Question 1

Which of the following questions would be most useful for the evaluation of a corporate-level strategy?&#10;A) Is the marketing mix aligned with the key success factors in the market?&#10;B) Do executives and employees accept and defend the firm's core values?&#10;C) Is the portfolio of business units balanced in terms of cash flow and risk?&#10;D) Does the firm clearly communicate its core ideology to consumers?

Accepted Answer

Evaluating the balance of the portfolio of business units in terms of cash flow and risk is most relevant to corporate-level strategy as it deals with overall allocation of resources and diversification. The other options are more relevant to functional or marketing strategies.

Question 2

The ________ of Nike is &#34;to experience the emotion of competition,winning,and crushing competitors.&#34;&#10;A) corporate strategy&#10;B) core purpose&#10;C) visionary goal&#10;D) core values

Accepted Answer

The core purpose defines the fundamental reason for a company's existence, and in the case of Nike, it is expressed as the emotion of competition, winning, and crushing competitors. The corporate strategy refers to the overall plan to achieve the company's goals, while the visionary goal is a long-term aspiration, and core values are the guiding principles that define the company's culture and behavior.

Question 3

A firm's core purpose statement is typically directed at ________,while a firm's core values are typically directed at ________.&#10;A) all stakeholders; internal stakeholders&#10;B) internal stakeholders; all stakeholders&#10;C) external stakeholders; all stakeholders&#10;D) internal stakeholders; external stakeholders

Accepted Answer

A firm's core purpose statement is typically directed at all stakeholders, as it communicates the organization's fundamental reason for being. In contrast, a firm's core values are primarily directed at internal stakeholders, guiding the behavior and decision-making processes within the organization.

Question 4

A marketing plan is a type of functional-level strategy.

Accepted Answer

A marketing plan is a functional-level strategy that outlines the specific actions and tactics that a company will use to achieve its marketing objectives. Functional-level strategies are developed to support the overall business-level strategy and are focused on specific functional areas such as marketing, operations, or human resources.

Question 5

A firm's mission and vision statement should communication all of the following EXCEPT the firm's ________.&#10;A) achievements&#10;B) core values&#10;C) inspiring goals&#10;D) core purpose

Accepted Answer

The mission and vision statement should not focus on the firm's past achievements, but rather on its current and future goals, values, and purpose.

Question 6

Respect,simplicity,and togetherness are examples of IKEA's ________.&#10;A) marketing strategy&#10;B) visionary goals&#10;C) core purpose&#10;D) core values

Accepted Answer

Core values are defined as the fundamental beliefs or guiding principles that a company follows. Respect, simplicity, and togetherness are the core values of IKEA as stated on their website.

Question 7

The three levels of strategies are ________.&#10;A) managerial, operational, and promotional&#10;B) functional, corporate-level, and tactical&#10;C) business unit, corporate-level, and functional&#10;D) operational, managerial, and business unit

Accepted Answer

The three levels of strategies are business unit, corporate-level, and functional, as these are recognized and accepted by most management experts and literature. Choice A is incorrect as it includes promotional, which is not a recognized level of strategy. Choice B is incorrect as it includes tactical, which is not a recognized level of strategy. Choice D is incorrect as it does not include corporate-level strategy.

Question 8

Which of the following is a true statement about business-level strategies?&#10;A) They should align with the firm's vision, mission, and corporate strategy.&#10;B) They should encompass a longer time frame than the firm's corporate strategy.&#10;C) They should primarily address the firm's cash flow and risk management issues.&#10;D) They should passionately convey the future of the firm as envisioned by its stakeholders.

Accepted Answer

Business-level strategies should be aligned with the firm's vision, mission, and corporate strategy to ensure they support and advance the overall strategic direction of the organization.

Question 9

Including visionary goals and vivid descriptions in vision and mission statements most likely serves the purpose of ________.&#10;A) stimulating organizational progress&#10;B) guiding employee behavior&#10;C) developing competencies&#10;D) aligning resources

Accepted Answer

Including visionary goals and vivid descriptions in vision and mission statements can inspire and motivate employees towards achieving organizational progress and success. It can generate excitement among them and encourage them to strive towards achieving the set goals.

Question 10

Visionary goals should be inspiring but not necessarily achievable.

Accepted Answer

Visionary goals should be both inspiring and achievable. They should be challenging but not impossible to reach.

Question 11

&#34;To have any book ever printed,in any language,all available in under 60 seconds.,&#34; is the ________ of Amazon Kindle.&#10;A) mission statement&#10;B) visionary goal&#10;C) core purpose&#10;D) core value

Accepted Answer

The answer of &#34;To have any book ever printed,in any...

Question 12

What are the four primary functions of a corporate-level strategy within a multi-business company?

Accepted Answer

The answer of What are the four primary functions of...

Question 13

Strategic planning for a firm such as Disney with several SBUs probably most likely occurs ________.&#10;A) as needed based upon the success or failure of each division&#10;B) at both the corporate level and the business unit level&#10;C) only at the business unit level&#10;D) only at the corporate level

Accepted Answer

The answer of Strategic planning for a firm such as...

Question 14

The core purpose of a firm should relate to short-term financial goals that can be readily accomplished with an effective marketing mix.

Accepted Answer

The answer of The core purpose of a firm should...

Deck 6: Note : Company Assessment - Missions and Visions