Short Quiz

Mission statements tell an organization where it is going.

• True

• False

Strategy tells the organization where it is going.

• True

• False

Functional areas have strategies.

• True

• False

Strategies do not exploit opportunities and strengths, neutralize threats, and avoid weaknesses.

• True

• False

Cost leadership must be expensive.

• True

• False

Provide the maximum value as perceived by customer.

• True

• False

Reliability is matching market changes in design innovation and volumes.

• True

• False

Flexibility is meeting schedules.

• True

• False

Timeliness is quickness in design, production, and delivery.

• True

• False

Remain open to the free flow of ideas.

• True

• False