1-4 Strategy

Multiple Choice

What is the definition of strategy?

• A plan to achieve goals and objectives

• A list of tasks to complete

• A way to manage employees

• A marketing technique

Multiple Select

Which of the following are business functions?

• Strategy

• Operations

• Marketing

• Finance and Accounting

Fill in the Blanks

Strategy affects or should affect every

a company makes.

Multiple Choice

Which of the following best describes the purpose of a strategy according to the first slide?

• To provide a map, a route, a direction, a plan

• To motivate employees

• To increase profits

• To create a vision statement

Fill in the Blanks

Fill in the blank: A company's

is its purpose; its reason for being.

Multiple Select

Which statements about mission and vision are correct?

• Mission is why you exist and what you do

• Vision is where you will end up if successful

• Mission is an aspirational view of the future

• Vision is the problem the company is solving

Multiple Choice

What is the primary mission of Southwest Airlines?

• To be the world's most loved airline

• To connect people to what's important in their lives through friendly, reliable, and low-cost air travel

• To expand human potential

• To bring people together to build homes

Multiple Choice

Which of the following statements best describes the vision of Habitat for Humanity?

• A hunger-free America

• A world where everyone has a decent place to live

• Expanding human potential

• To leave a sustainable world for future generations

Multiple Select

Select all organizations whose vision statements focus on eliminating a specific problem.

• Feeding America

• Alzheimer's Association

• National Multiple Sclerosis Society

• The Nature Conservancy

Multiple Choice

According to Professor Lee Bolman, what is the relationship between vision and strategy?

• Vision is more important than strategy.

• Strategy is more important than vision.

• A vision without a strategy remains an illusion.

• Vision and strategy are unrelated.

Multiple Choice

Which aspects do strategy and HR work together to determine within a company?

• Organizational chart

• Levels of management

• Job descriptions and appraisals

• All of the above

Fill in the Blanks

Fill in the blank: A specific procedure or action used to support strategy in order to achieve goals and objectives is called a

.

Open Ended

What is the difference between goals and objectives in the context of strategy and action?

Open Ended

After learning about business strategy, list 7 words/concepts you recall from the lesson