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Vision Mission Values Flashcards | StudBud
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Vision Mission Values
Vision Mission Values
10 terms
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StudBud Administration
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2nd quiz
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Managers must synthesize
all available input
from different internal/external sources into an overall strategic vision.
False
True
2
To create a powerful foundation for strategy formulation and implementation, to gain and sustain a competitive advantage
First, the firm may choose to have a vision and mission.
•Second, the firm needs an effective strategic management process.
Second, the firm may have a strategy process.
•First, the firm needs an inspiring vision and mission by ethical values
3
Scenario planning takes place at both the
corporate
and
business
levels of strategy.
False
True
4
Strategic leaders impact firm performance as do leaders whose decisions lead to huge destruction of shareholder wealth
True
False
5
Customer-oriented vision statements allow firms to adapt to changing environments.
False
True
6
Mission is: •What an organization does, including products, services, and which markets – “by” is a common word?
False
True
7
Top-down strategic planning
– Rational, top-down process aiding in programming for future success
True
False
8
Values are ethical standards/norms that govern the behavior of individuals within a firm.
True
False
9
Vision is?
Values are ethical standards/norms
Not important or needed
Process employed by strategic leaders
•Aspiration of the firm that lays the foundation for its mission
10
Strategic leadership are?
Executives’ use of power and influence to direct assets in the pursuit of a
Customer-oriented vision statements allow firms to adapt to changes
Centralized strategic intelligence and decision-making
1.Values form a foundation for a firm’s vision and mission.
