Question
D) short-term 8. A s an outine of the fundamental purposes of the organization in other words, why the company exists. A) competitive strategy Bi mission statement C) vision statement D) tactical plan E) strategic plan 9. Ain) is a brief, forward-loking expression of ompany warnts to be. A) summary of objectives B) strategic plan C) vision statement D) operational plan E) mission statement 10. "We wll be the easiest pharmacy retailer for customers to use is thestatenent of CVS Corporation. A) Mission B) strategic plan visión D) values E) ethics 11. "Do what's right. Respect others. Perform with excellence." This is Lockheed Martin's statement. A) values B) vision C) strategic D) management E) mission 12. Each of the following would be incded in the strategic planning process tor a business EXCEPT A) detemine staffing requirements B) establish goals and objectives C) detine the company's mission, vislon and values D) develop acton plans E) perfon a SWOT analysis 13. The identitication and analysis of an organization's strengths and weaknesses and environmental threats and opportunities is referred to as a(n)_ A) contingency plan B) misslon statement C) operational plan D) SwOT analysis E) decislonal analysis 14. A stable labor foroe, a solid customer base and a well-known brand name would be examples ofa A) Weaknesses B) Opportunities C) Strengths D) Threats E) strategic goals 15. Wal-Mart has a poor reputation among many custoriers due to publicity about wages and benefits prowided to its employees. This would be an example of one of Wal-Mart's. A) Threas B) forecasting shortfalls C) opportunities D) strengths E) weaknesses 16. A company may be required to invest significant capital to comply with proposed environmental regulations to reduce its carbon emissions. In a SWOT analysis, this would be considered aan A) Threats B) Strength C) Weakness D) Shortal E) Opportunity 17. Name the two broad categories of managerial forecasts. A) opportunites and threats B) revenue and expenises
Explanation / Answer
8. Mission Statement
A mission statement is a short statement of an organization's purpose, identifying the goal of its operations
9. Vision Statement
A vision statement is a road map, indicating what the company wants to become and guiding transformational initiatives by setting a defined direction for the company's growth.
10. Strategic Plan.
11. Values
Lockheed Martin's success depends on our commitment to integrity and Core Values
12. Determining Staffing Requirement.
13.SWOT Analysis
14. Strengths
15. Weaknesses
16. Threats
17.Revenue & Expenses
