PRELIM EXAMINATION_SM401_IV-AIS2

He is the former CEO of Colgate.

• Reuben Mark

• Peter Drucker

• John Keane

• Louis Gerstner

The key characteristics of an effective mission statement are the following, except:

• Declaration of attitude

• Stakeholder inclusivity

• Balance of specificity and generality

• Employee Orientation

It is crucial because employees must connect personally with the company’s purpose to foster true commitment.

• Vision

• Mission

• Emotional bond

• Employee involvement

Strategic decision-making is important to the following except:

• Firm’s customer

• Firm’s Chief Operating Officer

• Firm’s Division Manager

• Firm’s Board of Director

Among the significant benefits of applying strategy are the following, except:

• Strategy provides impetus for commercial success

• Strategy highlights where the business is profitable and why

• Strategy shows managers where business skills need to be added or strengthened

• Strategy limits the manager’s understanding of their customers and competitors

It can be defined as the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives.

• Strategic Management

• Optimization

• Coopetition

• Strategic Planning

The three stages of the strategic management process are the following, except:

• Strategy Formulation

• Strategy Implementation

• Strategy Evaluation

• Strategy Planning

It answers the question 'what is our business?'

• Vision

• Mission

• Strategy

• Objectives

The following are benefits of having clear mission and vision statements, except:

• Provide direction

• Achieve higher organizational performance

• Achieve clarity of purpose

• Provide monetary benefits for the firm

The following are the roles of a strategist except:

• Analyze trends

• Set long-term goals

• Evaluate threats

• Organize information