The Business Vision and Mission

A vision statement is designed to answer which of the following fundamental questions about a firm?

According to Peter Drucker, the question 'What is our business?' is synonymous with which other question?

A recent study mentioned in the chapter concluded what percentage of companies have used a mission statement sometime in the previous five years?

What is the primary difference between a firm's vision and its mission?

Which of the following is NOT one of the nine essential components of a mission statement?

What is the recommended maximum length for an effective mission statement?

According to the text's analysis of sample mission statements, which statement was considered the 'best' because it lacked only one of the nine components?

A widely used approach to developing a vision and mission statement involves a facilitator or a committee of top managers merging individual statements prepared by all managers into a single document. What is the main purpose of this collaborative process?

According to research reported in BusinessWeek, firms that use mission statements have what advantage over those that do not?

The mission statement component that addresses the question 'What are the firm's major products or services?' is known as:

In the context of a mission statement, a declaration of attitude and outlook that is broad in scope serves to achieve two major goals. One is to allow for creative growth. What is the other?

What does a good mission statement reflect regarding its customers' needs?

The statement from Standard Oil Company (Indiana), '...to find and produce crude oil, natural gas, and natural gas liquids; to manufacture high-quality products...and to distribute and market those products...' is an example of which mission statement component?

According to Peter Drucker, when is the most important time for a company to seriously ask, 'What do we want to become?' and 'What is our business?'

The mission statement component that describes a firm's distinctive competence or major competitive advantage is known as:

What was the author's primary critique of PepsiCo's vision statement, 'PepsiCo’s responsibility is to continually improve all aspects of the world in which we operate—environment, social, economic—creating a better tomorrow than today'?

In addition to providing a basis for allocating resources, which of the following is listed as a primary benefit of having a clear written mission statement, according to King and Cleland?

The text uses the bankruptcy of W. T. Grant as an example of the negative consequences resulting from what failure in the strategic process?

Which utility statement is presented as the customer-oriented way of thinking for a business selling shoes?

Which of the nine mission statement components is best represented by the phrase 'We are dedicated to the total success of Corning Glass Works as a worldwide competitor'?

What is the primary reason the text gives for why a mission statement should be broad, rather than overly specific?

The term 'stakeholders' includes a diverse group of individuals and entities. Which of the following groups is NOT listed as a stakeholder?

The mission statement for Kellogg, 'Our world-class leadership is dedicated to a management philosophy that holds people above profits,' is provided as an example of which component?

What is the author's critique of the vision statement for First Reliance Bank, which is 'to be recognized as the largest and most profitable bank in South Carolina'?

According to Campbell and Yeung, what should the process of developing a mission statement create between the organization and its employees?

The mission statement for Dow Chemical, 'To share the world’s obligation for the protection of the environment,' is provided as an example of which component?

Based on the text's analysis of sample mission statements, which company's statement was considered the 'worst' for lacking six of the nine essential components?

What is the term for a statement of purpose, a statement of philosophy, a statement of beliefs, or a statement 'defining our business'?

What is the primary danger of a mission statement being overly general, such as one for Apple Computer that would not exclude diversification into pesticides?

The mission statement of The Wachovia Corporation, 'To recruit, develop, motivate, reward, and retain personnel of exceptional ability, character, and dedication...', is used as an example of which component?

According to the Wal-Mart boxed insert, the company's revenues increased from dollar 348 billion in 2007 to what amount in 2008?

Which of the following is NOT one of the five characteristics of a good mission statement according to Vern McGinnis?

The phrase 'leapfrogging ongoing competition within 1,000 days by unleashing the constructive and creative abilities and energies of each of its employees' from Crown Zellerbach's mission statement exemplifies which component?

The final story in the chapter conclusion about three construction workers illustrates that good strategists and a clear mission help people to do what?

According to the text, what is the 'first responsibility of strategists'?

Which of the following best describes a 'reconciliatory' mission statement?

The text states that in the evaluation of mission statements, 'there is no one best mission statement for a particular organization.' What is required in this evaluation process as a result?

The mission of Samsonite, as described in the Assurance of Learning Exercises, is to be the leader in which industry?

How many of the nine mission statement components does the text's analysis show are missing from Royal Caribbean's mission statement?

What is the primary function of a mission statement's 'Concern for Survival, Growth, and Profitability' component?

The text states that the process of developing a vision and mission can reveal and resolve divergent views among managers. This resolution is achieved through what activities?

What is the key characteristic of the 'Technology' component in a mission statement?

The mission statement for the North Carolina Zoo, which mentions 'conservation of the world’s wildlife and wild places,' would be an example of a statement from what type of organization?

Why does the text argue that profit alone is not enough to motivate people in a company?

What does the text suggest is the relationship between a vision statement and a mission statement in the strategic planning process?

In the Wal-Mart case example, the company planned to devote what percentage of its international spending to emerging markets from 2009 to 2013?

The mission statement for General Motors, as provided in the Assurance of Learning Exercises, is 'to be the world leader in transportation products and related services.' This statement primarily focuses on which two mission components?

What is the author's critique of Dell's vision statement, 'to create a company culture where environmental excellence is second nature'?

How does the text suggest that strategists should handle the mission statement evaluation for a multidivisional organization?

What does a shared vision create among managers and employees, according to the text?