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Unit 16-17-18 TEST Review

Authored by JulieAnn Bever

Business

11th Grade

Used 2+ times

Unit 16-17-18 TEST Review
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20 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

A company’s mission is its:

charter

strategy

purpose

vision

2.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

Beyond inspiration and clarity of purpose, another benefit of a mission statement is:

it allows goals and objectives to be informed by and to aligned with the mission

it allows employee reviews to occur annually

it makes it easier to borrow money

it includes the goals and objectives

3.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

What a company believes, its business philosophies, and how it intends to treat its employees/teammates and customers are part of the company’s:

vision statement

strategy

SMART objectives

core values

4.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

What defines a company’s purpose and informs its goals and objectives?

SWOT analysis

milestones

financial statement

mission statement

5.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

Company objectives are more meaningful when they have certain characteristics, following the S.M.A.R.T. framework, including being:

Timed-Based and Affordable

Specific and Aspirational

Smart and Attainable

Realistic and Measurable

6.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

Why are objectives important?

owners can ensure an ROI

managers can create a vision using objectives

leaders can guarantee all revenue targets are achieved

managers can determine specific performance targets for company divisions and for each employee

7.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

A goal describes or defines a ______________, whereas objectives are _____________ to help achieve a goal.

capital, resources

tactics, vision

products, destination

destination, tactics

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