Question 1

An organization's mission refers to

Accepted Answer

The answer of An organization's mission refers to
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Question 2

According to Mark Zuckerberg, founder and CEO of Facebook, "We have a saying: 'Move fast and break things.' The idea is that if you never break anything, you're probably not moving fast enough." Moving fast to build more things and learn faster is one of Facebook's

Accepted Answer

Moving fast and breaking things is one of Facebook's core values, as stated by its founder and CEO, Mark Zuckerberg.

Question 3

The __________ for 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."

Accepted Answer

The statement given is a declarative statement outlining the purpose and aim of the American Red Cross, which defines their mission statement.

Question 4

A mission statement should be

Accepted Answer

A mission statement should be inspirational in nature, providing a clear sense of purpose and direction for the organization. It is meant to guide decision-making and inspire employees and stakeholders, and therefore should be focused on long-term goals and values rather than short-term objectives. It should also be simple and easy to understand, rather than complex and convoluted.

Question 5

The term that encompasses and organization's employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers is referred to as its

Accepted Answer

The term that encompasses all the individuals and groups that have an interest in the success of an organization and can affect or be affected by the organization's actions, decisions, and policies is stakeholders. The other options, such as stockholders, competitors, target audience, and organizational society, do not encompass all the individuals and groups mentioned in the question.

Question 6

The terms __________ and a mission statement are often used interchangeably.

Accepted Answer

The term "vision" is often used interchangeably with a mission statement. Both of these terms refer to a statement that outlines the broad goals and objectives of an organization, as well as its overall purpose and direction. While the terms "idea," "objective," "goal," and "protocol" are all related to organizational planning and management, they do not necessarily refer to the same thing as a mission statement or vision statement.

Question 7

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

Accepted Answer

The statement reflects the core values of Ben & Jerry's, which prioritize equal thriving of product, economic, and social missions while respecting individuals and supporting communities.

Question 8

Often used interchangeably with the term vision, a(n) __________ frequently has a meaningful theme and a long-term orientation.

Accepted Answer

A mission statement is a statement that outlines an organization's purpose and objectives. It is often used interchangeably with the term vision, but a mission statement typically has a more specific and long-term orientation, often including a meaningful theme or focus. The other options are not as closely related to the concept of a mission statement.

Question 9

All of the following are examples of stakeholders EXCEPT:

Accepted Answer

Stakeholders are individuals or groups who are affected by or have an interest in the actions of an organization. Government, shareholders, suppliers, and customers are all examples of stakeholders as they are affected by the organization's decisions and actions. Competitors, on the other hand, are not typically considered stakeholders as they represent external entities who are in competition with the organization and are not directly impacted by its decisions.

Question 10

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

Accepted Answer

The addition of a social element to reflect an ideal that is morally right and worthwhile is a commonly seen trend in modern mission statements. Many organizations are now emphasizing not only their financial goals but also their commitment to social responsibility and ethical practices.

Question 11

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

Accepted Answer

Organizational culture refers to the shared beliefs, values, and practices that characterize an organization. This culture is learned and shared by employees and influences their behavior and decision-making. A mission statement is a statement that outlines an organization's purpose or reason for existing. A core value proposition is a statement that outlines the unique value that an organization offers to its customers. A corporate philosophy is a set of guiding principles that inform an organization's decision-making. A core benefit proposition is a statement that outlines the key benefits that a product or service provides to its customers.

Question 12

Which of the following statements regarding stakeholders is most accurate?

Accepted Answer

Stakeholders are a varied group and can include employees, customers, suppliers, shareholders, communities, and more. They are all in some way affected by how well a company performs and their interests should be taken into consideration by the organization. Therefore, option D is the most accurate statement. Option A is incorrect as employees are considered an important stakeholder group. Option B is incorrect as there are many different types of stakeholders that should be considered. Option C is incorrect as stakeholders can be internal or external to the organization. Option E is incorrect as stakeholders do not necessarily have to have an ownership stake in the organization.

Question 13

"To contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life" is Medtronic's __________.

Accepted Answer

The given statement represents Medtronic's mission statement.

Question 14

A mission statement should be all of these EXCEPT:

Accepted Answer

A mission statement should not be short-term. It should reflect the long-term goals and purpose of the organization.

Question 15

Organizational culture refers to

Accepted Answer

Organizational culture is the set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization. It is the way things are done in an organization, and it influences the behavior and decision-making of its members. Option A describes the personal values of top management, Option B describes a strategic plan, Option C describes the principles guiding conduct, and Option D describes the ethos of an organization without including its values.

Question 16

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

Accepted Answer

The statement "To give people the power to share and make the world more open and connected" is Facebook's mission statement. A mission statement conveys the organization's purpose, goals, and values.

Question 17

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

Accepted Answer

The statement that identifies the organization's function in society that includes its customers, markets, products, and technologies is the mission statement. It is important for organizations to define their mission statement as it helps guide decision-making and sets a direction for the company's future. The other options listed are also important elements of organizational values and culture but do not directly relate to defining the organization's function in society.

Question 18

Which of the following statements regarding an organization's core values is most accurate?

Accepted Answer

Core values are the guiding principles that dictate an organization's conduct and behavior. They are developed by the organization's leaders and are meant to be used as a framework for decision-making and action. While an organization's offerings may change over time, its core values should remain constant. Core values are important for motivating and aligning stakeholders, including employees, customers, and investors. Finally, while financial considerations are important for any organization, core values should not be separated from ethical and social responsibilities.

Question 19

"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.

Accepted Answer

The answer of "HowAboutWe is the fastest, easiest, most fun...

Question 20

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

Accepted Answer

An organization's core values need to be communicated effectively to top management and employees, who can then embody these values and communicate them to others within the organization. This creates a culture that supports and reinforces the values, leading to better decision-making and performance. While suppliers, resellers, and government regulators may interact with the organization, they are not as critical to the internal functioning of the organization as top management and employees are. Competitors are also not relevant when it comes to communicating and supporting an organization's core values.

Quiz 2: Developing Successful Organizational and Marketing Strategies