Mission, Vision, and Values Quiz

What is the purpose of a mission statement?

• To define the desired future position of the company

• To outline specific goals and objectives

• To describe the fundamental reason for the organization's existence/ purpose

• To address the question of how the company will achieve its goals

What does a vision statement describe?

• The desired future position of the company. Hopes and dreams

• The specific actions and measures for attaining goals

• The main reason for the organization's existence

• The fundamental values and principles of the company

What are goals in the context of a company's strategy?

• Specific actions and measures for attaining objectives

• Concrete courses of action to accomplish the company's vision

• Areas of focus such as growth, profitability, retention, efficiency, or customer service

• The desired future position of the company

How are goals usually expressed?

• As a percentage

• As specific actions and measures

• As the main reason for the organization's existence

• As the desired future position of the company

What is an example of an objective to achieve a 10% increase in sales?

• Acquiring five new customers every month

• Finding new and less expensive office premises

• Outsourcing activities

• Increasing revenue by 10%

Why is it important for a company to have a set of values?

• To define the firm's value and place constraints on how the organization pursues its goals

• To maximize profit and uphold certain values and principles

• To attract talented individuals with large compensation packages

• To communicate the company's mission and vision statements

Where can stakeholders easily access a company's mission, vision, and value statements?

• On the company's website

• In the company's annual report

• In the company's financial statements

• In the company's marketing materials

What is the mission statement of PayPal?

• To accelerate the advent of sustainable transport by bringing compelling mass-market electric cars to market as soon as possible

• To build the web's most convenient, secure, cost-effective payment solution

• To save people money so they can live better

• To create a better everyday life for the many people

What is the mission statement of Tesla?

• To accelerate the advent of sustainable transport by bringing compelling mass-market electric cars to market as soon as possible

• To build the web's most convenient, secure, cost-effective payment solution

• To save people money so they can live better

• To create a better everyday life for the many people

What business strategy does Walmart follow?

• Cost leadership

• Differentiation

• Focus

• Integration