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ADMN 6375 Exam 1
A business' mission is the foundation for all of the following EXCEPT
Answer: employee wage rates.
A strong ________ heritage underlies the study of strategic management.
Bad ethics can ________ strategic plans
Answer: derail even the best
Preserving the environment should be a permanent part of doing business for which of
the following reasons?
Answer: More lenders are examining the environmental liabilities of businesses seeking loans.
According to a recent Wall Street Journal article, ________ percent of all firms
sampled had no restrictions on boss-subordinate love affairs at work.
All of the following are guidelines for effective strategic planning EXCEPT
Answer: it should be a paper process more than a people process.
All of the following utility statements are relevant in developing a mission statement
Answer: Do not offer me ideas, emotions, ambience, feelings, and benefits. Offer me things.
An organization's vision statement
Answer: answers the question: "What do we want to become?"
Effective and carefully planned mission statements
Answer: stand the test of time
Good mission statements identify the ________ of a firm's products to its customers.
In recent years, the speedy flow of information through technology has
Answer: created a borderless world with global competitors, customers, and citizens.
Japan is suffering from a decline in overall economic production
Answer: since worker productivity increases are not able to offset declines in number of workers
because more and more women are working outside the home.
Simply having a code of ethics
Answer: is insufficient to guarantee that employees behave in an ethical manner secures an
ethics culture in the workplace.
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Sustainability refers to the extent that an organization's operations and actions
________ the natural environment.
Answer: All of these
The United Kingdom's new Bribery Law
Answer: stipulates that failure to prevent bribery is an offense.
The ideal length of a vision statement is
Answer: One sentence
The strategic-management process represents a(n) ________, ________, and
________ approach for determining an enterprise's future direction.
Answer: logical; systematic; objective
What are the means by which long-term objectives will be achieved?
What is the best time to develop a mission statement?
Answer: When the firm is successful
What types of skills are especially critical for successful strategy implementation?
Which group would be classified as stakeholders?
Answer: All of these
Which of the following business actions is considered to be unethical?
Answer: Misleading labeling
Which statement best describes intuition?
Answer: It should be coupled with analysis in decision-making.
Answer: simply happens so organizations should determine how to best manage the phenomena.
According to the text, the first social responsibility of any business is to
Answer: make enough profit to cover the costs of the future, because if this is not achieved then
no other social responsibility can be met.