Chapter 02 Charting a Company’s Direction: Its Vision, Mission, Objectives,
and Strategy Answer Key
Multiple Choice Questions
1.
Which one of the following is NOT one of the five basic tasks of the strategy-making, strategy–
executing process?
Topic: Strategic Planning
2.
A company’s strategic plan
3.
Which of the following is an integral part of the managerial process of crafting and executing strategy?
4.
Which of the following are integral parts of the managerial process of crafting and executing strategy?
Topic: Strategic Planning
5.
The strategy-making, strategy-executing process is shaped by
6.
When companies adopt the strategy-making and strategy-execution process, it requires they start by
7.
A company’s strategic vision concerns
8.
The real purpose of the company’s strategic vision
9.
A strategic vision constitutes management’s view and conclusions about the company’s
10.
The managerial task of developing a strategic vision for a company
11.
Which of the following is NOT an accurate attribute of an organization’s strategic vision?
12.
Management’s strategic vision for an organization
13.
Well-conceived visions are ________ and ____________ to a particular organization and they avoid
generic, feel-good statements that could apply to hundreds of organizations.
14.
What a company’s top executives are saying about where the company is headed long term with respect
to its future product-market-customer-technology mix
15.
One of the important benefits of a well-conceived and well-stated strategic vision is to
16.
The defining characteristic of a well-conceived strategic vision is
17.
Which of the following questions is NOT pertinent to company managers in thinking strategically about
what directional path should be taken by the company and about developing a strategic vision?
18.
Which of the following questions is NOT something that company managers should consider in
choosing to pursue one strategic course or directional path versus another?
19.
Which of the following are characteristics of an effectively worded strategic vision statement?
20.
Which of the following is NOT a characteristic of an effectively worded strategic vision statement?
21.
Which of the following is NOT a common shortcoming when wording a company’s vision statement?
When the statement is somewhat
22.
Which of the following ARE common shortcomings of company vision statements?
23.
Breaking down resistance to a new strategic vision typically requires that management, on an as needed
basis,
24.
An engaging and convincing strategic vision
25.
The managerial task of effectively conveying the essence of the strategic vision is made easier by
26.
Effectively communicating the strategic vision down the line to lower-level managers and employees
has the value of
27.
Perhaps the most important benefit of a vivid, engaging, and convincing strategic vision is
28.
The benefit of a vivid, engaging, and convincing strategic vision is NOT its ability to
29.
A sound, well-communicated strategic vision matters, and the related payoffs occur in several respects,
EXCEPT in connection with
30.
Which of the following is NOT the result of a well-conceived and communicated strategic vision?
31.
A company’s mission statement typically addresses which of the following questions?
32.
The difference between the concept of a company mission statement and the concept of a strategic
vision is that
33.
The primary difference between a company’s mission statement and the company’s strategic vision is
that
34.
A company’s mission statement does NOT
35.
A company should not couch its mission in terms of making a profit because a profit is more correctly
an
36.
A company’s values or core values concern
37.
A company’s values relate to such things as
38.
The managerial purpose of Strategic Management includes all of the following EXCEPT
39.
Well-stated objectives are
40.
A company needs financial objectives
41.
What does a company specifically exhibit when it relentlessly pursues an ambitious strategic objective,
concentrating the full force of its resources and competitive actions on achieving that objective?
42.
A company exhibits strategic intent when
43.
Managers can deliberately set challenging performance targets at levels high enough to promote
outstanding company performance by establishing