BM11_Final semester 1 review

What is a vision statement?

• A statement of current achievements

• A declaration of future aspirations

• A description of past successes

• A summary of financial goals

What does a vision statement usually include?

• Organization's core values

• Organization's history

• Organization's daily operations

• Organization's employee benefits

What is the primary purpose of a vision statement?

• To outline the organization's past achievements

• To articulate the organization's future goals and aspirations

• To summarize the organization's financial performance

• To describe the organization's daily operations

What is the purpose of a mission statement?

• To motivate employees with inspirational quotes

• To declare the core purpose, identity, and focus of an organization

• To provide a broad and abstract statement

• To guide the organization's strategies and strategic objectives

How does a mission statement differ from a vision statement?

• 
  A mission statement is written, while a vision statement is verbal

• A mission statement remains unchanged over time, while a vision statement changes frequently

• 
  A mission statement focuses on the organization's core purpose, while a vision statement focuses on its strategies

• A mission statement is broad and abstract, while a vision statement is narrow and specific

Which of the following statements is a Mission statement?

• We work hard every day to make American Express the world's most respected service brand

• To be earth’s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online

To be a world class corporation constantly furthering the interest of all its stakeholders

• Mission

• Vision

What are the long-term aspirational goals of an organization called?

• Tactical objectives

• Operational objectives

• Aims

• Strategic objectives

Which type of objectives are specific targets with definitive timelines?

• Operational objectives

• Aims

• Tactical objectives

• Strategic objectives

What are the clearly defined and measurable targets of a business used to achieve its aims called?

• Organizational objectives

• Operational objectives

• Strategic objectives

• Tactical objectives