QUIZ 3 Flashcards
The mission, vision, and values statement of the Mandarin Oriental Hotel Group is an excellent example of the major components of
Strategic direction
The central components of strategic direction are
Vision, definition and values
Strategic direction is established and communicated through tools including all of those below except
Formal strategic plans
The power of various stakeholders is impacted by all of the following except
Profitability power
The term for forces at work to maintain the status quo is
Structural inertia
One of the most common means to communicate strategic direction is in the
Written mission statement
As organizations are founded
They often have mission statements that are simple and not written down
The first step in creating a clear sense of mission is to
Define the business
Typically, the first step in creating a clear sense of mission is to
Understand the nature of the business
Marriotts international mission statement
Is too broadly defined
An organization with a vision has
A sense of what it wants to be in the future
The component parts of social responsibility include all of the following except
Personal survival responsibility
Firms that pursue social responsibility are
No significant difference in performance from firms with less social responsibility
Enterprise strategy refers to
The combining of ethical and strategic thinking in firm
The universalist theory of ethics
Focuses on intent of the decision; ie. weight of the decision against the screen “Would I be willing for everyone else in the world to make the same decision?”
