week 5

Question 1

What is our business?

Answer 1

Mission Statement

Question 2

define what the organization is and what
the organization aspires to be;

Answer 2

Mission Statement

Question 3

be limited enough to exclude some
ventures and broad enough to allow for
creative growth;

Answer 3

Mission Statement

Question 4

distinguish a given organization from all
others;

Answer 4

Mission Statement

Question 5

serve as a framework for evaluating both
current and prospective activities; and

Answer 5

Mission Statement

Question 6

be stated in terms sufficiently clear to be widely understood throughout the organization.

Answer 6

Mission Statement

Question 7

Mission statement is a broad in_____

Answer 7

scope

Question 8

Mission statement is less than ________ words in length

Answer 8

250

Question 9

it refers to inspiring

Answer 9

Mission Statement

Question 10

Ø Identify the utility of a firm’s product

Question 11

Ø Reveal the firm is socially responsible

Question 12

Ø Reveal that the firm is environmentally responsible

Question 13

Ø include _____ components

Answer 13

nine

Mission statement

Question 14

Ø Reconciliatory

Answer 14

Mission Statement

Question 15

Nine Essential Components of a Mission Statement

Answer 15

1. Customers
2. Products or services
3. markets
4. technology
5. concern for survival, growth and profitability
6. philosophy
7. self-concept
8. concern for public image
9. concern for employees

Question 16

Ø Enduring

Answer 16

Mission Statement

Question 17

Who are the firm’s customers?

Answer 17

customers

Question 18

– What are the firm’s major
products or services?

Answer 18

Products or services

Question 19

Geographically, where does the firm
compete?

Answer 19

Markets

Question 20

– Is the firm technology current?

Answer 20

Technology

Question 21

– is the firm committed to growth and financial soundness?

Answer 21

Concern for survival, growth and profitability

Question 22

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

Answer 22

Philosophy

Question 23

– What is the firm’s distinctive
competence or major competitive advantage?

Answer 23

Self-concept

Question 24

– Is the firm responsive to social, community, and environmental concern?

Answer 24

Concern for public image

Question 25

– Are employees a valuable asset of the firm?

Answer 25

Concern for employees

Question 25

“We believe our first responsibility is to the doctors, nurses, patients, mothers, and all others who use our products and services.” (Johnson & Johnson)

Answer 25

Customers

Question 26

“Standard Oil Company (Indiana) is in business to find and produce crude oil, natural gas, and natural gas liquids; to manufacture high-quality products useful to society from these raw materials.” (Standard Oil Company)

Answer 26

Products and Services

Question 27

“We are dedicated to the total success of Corning Glass Works as a worldwide competitor.” (Corning Glass Works)

Answer 27

Markets

Question 28

“We will continually strive to meet the preferences of adult smokers by developing technologies that have the potential to reduce the health risks associated with smoking.” (RJ Reynolds)

Answer 28

Technology

Question 29

“To serve the worldwide need for knowledge at a fair profit by adhering, evaluating, producing, and distributing valuable information in a way that benefits our customers, employees, other investors, and our society.” (McGraw-Hill)

Answer 29

Concern for Survival, Growth and Profitability

Question 30

“Our world-class leadership is dedicated to a management philosophy that holds people above profits.” (Kellogg)

Answer 30

Philosophy

Question 31

“Crown Zellerbach is committed to leapfrogging (paglukso) ongoing competition within 1,000 days by unleashing the constructive and creative abilities and energies of each of its employees.” (Crown Zellerbach)

Answer 31

Self-Concept

Question 32

“To share the world’s obligation for the protection of the environment.” (Dow Chemical)

Answer 32

Concern for Public Image

Question 33

“To compensate its employees with remuneration and fringe benefits competitive with other employment opportunities in its geographical area and commensurate with their contributions toward efficient corporate operations. (Public Service Electric & Gas Company)

Answer 33

Concern for Employees

Question 34

We aspire to make _________ the world’s (3) premier consumer products company, focused on convenient foods and beverages (2). We seek to produce healthy financial rewards for investors (5) as we provide opportunities for growth and enrichment to our employees (9), our business partners and the communities (8) in which we operate. And in everything we do, we strive to act with honesty, openness, fairness and integrity (6).

Answer 34

PepsiCo

Question 35

________ mission is to be the most successful computer company (2) in the world (3) at delivering the best customer experience in markets we serve (1). In doing so, Dell will meet customer expectations of highest quality; leading technology (4); competitive pricing; individual and company accountability (6); best-in-class service and support (7); flexible customization capability (7); superior corporate citizenship (8); financial stability (5).

Answer 35

Dell’s

Question 36

___________________ will provide branded products and services of superior quality and value (7) that improve the l ives of the world’s (3) consumers. As a result, consumers (1) will reward us with industry leadership in sales, profit (5), and value creation, allowing our people (9), our shareholders, and the communities (8) in which we live and work to prosper.

Answer 36

Procter & Gamble

Question 37

At __________, we believe that lasting business success is built upon ethical (6) standards which guide growth and on a genuine sense of responsibility to our employees (9), our consumers, our environment, and to the communities in which we operate (8).

Answer 37

L’Oreal