Question 1

Recently, many organizations have added ________ to their mission statements.
A) a business definition
B) a social element to reflect an ideal that is morally right and worthwhile
C) an economic element to promote profit maximization
D) an expanded definition of stakeholders to include its competitors
E) their level of pricing and product quality

Accepted Answer

Many organizations have recently incorporated a social element into their mission statements to reflect ideals that are morally right and worthwhile, aligning with broader societal values and expectations.

Question 2

An organization's mission refers to
A) the target goal it sets for current profits based on enacting a comprehensive strategic plan.
B) the target objective it projects for future market share based on enacting a comprehensive strategic plan.
C) the fundamental, passionate, and enduring principles that guide its conduct over time.
D) specific strategies and tactics that will be used to counteract any competitor's advantages.
E) a statement of the organization's functions in society that often identifies its customers, markets, products, and technologies.

Accepted Answer

A mission statement defines the organization's purpose and primary objectives, often identifying its customers, markets, products, and technologies.

Question 3

Among the seven ________ at IKEA are humbleness and willpower, leadership by example, daring to be different, and togetherness and enthusiasm.
A) sustainability doctrines
B) goals and objectives
C) core values
D) moral imperatives
E) functional strategies

Accepted Answer

IKEA's core values include principles such as humbleness, willpower, leadership by example, daring to be different, and togetherness and enthusiasm.

Question 4

The ________ for the American Red Cross is "to prevent and alleviate human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors."
A) core benefit proposition
B) business definition
C) sustainability doctrine
D) mission statement
E) customer value proposition

Accepted Answer

The mission statement of an organization defines its purpose and primary objectives, which in this case is to prevent and alleviate human suffering in emergencies.

Question 5

An organization's employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers are its
A) stakeholders.
B) stockholders.
C) competitors.
D) target audience.
E) organizational community.

Accepted Answer

Stakeholders are individuals or groups that have an interest in the organization's activities and outcomes, including employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers.

Question 6

The Ben & Jerry's website states: "Central to the mission of Ben & Jerry's is the belief that all three parts [product mission, economic mission, social mission] must thrive equally in a manner that commands deep respect for individuals in and outside the company and supports the communities of which they are a part." This statement reflects Ben & Jerry's
A) sustainability doctrine.
B) goals and objectives.
C) core values.
D) moral distinctions.
E) functional strategy.

Accepted Answer

This statement reflects Ben & Jerry's core values as it emphasizes the company's commitment to balancing product, economic, and social missions while respecting individuals and supporting communities.

Question 7

Which statement regarding stakeholders is most accurate?
A) Employees are typically not classified as a stakeholder group because they are internal to the organization.
B) There are only three types of stakeholders: customers, suppliers, and distributors.
C) All stakeholders are internal to the organization.
D) Stakeholders are a varied group; all are in some way affected by how well a company performs.
E) Stakeholders are only those that have an ownership stake in an organization.

Accepted Answer

Stakeholders include anyone affected by the company's performance, such as employees, customers, suppliers, and the community, not just those with ownership stakes.

Question 8

One of the qualities of a good mission statement is which of these?
A) idealistic
B) long-term
C) fact-based
D) complex
E) permanent

Accepted Answer

A good mission statement should be long-term, providing a vision and direction for the organization over an extended period.

Question 9

An organization's core values
A) are developed by cross-functional teams for all levels of an organization.
B) are important to the founders but rarely motivate a firm's stakeholders.
C) change as an organization's offerings change.
D) guide the organization's conduct.
E) cannot be separated from the financial realities of that organization.

Accepted Answer

Core values are fundamental beliefs that guide an organization's conduct and decision-making processes. They remain consistent over time and are integral to the organization's identity and culture.

Question 10

By understanding its core values, an organization can take steps to define its ________, a statement of the organization's function in society that often identifies its customers, markets, products, and technologies.
A) customer value proposition
B) doctrine
C) philosophy
D) mission
E) code of ethics

Accepted Answer

The mission statement of an organization outlines its purpose and function in society, often detailing its customers, markets, products, and technologies.

Question 11

All of the following are examples of stakeholders except which?
A) Government
B) Competitors
C) Shareholders
D) Suppliers
E) Customers

Accepted Answer

The answer of All of the following are examples of...

Question 12

A mission statement should be
A) short-term.
B) meaningful.
C) numerical.
D) trademarked.
E) clever.

Accepted Answer

A mission statement should be meaningful as it defines the purpose and values of an organization, guiding its actions and decisions.

Question 13

A set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization is its
A) mission statement.
B) core value proposition.
C) organizational culture.
D) corporate philosophy.
E) core benefit proposition.

Accepted Answer

Organizational culture is a set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization.

Question 14

An organization's core values are most effective when communicated to and supported by
A) competitors.
B) top management and employees.
C) suppliers.
D) resellers.
E) government regulators.

Accepted Answer

Core values are foundational beliefs that guide an organization's actions and decisions. They are most effective when communicated to and supported by top management and employees, as these are the individuals who implement and embody these values in their daily work.

Question 15

The ________ for Facebook is "To give people the power to share and make the world more open and connected."
A) sustainability doctrine
B) core benefit proposition
C) mission statement
D) corporate philosophy
E) code of ethics

Accepted Answer

A mission statement is a formal summary of the aims and values of a company, organization, or individual, which aligns with the description provided for Facebook.

Question 16

The terms ________ and mission statement are often used interchangeably.
A) idea
B) objective
C) vision
D) goal
E) protocol

Accepted Answer

A vision statement and a mission statement are often used interchangeably, although they have distinct purposes. A vision statement outlines what an organization wants to achieve in the future, while a mission statement describes the organization's purpose and primary objectives.

Question 17

"HowAboutWe is the fastest, easiest, most fun way to go on awesome dates" is the ________ for the online dating service that focuses on setting up actual activities as dates for its users.
A) sustainability doctrine
B) core benefit proposition
C) corporate philosophy
D) mission statement
E) code of ethics

Accepted Answer

The statement describes the primary purpose and goal of the service, which aligns with the definition of a mission statement.

Question 18

A mission statement should be all of these except which?
A) Actionable
B) Inspirational
C) Long term
D) Meaningful
E) Concise

Accepted Answer

The answer of A mission statement should be all of...

Question 19

Often used interchangeably with the term vision, a ________ frequently has a meaningful theme and a long-term orientation.
A) point of difference
B) mission statement
C) business definition
D) customer value proposition
E) marketing plan

Accepted Answer

A mission statement often has a meaningful theme and a long-term orientation, similar to a vision, as it outlines the organization's purpose and core values.

Question 20

Employees at fashion apparel company, the Sak Elliot Lucca work to embody its ________, which include trust (being honest and credible), action (making independent decisions), and ownership (treating the company as if one were a founder).
A) sustainability doctrines
B) goals and objectives
C) core values
D) moral imperatives
E) functional strategies

Accepted Answer

The term "core values" refers to the fundamental beliefs or guiding principles of an organization, which in this case include trust, action, and ownership.

Quiz 2: Developing Successful Organizational and Marketing Strategies

Recently, many organizations have added ________ to their mission statements.

An organization's mission refers to

Among the seven ________ at IKEA are humbleness and willpower, leadership by example, daring to be different, and togetherness and enthusiasm.

The ________ for the American Red Cross is "to prevent and alleviate human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors."

An organization's employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers are its

Which statement regarding stakeholders is most accurate?

One of the qualities of a good mission statement is which of these?

An organization's core values

By understanding its core values, an organization can take steps to define its ________, a statement of the organization's function in society that often identifies its customers, markets, products, and technologies.

All of the following are examples of stakeholders except which?

A mission statement should be

A set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization is its

An organization's core values are most effective when communicated to and supported by

The ________ for Facebook is "To give people the power to share and make the world more open and connected."

The terms ________ and mission statement are often used interchangeably.

"HowAboutWe is the fastest, easiest, most fun way to go on awesome dates" is the ________ for the online dating service that focuses on setting up actual activities as dates for its users.

A mission statement should be all of these except which?

Often used interchangeably with the term vision, a ________ frequently has a meaningful theme and a long-term orientation.

Employees at fashion apparel company, the Sak Elliot Lucca work to embody its ________, which include trust (being honest and credible) , action (making independent decisions) , and ownership (treating the company as if one were a founder) .