According to the comprehensive strategic management model
Show 1. A firms concern for employees in a mission addresses the question, “Is the firm responsive to social, community, and environmental concerns?” Ans: T Page: 70 Conclusion 3. Environmental changes should not change a mission statement. 4. A well-conceived mission statement is the cornerstone of effective strategic management. Multiple Choice 5. The vision and mission statement can often be found 6. According to recent studies, what percent of companies
have used a mission statement sometime in the past five years? What Do We Want To Become? 8. Which statement should be created
first and foremost? 9. The ideal length of a vision statement is: What Is Our Business? 61. What is the first step in the comprehensive strategic-management model? 62. According to the comprehensive
strategic-management model, which step needs to be completed immediately following the establishment of long-term objectives? 63. The purpose of a mission statement is to declare all of these except: 64. As indicated in the strategic-management model, a clear _______ is needed before alternate strategies can be formulated and implemented. 65. A mission statement
is sometimes called all of the following except: 66. A businesses mission is the foundation for all of the following except: 67. The
mission statement answers which question? 68. The vision statement answers which question? 69. In the process of developing a mission statement, it is important to involve 70. The process of developing a vision and mission statement includes which of these as the first activity? 71. After a draft mission statement has been developed, it is important to: 72. What can be used to promote unbiased views and to manage the development of the mission
statement more effectively? 73. According to Campbell and Yeung, what is/are most likely associated with behavior and the present. Importance of Vision and Mission Statements 74. A study by Rarick and Vitton found that firms with a formalized mission statement have the average return on shareholders’ equity compared to those firms without a formalized mission statement. 75. Business Week reports that firms using mission statements have __________ percent higher return on certain financial measures than
those without such statements. 76. King and Cleland recommend organizations carefully develop a written mission statement for all of the following reasons except: 77. What is needed before people can focus on specific strategy formulation activities when developing a mission statement? 78.
What is the best time to develop a mission statement? 79. What is likely to happen if a mission or vision statement is implemented during troubled times for a firm? Characteristics of a Mission Statement 81. All
stakeholders: 82. The three characteristics of a mission statement are a declaration of attitude, a declaration of social
policy and: 83. The potential for creative growth for the organization can be limited by 84. A proactive environmental policy is likely to lead to: 85. The general public is especially interested in , whereas stockholders are more interested in . 86. In developing a mission statement, arousing emotion 87. According to McGinnis, a mission statement should be all of the following except: 88. An effective mission statement is all of the following except: 89. Good mission statements identify the ______ of a firm’s products to its customers. 90. Which of these examples of a mission statement’s focus area is not effective? 91. Which European country has the highest growth rate in consumer purchases over the internet? 92. The largest category for online
sales in the United States is: 93. Corporate social policy should be designed and articulated during which phase of strategy development? 94. The corporate social policy should be reaffirmed or changed during which phase of strategy
development? 95. In 2005, which of the following companies was rated highest for social responsibility? Components of a Mission
Statement 97.
Effective mission statements can vary in 98. Which component of a mission statement addresses the firm’s distinctive competence or major competitive advantage? 99. Which component of a mission statement
addresses the basic beliefs, values, aspirations, and ethical priorities of the firm? 100. Which question(s) are answered in an effective mission statement? 101. Which of the following dimensions are not recommended aspects of a mission statement? 102. Effective mission statements What is the comprehensive strategic management model?The comprehensive strategic management model is define as the basic strategic tool. That helps to develop the vision, mission and objectives for the development of any business. It thoroughly analyses the external and internal environment for the better execution of the strategic plan.
Is the first step in the comprehensive strategic management model?Strategy Formulation: Strategy formulation is the first phase in the strategic management process. It is concerned with devising a suitable plan of action after studying the external business environment, analysing the industry and assessing the internal capabilities of the business concern.
What are the 3 stages in comprehensive strategy formulation?Techniques of strategy formulation can be integrated into a decision making framework. Strategies can be identified, evaluated and selected by this framework that includes three stages: (1) input stage, (2) matching stage, and (3) decision stage (Figure 1) (David, 2007).
What are the 4 basic model of strategic management?The four phases of strategic management are formulation, implementation, evaluation and modification.
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