IBM_tutorial_3

What is a mission statement?

• A financial goal

• A declaration of a company's purpose

• A marketing strategy

• A list of employees

Which of the following is NOT a stakeholder in a business?

• Employees

• Owners

• Competitors

• Customers

What does SMART stand for in goal setting?

• Simple, Measurable, Achievable, Relevant, Time-bound

• Specific, Measurable, Achievable, Relevant, Time-bound

• Specific, Manageable, Attainable, Relevant, Timed

• Specific, Meaningful, Achievable, Realistic, Timed

Which of the following is an example of an internal constraint?

• Market competition

• Employee turnover

• Economic downturn

• Regulatory changes

What is one way businesses can balance conflicting stakeholder objectives?

• Ignoring some stakeholders

• Prioritizing profits over all else

• Engaging in dialogue with stakeholders

• Reducing employee benefits

Which of the following is an external constraint?

• Company culture

• Limited resources

• Government regulations

• Employee skills

What is a vision statement?

• A statement of current goals

• A long-term aspiration of the company

• A summary of financial performance

• A description of products offered

Why is it important for a company's strategy to align with its mission statement?

• To increase sales only

• To ensure consistency and direction

• To satisfy only shareholders

• To reduce costs

What type of goals should be set to support a company's overall mission?

• Vague goals

• SMART goals

• Short-term goals only

• Long-term goals only

How might residents react to a new business branch opening in their area?

• They will always support it.

• They may have concerns about traffic and noise.

• They will ignore it completely.

• They will all become employees.