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Chapter 02 - Company Mission
Chapter 02
Company Mission
Multiple Choice Questions
1. (p. 23) The unique purpose that sets a company apart from others of its type and identifies the
scope of its operations. In product, market and technology terms is defined as the
2. (p. 23) Which external body requires that a company have a mission statement? of
3. (p. 23) _____ is a statement, not of measurable targets but of attitude, outlook, and
orientation.
4. (p. 23) The company mission is a broadly framed but enduring statement of
5. (p. 23) The mission:
6. (p. 24) As the business grows or is forced by competitive pressures to alter its product,
market, or technology, ______ the company mission may be necessary.
7. (p. 23) The mission reflects the:
8. (p. 23) The company mission identifies the
9. (p. 23) Which of these is NOT true about the company mission?
10. (p. 23) The company mission reflects the firm's
11. (p. 23) Characteristically, the company mission is a statement of all of these EXCEPT
12. (p. 23) The mission statement is a message designed to be inclusive of the expectations of
_______ stakeholders for the company's performance over the ______.
13. (p. 23) A revised mission will contain _____ components as the original.
14. (p. 24) Which one of the following is NOT an outcome designed to be accomplished by a
company mission?
15. (p. 24) In general terms, the mission statement addresses all of the following questions
EXCEPT
16. (p. 24) In general terms, which of the following questions is addressed by the mission
statement?
17. (p. 24) The process of defining the company mission for a specific business can be best
understood by
18. (p. 24) In deriving a mission statement, which of the following should be included?
19. (p. 24) When should a company redefine its mission?
20. (p. 24) A mission statement should include all of these components EXCEPT
21. (p. 24) Three indispensable components of the mission statements are:
22. (p. 24) The combination of which of these factors describe the company's business
activities?
23. (p. 26) All of these are economic goals that guide the strategic direction of organizations
EXCEPT
24. (p. 26) Which of the following goals are taken for granted to such an extent that it is
neglected as a principal criterion in strategic decision making?
25. (p. 26) When the survival goal is taken for granted, therefore neglected in strategic decision
making, the firm's focus shifts to
26. (p. 26) Profitability is the ______ goal of a business.
27. (p. 26) ______ is the mainstay goal of a business.
28. (p. 26) A firm will be incapable of satisfying its stakeholders' claims, if it does NOT insure:
29. (p. 26) Generally, _____ is accepted as the clearest indication of a firm's ability to satisfy the
principal desires of employees and stockholders.
30. (p. 26) A firm’s _____ is tied inextricably to its survival and profitability.
31. (p. 26) Basing decisions on a short-term concern for profitability would lead to
32. (p. 26) Growth means:
33. (p. 26) Growth means change, and _____ change is required in a _____ business
environment.
34. (p. 26) In a dynamic business environment, ______ is essential.
35. (p. 27) The company's philosophy is sometimes also called the:
36. (p. 27) _____ vary little from one firm to another.
37. (p. 27) Most _____ are so platitudinous that they read more like public relations handouts.
38. (p. 27) The statement which usually accompanies the mission statement and expresses the
firm's basic beliefs, values and aspirations is known as:
39. (p. 28) Which of these often reads more like public relations handouts than the commitment
to values they are meant to be?
40. (p. 28) Given that managers implicitly accept a general, unwritten, yet pervasive code of
behavior that govern business actions, the _____ vary little from one firm to another.
41. (p. 29) The image the company seeks to project is reflected in the firm's:
42. (p. 29) Mission statements should reflect the ____ expectations.
43. (p. 30) Which of the following statements about public image is FALSE?
44. (p. 27) Firms ____ address the question of their public image in an intermittent fashion.
45. (p. 31) The idea that the firm must know itself is the essence of the company
46. (p. 31) A major determinant of a firm's success is the extent to which it can relate
functionally to the external environment. To accomplish this the firm must have:
47. (p. 31) Much behavior in firms is _______ based.
48. (p. 31) The essence of the company self-concept is the idea that
49. (p. 31) Trading Tools performs an extensive evaluation of its competitive strengths and
weaknesses. This effort is directed towards determining its
50. (p. 33) Which of these is the newest trend in mission components?
