Chapter 2

Question 1

Concerns for Employees

Answer 1

Are employees a valuable asset to the firm?

Question 2

Concern for the Public Image

Answer 2

Is the firm responsive to social, community, and environmental concerns?

Question 3

Concern for Survival, Growth and Profitability

Answer 3

is the firm committed to growth and financial soundness?

Question 4

Creed Statement

Answer 4

A statement of purpose, a statement of philosophy, a statement of beliefs, a statement of business principles, or a statement “defining our business,” a mission statement reveals what an organization wants to be and whom it wants to serve.

Question 5

Customers

Answer 5

Who are the firms customers?

Question 6

Markets

Answer 6

Geographically, where does a firm compete?

Question 7

Mission Statement

Answer 7

What an organization wants to be and who it wants to serve.

1. Customers
2. Products or services
3. Markets
4. Technology

Question 8

Philosophy

Answer 8

What are the basic beliefs, values, aspirations, and ethical priorities of the firm?

Question 9

Products or Services

Answer 9

What are the firm’s major products or services?

Question 10

Reconciliatory

Answer 10

Mission statements need to be broad to reconcile differences effectively among, and appeal to, an organization’s diverse stakeholders, the individuals and groups of individuals who have a special stake or claim on a company.

Question 11

Self-Concept

Answer 11

distinctive competence

Question 12

Technology

Answer 12

Is the firm technologically current?

Question 13

Vision Statement

Answer 13

Answers the question, “What do we want to become?” provides a foundation for developing a comprehensive mission statement. A vision statement should ne short, one sentence, and as many managers as possible should jabe input developing the statement