The Vision Statement Answers Which of the Following Questions
The vision statement answers which of the following questions?
A)What is our business?
B)How can we increase profitability?
C)Who are our stakeholders?
D)How can we improve ourselves?
E)What do we want to become?
Which of these examples of a mission statement's focus area is not effective?
A)Starbucks focuses on the café experience rather than coffee.
B)Union Pacific focuses on transportation rather than railroads.
C)Exxon/Mobil focuses on oil and gas rather than energy.
D)Universal Studios focuses on entertainment rather than movies.
E)AT&T focuses on communication rather than telephones.
According to Drucker,when is the best time to develop a mission statement?
A)When the firm is in legal trouble
B)Before a business is opened
C)When the firm is successful
D)When the firm encounters competition
E)When the firm is in financial trouble
According to the comprehensive strategic- management model,which step needs to be completed immediately following the establishment of long- term objectives?
A)Performing internal audits
B)Generating,evaluating,and selecting strategies
C)Measuring and evaluating performance
D)Developing vision and mission statements
E)Performing external audits