STM Sp25 Qz1 Ch2

Which option best describes a strategic vision?

• A. A detailed plan of day-to-day operations
  

• A picture of a destination aspired to, an end state to be achieved

• A list of current products and services

• A set of measurable performance targets

What is the main purpose of communicating a strategic vision throughout the organization?

• To explain daily work tasks

• To align and motivate employees by showing where and why the company is headed

• To provide technical training for new hires

• To record historical achievements

Which of the following is a common shortcoming of many vision statements?

• They are too forward-looking

• They are generic and uninspiring

• They are too specific

• They focus too much on measurable targets

Which of these characteristics is NOT mentioned as a quality of an effective vision statement?

• Graphic – paints a picture of the firm

• Directional – forward-looking

• Complex – difficult to understand

• Easy to communicate – simple and memorable

According to the text, a vision statement should be:

• Product centric

• Customer centric

• Focused only on technology

• Generic enough for any organization

Which statement is an example of a poorly formulated vision?

• “To organize the world’s information and make it universally accessible and useful.”

• “We will become a global leader and the first choice of customers in every market we choose to serve.”

• “To give everyone in the world the power to share and make the world more open and connected.”

• “Fosters a culture of invention for today’s athlete and tomorrow’s challenges.”

What is the main difference between a vision and a mission?

• Vision describes daily operations; mission lists future plans

• Vision focuses on current products; mission focuses on future technology

• Vision shows the future business scope; mission describes who the company is and what it does today

• Vision sets measurable targets; mission offers motivational slogans

Which element does NOT belong in an ideal mission statement?

• Identifying the company’s products or services

• Specifying the buyer needs to be satisfied

• Giving the company its own unique identity

• Providing detailed annual financial forecasts

Which of the following is a good sample vision statement mentioned in the text?

• “To inspire humanity—both in the air and on the ground.”

• “To refresh the world; to inspire moments of optimism and happiness; create value and make a difference.”

• “To organize the world’s information and make it universally accessible and useful.”

• “To empower every person and every organization on the planet to achieve more.”

What is the main purpose of setting objectives in Stage 2 of the process?

• To change the company’s mission
  
  

• To convert the strategic vision into specific, measurable performance targets

• To provide an abstract concept for the future

• To list all potential new markets