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76) Core values refer to
A) the cultural ethos of an organization.
B) proprietary values of a firm.
C) written mission statements that express an organization's goals and objectives.
D) the personal moral and ethical codes of a firm's stakeholders.
E) the fundamental, passionate, and enduring principles that guide an organization's conduct over
time.
77) A firm's ________ are timeless, capturing its heart and soul, and serve to inspire and
motivate its stakeholders.
A) core values
B) strategic goals
C) offerings
D) corporate culture
E) corporate ethos
78) An organization's core values are most effective when communicated to and supported by
A) competitors.
B) top management and employees.
C) suppliers.
D) resellers.
E) government regulators.
79) An organization's core values
A) are developed by cross-functional teams for all levels of an organization.
B) are important to the founders but rarely motivate a firm's stakeholders.
C) change as an organization's offerings change.
D) guide the organization's conduct.
E) cannot be separated from the financial realities of that organization.
80) Rooted in its history and its leadership by Mark Zuckerberg, the ________ at Facebook are:
be bold, focus on impact, move fast, be open, and build social value.
A) sustainability doctrines
B) goals and objectives
C) core values
D) moral imperatives
E) functional strategies
81) Employees at fashion apparel company, The Sak Brand Group work to embody its
________, which include trust (being honest and credible), action (making independent
decisions), and ownership (treating the company as if one were a founder).
A) sustainability doctrine
B) goals and objectives
C) core values
D) moral imperatives
E) functional strategy
82) An organization's employees, shareholders, board of directors, suppliers, distributors,
creditors, unions, government, local communities, and customers are referred to as its
A) stakeholders.
B) stockholders.
C) competitors.
D) target audience.
E) organizational community.
83) All of the following are examples of stakeholders except which?
A) government
B) competitors
C) shareholders
D) suppliers
E) customers
84) Which of the following statements regarding stakeholders is most accurate?
A) Employees are typically not classified as a stakeholder group because they are internal to the
organization.
B) There are only three types of stakeholders: customers, suppliers, and distributors.
C) All stakeholders are external to the organization.
D) Stakeholders are a varied group; all are in some way affected by how well a company
performs.
E) Stakeholders are only those that have an ownership stake in an organization.
85) By understanding its core values, an organization can take steps to define its ________, a
statement of the organization's function in society that often identifies its customers, markets,
products, and technologies.
A) customer value proposition
B) doctrine
C) philosophy
D) mission
E) code of ethics
86) An organization's mission is
A) the target goal it sets for current profits based on enacting a comprehensive strategic plan.
B) the target objective it projects for future market share based on enacting a comprehensive
strategic plan.
C) the fundamental, passionate, and enduring principles that guide its conduct over time.
D) specific strategies and tactics that will be used to counteract any competitor's advantages.
E) a statement of the organization's functions in society that often identifies its customers,
markets, products, and technologies.
87) The terms ________ and a mission statement are often used interchangeably.
A) idea
B) objective
C) vision
D) goal
E) protocol
88) Often used interchangeably with the term vision, a ________ frequently has a meaningful
theme and a long-term orientation.
A) point of difference
B) mission statement
C) business definition
D) customer value proposition
E) marketing plan
89) A mission statement should be all of these except which?
A) actionable
B) inspirational
C) long-term
D) meaningful
E) concise
90) A mission statement should be
A) short-term.
B) concise.
C) numerical.
D) trademarked.
E) clever.
91) One of the qualities of a good mission statement is which of these?
A) idealistic
B) long-term
C) fact-based
D) complex
E) permanent
92) The ________ for the 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."
A) core benefit proposition
B) business definition
C) sustainability doctrine
D) mission statement
E) customer value proposition
93) The ________ for Facebook is "To give people the power to share and make the world more
open and connected."
A) sustainability doctrine
B) core benefit proposition
C) mission statement
D) corporate philosophy
E) code of ethics
94) "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.
A) sustainability doctrine
B) core benefit proposition
C) corporate philosophy
D) mission statement
E) code of ethics
95) Recently, many organizations have added ________ to their mission statements.
A) a business definition
B) a social element to reflect an ideal that is morally right and worthwhile
C) an economic element to promote profit maximization
D) an expanded definition of stakeholders to include its competitors
E) their level of pricing and product quality
96) 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
A) mission statement.
B) core value proposition.
C) organizational culture.
D) corporate philosophy.
E) core benefit proposition.
97) Organizational culture refers to
A) the personal moral and ethical codes of ethics of an organization's top management.
B) a written statement expressing an organization's goals and objectives to be achieved through
enacting a comprehensive strategic plan.
C) the fundamental, passionate, and enduring principles that guide an organization's conduct
over time.
D) the ethos of an organization that excludes its core values.
E) a set of values, ideas, attitudes, and norms of behavior that is learned and shared among the
members of an organization.
98) Which of the following statements regarding organizational culture is most accurate?
A) Organizational culture exists only at the corporate level of an organization.
B) Organizational culture involves communicating and connecting with all of the firm's
stakeholders.
C) Organizational culture is best used only at the functional level for the most effective results.
D) Organizational culture cannot be learned or taught.
E) Organizational culture is a statement of the organization's function in society.
99) George Zimmer, the former CEO of Men's Wearhouse, was known to the public as the
bearded company pitchman who sells suits and sport coats on TV declaring, "You'll like the way
you look. I guarantee it!" He also said that to be successful, "You've got to have a company that
starts with trust and fairness." Zimmer was establishing ________ for Men's Wearhouse.
A) a vision
B) a mission statement
C) a pathos
D) a behavioral protocol
E) an organizational culture
100) Recently, St. Joseph Hospital was named one of the "Best Places to Work in Indiana" for
the sixth consecutive year. The hospital touts universal values to "keep health care human" and
employees consistently put patients first, which unites them in a common goal. Hospital
President Kathy Young believes that St. Joseph's ________ makes both her employees and
patients happier in her hospital.
A) vision
B) service offerings
C) organizational culture
D) pathos
E) behavioral protocol
101) The organizational ________ answers the question, "What will it do?"
A) foundation
B) direction
C) culture
D) strategy
E) mission
102) In the context of organizational direction, the term business refers to
A) the daily operational decisions that must be implemented for an organization to remain viable.
B) exchange transactions between seller and buyer in order for the seller to make sales and earn
profits.
C) the clear, broad, underlying industry or market sector of an organization's offering.
D) an organization that develops an offering.
E) the objectives of a firm and the strategies and tactics that will allow it to achieve them.
103) The clear, broad, underlying industry or market sector of an organization's offerings is
referred to as its
A) business.
B) commerce.
C) marketing.
D) competitive set.
E) product grouping.
104) ________ argued that leadership of 20th-century American railroads defined their business
too narrowly, thus failing to create strategies to compete with airlines, barges, pipelines, and
trucks.
A) Earl Bakken
B) Mark Zuckerberg
C) Reed Hastings
D) Theodore Levitt
E) Steve Jobs
105) In terms of an organization's business, railroads lost market share in the 20th century
because they
A) had less flexible routes than trucking.
B) defined their business too narrowly.
C) tried to create a business that appealed equally to all people.
D) priced their services too high.
E) were simply an outmoded form of transportation.
106) In the 20th century, leadership of the railroads let airlines, barges, pipelines, and trucks take
business away from them because their strategies were developed only for the railroad business,
rather than a broader definition of the ________ business.
A) transportation
B) transcontinental shipping
C) passenger travel
D) product delivery
E) bulk cargo
107) The strategies an organization develops to provide value to the customers it serves is called
A) a mission statement.
B) an objective goal.
C) a vision statement.
D) a business model.
E) a protocol.
108) A business model
A) is a road map for the marketing activities of an organization for a specified future time period.
B) consists of the strategies an organization develops to provide value to the customers it serves.
C) is a measure of the quantitative value or trend of a marketing activity or result.
D) consists of the detailed day-to-day operational decisions for an organization.
E) is the means by which organizational goals are to be measured and documented.
109) In recent years, many subscribers to newspapers and magazines have cancelled their print
subscriptions in favor of online news. These trends have caused the StarTribune newspaper to
offer online content for $1.99 per week and Newsweek to suspend its print edition in favor of an
online only weekly edition. These companies had to change their ________, an action triggered
by the technological and social changes in their marketing environments.
A) organizational cultures
B) marketing tactics
C) business models
D) strategic marketing processes
E) goals or objectives
110) Though it started first as a limousine service and became a ridesharing service, Uber
recently redefined its business with the addition of Uber Rush and UberEats, and now considers
itself to be in which of these?
A) the restaurant business
B) the digital or physical mail business
C) the logistics business
D) the transportation business
E) the warehousing business
111) Statements of an accomplishment of a task to be achieved, often by a specific time are
referred to as
A) plans.
B) procedures.
C) strategies.
D) core values.
E) goals.
112) Objectives are
A) the means by which a marketing goal is to be achieved, usually characterized by a specified
target market and a marketing program designed to reach it.
B) criteria or standards used in evaluating proposed solutions to a marketing problem.
C) statements of an accomplishment of a task to be achieved, often by a specific time.
D) a road map for the marketing activities of an organization for a specified future time period,
such as one year or five years.
E) the detailed day-to-day operational decisions essential to the overall success of marketing
strategies.
113) ________ convert an organization's mission and business into long- and short-term
performance targets.
A) Plans
B) Tactics
C) Strategies
D) Goals
E) Visions
114) Regarding goals and objectives, which of the following statements is most accurate?
A) Objectives convert an organization's mission and business into long- and short-term
performance targets.
B) Goals and objectives are actually the detailed day-to-day activities necessary to implement a
marketing program.
C) A company's goals and objectives are often worthy in intent, but unrealistic in practice
because they are rarely accomplished during the specified time period.
D) Goal-setting only applies to business firms; nonprofit organizations typically do not set goals
because they don't earn a profit.
E) The terms goal and objective should not be used interchangeably. Goals are philosophical
while objectives are performance-based.
115) Most firms have a goal to maximize their long-run ________, achieving as high a financial
return on investment as possible.
A) quality
B) market share
C) employee welfare
D) social responsibility
E) profits
