01 - Stuvia
towards "higher" goals
- Tend to be specific
- Cover a defined time frame
To effective, strategic objectives should be:— Ans: SMART
SMART— Ans: - Specific
- Measurable
- Appropriate
- Realistic
- Timely
Strategy— Ans: A strategy is an action plan designed to move an
organization toward achievement of its vision
How does a firm formulate a strategy?— Ans: - The industrial
organizational (I/O) model
- The resource-based view (RBV) of the form model
Industrial Organizational (I/O) Model— Ans: - Look outside the
firm
