Question 1

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

Accepted Answer

Drucker believed that the best time to ask "What do we want to become?" and "What is our business?" is when a firm is successful. This is because it is easier for a successful firm to envision and plan for future growth and development. Additionally, the success of the firm indicates that it has a clear understanding of its current business, which makes it easier to define and refine its business focus.

Question 2

Explain the process of developing a mission statement.

Accepted Answer

The answer of Explain the process of developing a mission...

Question 3

All stakeholders

Accepted Answer

All stakeholders have claims and concerns about an organization, but these claims and concerns vary depending on their relationship to the organization. For example, shareholders may be primarily concerned about financial returns, while employees may be focused on job security and working conditions, and customers may be concerned with the quality and price of products or services. Therefore, it is important for organizations to consider the diverse interests of their stakeholders and try to balance their competing claims and concerns.

Question 4

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.

Accepted Answer

Campbell and Yeung suggest that the process of developing a mission statement should create an emotional bond and sense of mission between the organization and its employees, indicating that the statement should be meaningful and inspiring for those working within the organization.

Question 5

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

Accepted Answer

The answer of Research has failed to find a positive...

Question 6

Which group would be classified as stakeholders?

Accepted Answer

All of the above groups (governments, creditors, suppliers, and employees) have a stake or interest in the success or failure of a company, and therefore would be considered stakeholders.

Question 7

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

Accepted Answer

The answer of King and Cleland recommend that organizations carefully...

Question 8

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

Accepted Answer

The answer of All stakeholders' claims on an organization ________...

Question 9

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.

Accepted Answer

When asking "What is our business", it can reveal differing opinions and perspectives, leading to potential disagreements among individuals who have previously worked together.

Question 10

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.

Accepted Answer

Having a clear mission and vision helps to align the efforts of all managers and employees towards a common goal, creating a shared sense of expectations and purpose.

Question 11

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

Accepted Answer

According to Drucker, the most important time for a company to develop mission and vision statements is when the company is successful and growing. Developing these statements helps the company clarify its values, goals, and direction for future growth.

Question 12

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

Accepted Answer

According to Campbell and Yeung, an organization's vision is oriented towards the future and provides a sense of direction towards a desired future state.

Question 13

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

Accepted Answer

The answer of When a company has been successful,the question...

Question 14

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

Accepted Answer

In order to ensure that all divisions are working towards the same goals and objectives, it is important for each division to have a mission statement that aligns with the corporate mission. This helps to ensure consistency and unity throughout the organization.

Question 15

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

Accepted Answer

King and Cleland suggest that written mission statements can serve as a common purpose that helps organize work and activities within an organization.

Question 16

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

Accepted Answer

A clear mission and vision statement helps communicate the purpose and direction of an organization, which can make stakeholders feel more engaged and invested in the organization's goals. This can increase the perceived value and importance of the organization to its stakeholders.

Question 17

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

Accepted Answer

A clear mission and vision statement can serve as a reference point for a company to evaluate its internal operations as well as its external relationships and image.

Question 18

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

Accepted Answer

All of the above are needed before people can focus on specific strategy formulation activities. Negotiation is needed to come to a common understanding and perspective on the organization's goals and purpose. Compromise is needed to find a balance between conflicting ideas and interests. Eventual agreement is needed to create a shared vision and direction for the organization.

Question 19

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.

Accepted Answer

The answer of In multidivisional organizations,each division should develop a...

Question 20

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

Accepted Answer

Reuben Mark believed that pushing one vision globally was essential, indicating that having a cohesive vision that applied to all regions was crucial for success.

Quiz 5: Vision and Mission Analysis