The process of developing a mission statement includes which of these as the first activity?
A. A request to modify the current document
B. Ask managers to read selected articles about mission statements
C. Ask managers to prepare a mission statement for the organization
D. A merging of several mission statements into one document
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Which of the following is a skill required by organizations to deal with competitive chaos?
A. The ability to share information among all managers
B. The ability to operate efficiently and effectively
C. The ability to discern patters in the dynamic environment and competitive chaos, and spot opportunities ahead of rivals
D. The ability to benchmark competitors
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What can be used to promote unbiased views and to manage the development of the mission and vision statement more effectively?
A. an internal group
B. a committee of managers
C. command-and-control
D. a facilitator
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Which of the following is a characteristic of a customer-driving organization?
A. Innovative
B. Conservative
C. Responsive
D. Unresponsive
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An effective mission statement is 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
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What are focus strategies?
A. Where a company focuses on achieving lower costs than its rivals so as to compete across a broad range of market segments
B. Where a company chooses to concentrate on only one market segment or a limited range of segments
C. When a company conducts market research through focus groups to determine how their strategy should be shaped
D. When a company focuses on supplying differentiated products which appeal to different market segments
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Which of the following is not a factor in the positioning of an organization in an industry?
A. Competitive advantage
B. Rate of growth
C. Market share
D. Size
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Good mission statements identify the ______ of a firms products to its customers
A. utility
B. price
C. profit margin
D. demand
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Heller (1998) suggested organizations must address seven key issues effectively to sustain competitive advantage. Which of the following is not one of those issues?
A. Effectiveness
B. Innovation
C. Costs
D. Speed
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Effective mission statements can vary in
A. length
B. content
C. format
D. all of the above
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Which component of a mission statement addresses the firms distinctive competence or major competitive advantage?
A. Technology
B. Philosophy
C. Concern for public image
D. Self-concept
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Which of these characteristics best describes a customer-driven organization?
A. Unresponsiveness
B. Cost reduction
C. Responsiveness
D. Innovation
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Which of the following is a source of differentiation?
A. Relationships with customers
B. Distribution
C. Low costs
D. Unreliability
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Which component of a mission statement addresses the basic beliefs, values, aspirations, and ethical priorities of the firm?
A. Technology
B. Philosophy
C. Concern for public image
D. Customers
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Effective mission statements
A. are usually changed every few months
B. are usually changed every few years
C. never require revision
D. stand the test of time and require little revision
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Which of the following best relates to market share? Market share is:
A. the best indicator of performance
B. not important
C. indicative of competitive advantage
D. subjective
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The goal of the cost leader is to:
A. start a price war
B. minimize wages
C. charge the lowest price
D. make high margins
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Which of the following is a means to develop a customer commitment focus in the organization?
A. Introducing quality control
B. Activity mapping
C. Enhancing customer service
D. Image building
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The means by which long term objectives will be achieved are
A. mission statements
B. strategies
C. vision statements
D. long term goals
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By what means should an organization measure its performance?
A. Efficiency
B. Effectiveness
C. Economy, efficiency, and effectiveness
D. Efficiency and effectiveness
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