Deck 5: Vision and Mission Analysis

Question 1

Who is referred to as "the father of modern management"?

A)Cleland
B)Campbell
C)Drucker
D)McGinnis
E)Yeung

Answer 1

C

Question 2

Whereas the mission statement answers the question,"What do we want to become?" the vision statement answers the question,"What is our business?"

Answer 2

False

Question 3

A vision statement should answer the question,"What do we want to become?"

Answer 3

True

Question 4

Well-conceived and properly executed mission and vision statements are not subject to revision.

Question 5

Compare and contrast vision statements with mission statements.

Question 6

What is the first step in the comprehensive strategic-management model?

A)Developing vision and mission statements
B)Performing external audits
C)Performing internal audits
D)Measuring and evaluating performance
E)Establishing long-term objectives

Question 7

An important question a mission statement should answer is,"What do we want to become?"

Question 8

All of the following are mentioned as places where vision and mission statements can often be found EXCEPT

A)SEC reports.
B)annual reports.
C)customer service agreements.
D)supplier agreements.
E)business plans.

Question 9

Which statement is TRUE?

A)Companies must choose between having a mission statement or a vision statement.
B)A company can't have a mission statement unless it has a vision statement.
C)A vision statement cannot be established until a company has developed its mission statement.
D)The vision statement should be established before the mission statement.
E)Companies are required by law to have both mission and vision statements.

Question 10

The purpose of a mission statement is to declare all of these EXCEPT

A)a reason for being.
B)an annual financial plan.
C)a statement of purpose.
D)a statement of beliefs.
E)whom an organization wants to serve.

Question 11

Which of these basic questions should a vision statement answer?

A)What is our business?
B)What is our core strength?
C)What are our challenges?
D)What do we want to become?
E)Who are our competitors?

Question 12

According to Drucker,which question is synonymous with asking "What is our mission?"?

A)What is our business?
B)How can we improve ourselves?
C)What do we want to become?
D)Who are our stakeholders?
E)How can we increase profitability?

Question 13

If an organization chooses to have both a mission and a vision,the mission statement should be established first.

Question 14

In order to motivate a workforce effectively,both profit and vision are needed.

Question 15

Vision and mission statements can often be found in the front of annual reports.

Question 16

The ideal length of a vision statement is

A)one page.
B)several paragraphs.
C)one sentence.
D)several sentences.
E)as long as is necessary to convey the message.

Question 17

While vision and mission statements are part of numerous internal reports,they should never be displayed in a firm's premises.

Question 18

Which type of statement should be created first and foremost?

A)Creed
B)Vision
C)Objectives
D)Mission
E)Competitive advantage

Question 19

Which basic question should the vision statement answer?

A)What is our business?
B)How can we improve ourselves?
C)What do we want to become?
D)Who are our stakeholders?
E)How can we increase profitability?

Question 20

The foundation for development of a comprehensive mission statement is provided by a clear vision.

Question 21

In the process of developing a mission statement,it is important to involve

A)as few managers as possible.
B)as many managers as possible.
C)upper-level management only.
D)lower-level management only.
E)the board of directors only.

Question 22

According to the comprehensive strategic-management model,which step immediately follows the establishment of long-term objectives?

A)Developing vision and mission statements
B)Performing external audits
C)Performing internal audits
D)Generating,evaluating,and selecting strategies
E)Measuring and evaluating performance

Question 23

When developing a vision statement,input should be received from as many managers as possible.

Question 24

A small nonprofit organization would probably develop a vision statement but not a mission statement.

Question 25

As indicated in the strategic-management model,a clear ________ is needed before alternative strategies can be formulated and implemented.

A)short-term objective
B)implementation plan
C)audit policy
D)mission statement
E)evaluation strategy

Question 26

Effective and carefully planned mission statements

A)require major changes every few months.
B)require major changes every few quarters.
C)require major revision every few years.
D)do not require revision.
E)require infrequent major changes,but are always subject to revision.

Question 27

When developing a mission statement,it is usually advisable to involve as few managers as possible.

Question 28

Carefully prepared statements of vision and mission are widely recognized as the first step in strategic management.

Question 29

Describe why a mission statement is so important in the strategic-management process.

Question 30

After a draft mission statement has been developed,it is important to

A)ask managers to read several articles about mission statements as background information.
B)vote on the mission statement.
C)ask managers to prepare a mission statement for the organization.
D)ask managers to seek support for the mission statement from their subordinates.
E)request modifications,additions,and deletions.

Question 31

A mission statement can sometimes be called a statement of philosophy.

Question 32

According to Drucker,a business' mission is the foundation for all of the following EXCEPT

A)priorities.
B)strategies.
C)plans.
D)employee wage rates.
E)work assignments.

Question 33

A mission statement is a declaration of an organization's reason for being.

Question 34

A(n)________ with expertise in developing vision and mission statements and with unbiased views,can at times manage the process more effectively than an internal group or committee of managers.

A)external group
B)external auditor
C)outside process analyst
D)internal auditor
E)outside facilitator

Question 35

In the widely used approach discussed in the text book,the first step in the process of developing a mission statement is to ask managers to state what they believe the organization's mission should be.

Question 36

According to Campbell and Yeung,what is/are most likely associated with behavior and the present?

A)Mission
B)Values
C)Long-term objectives
D)Vision
E)Possibilities

Question 37

According to Peter Drucker,answering the question "What is our business?" is the first responsibility of strategists.

Question 38

The process of developing a vision and mission statement often includes which of these as the first activity?

A)Requesting that managers modify the current documents
B)Asking managers to read selected articles about vision and mission statements
C)Asking managers to prepare a vision statement for the organization
D)A brainstorming session on whether the organization should have only a vision statement
E)Merging several mission statements into one document

Question 39

A mission statement,is an enduring statement of purpose that distinguishes one organization from other similar enterprises.

Question 40

According to Peter Drucker,asking the question "What is our business?" is synonymous with asking the question "What is our vision?"

Question 41

According to Drucker,what is the best time to ask "What do we want to become?" and "What is our business?"?

A)When a firm is in decline
B)When the firm is successful
C)When the firm is in financial trouble
D)When the firm is in legal trouble
E)When the firm encounters competition

Question 42

Explain the process of developing a mission statement.

Question 43

All stakeholders

A)have claims and concerns about an organization,but these claims and concerns vary.
B)have the same claims and concerns about an organization.
C)have ownership rights in an organization.
D)have the same voting rights in an organization.
E)have environmental concerns as their top priority.

Question 44

According to Campbell and Yeung,the process of developing a mission statement should create an "emotional bond" and "sense of mission" between the organization and its employees.

Question 45

Research has failed to find a positive relationship between mission statements and organizational performance.

Question 46

Which group would be classified as stakeholders?

A)Governments
B)Creditors
C)Suppliers
D)Employees
E)All of the above

Question 47

King and Cleland recommend that organizations carefully develop a written mission statement for four reasons.List and describe them.

Question 48

All stakeholders' claims on an organization ________ pursued with equal emphasis.

A)cannot be
B)should always be
C)are required to be
D)must ideally be
E)can usually be

Question 49

Raising the question "What is our business" may cause a realization of fundamental disagreement among individuals who have worked together for a long time and who think they know each other.

Question 50

One of the benefits of having a clear mission and vision is the promotion of a sense of shared expectations among all managers and employees.

Question 51

According to Drucker,the most important time for a company to develop mission and vision statements is when the company is experiencing financial difficulty.

Question 52

According to Campbell and Yeung,an organization's vision is associated with behavior and with the present.

Question 53

When a company has been successful,the question "What is our business?" becomes less important.

Question 54

In multidivisional organizations,each division should develop a mission statement consistent with and supportive of the corporate mission.

Question 55

According to King and Cleland,carefully developed written mission statements provide a basis for organizing work,departments,activities,and segments around a common purpose.

Question 56

One benefit of having a clear mission and vision is that it projects a sense of worth and intent to all stakeholders.

Question 57

Having a clear mission and vision can provide a basis for a company's internal and external assessments.

Question 58

When developing a mission statement,what is needed before people can focus on specific strategy formulation activities?

A)Negotiation
B)Compromise
C)Eventual agreement
D)A and B only
E)All of the above

Question 59

In multidivisional organizations,each division should develop a mission statement consistent with and supportive of the corporate mission but use the corporate vision statement instead of a divisional vision statement.

Question 60

Which best expresses former Colgate CEO Reuben Mark's thoughts on vision?

A)It's becoming less important that a clear mission make sense internationally.
B)It's essential to drive home different messages in different cultures.
C)Keeping the vision simple will never rally everyone to the corporate banner.
D)Pushing one vision globally is essential.
E)Elevated missions or visions will alienate international markets.

Question 61

Which of these examples of a mission statement focus area does NOT identify the utility of the firm's products to its customers?

A)AT&T focuses on communication rather than telephones.
B)ExxonMobil focuses on oil and gas rather than energy.
C)Union Pacific focuses on transportation rather than railroads.
D)Universal Studios focuses on entertainment rather than movies.
E)A clothing retailer focuses on attractive looks rather than on clothes.

Question 62

In order to appeal to diverse stakeholders,an effective mission statement should be

A)inflammatory.
B)provocative.
C)contentious.
D)reconciliatory.
E)dysfunctional.

Question 63

The general public is especially interested in ________,whereas stockholders are more interested in ________.

A)environmental concerns;social responsibility
B)social responsibility;the treatment of employees
C)the treatment of employees;environmental concerns
D)profitability;social responsibility
E)social responsibility;profitability

Question 64

A mission statement is usually just a simple statement of specific details.

Question 65

The recommended length of an effective mission statement is ________ words.

A)approximately 25
B)no more than 100
C)less than 150
D)at least 300
E)more than 500

Question 66

A good mission statement has

A)an employee orientation.
B)a customer orientation.
C)a shareholder orientation.
D)an environmental orientation.
E)a profit orientation.

Question 67

According to McGinnis,a mission statement should be all of the following EXCEPT

A)it should be broad enough to include all ventures.
B)it should be stated in clear terms.
C)it should distinguish an organization from all others.
D)it should define what an organization is.
E)it should serve as a framework for evaluating both current and prospective activities.

Question 68

Stakeholders of an organization include stockholders,customers and creditors,but not competitors.

Question 69

All of the following utility statements are relevant in developing a mission statement EXCEPT

A)Do not offer me shoes.Offer me comfort for my feet and the pleasure of walking.
B)Do not offer me furniture.Offer me comfort and the quietness of a cozy place.
C)Do not offer me ideas,emotions,ambience,feelings,and benefits.Offer me things.
D)Do not offer me books.Offer me hours of pleasure and the benefit of knowledge.
E)Do not offer me a house.Offer me security,comfort,and a place that is clean and happy.

Question 70

Good mission statements identify the ________ of a firm's products to its customers.

A)utility
B)price
C)profit margin
D)demand
E)popularity

Question 71

An overly general mission statement that ________ could be dysfunctional.

A)does not exclude any strategy alternatives
B)encourages management creativity
C)excludes all diversification
D)endorses the consideration of feasible potential strategies
E)allows for the generation and consideration of a range of alternative objectives

Question 72

An effective mission statement does all of the following EXCEPT

A)it reflects judgments about future growth directions that are based upon forward-looking external and internal analyses.
B)it provides useful criteria for selecting among alternative strategies.
C)it provides a basis for generating and screening strategic options.
D)it is static in orientation.
E)it should be enduring.

Question 73

In developing a mission statement,arousing emotion

A)is not a benefit.
B)is futile.
C)is important.
D)should be avoided if possible.
E)is counterproductive.

Question 74

A mission statement should include a clear summary of an organization's financial status.

Question 75

An effective mission statement generates the impression a firm is successful,has direction,and is worthy of time,support and investment.

Question 76

The mission statement should be short,preferably one sentence.

Question 77

What question is asked in conjunction with the philosophy component of a mission statement?

A)What are the firm's major products or services?
B)Is the firm committed to growth and financial soundness?
C)What are the basic beliefs,values,aspirations,and ethical priorities of the firm?
D)Is the firm responsive to social,community,and environmental concerns?
E)Are employees a valuable asset of the firm?

Question 78

It is unusual for the claims and concerns of a company's stakeholders to vary or conflict.

Question 79

An effective mission statement should do all of the following EXCEPT

A)include monetary amounts,numbers,percentages and ratios.
B)be inspiring.
C)reveal that the firm is environmentally responsible.
D)identify the utility of a firm's products.
E)be reconciliatory.

Question 80

The potential for creative growth in an organization can be limited by

A)an overemphasis on stakeholders.
B)not enough emphasis on stakeholders.
C)a mission statement that is too general.
D)a mission statement that is too specific.
E)a mission statement that is too dynamic.