WorksheetsManagement May 2020
Total questions: 35
Worksheet time: 19mins
What is a mission statement?
a short, specific written statement of the reason a business exists and what it wants to achieve
expresses what the organization should become
to provide a rigorous academic program which meets the needs of our diverse population
valuing the dignity and work of all individuals
What is a vision statement?
a short, specific written statement of the reason a business exists and what it wants to achieve
expresses what the organization should become
to provide a rigorous academic program which meets the needs of our diverse population
valuing the dignity and work of all individuals
Choose 3 answers that are TRUE about the MISSION
Refocusing the attention of investors and the public.
Reflects the firm’s self-concept.
Satisfy customer needs.
Embodies the business philosophy.
Used only by leaders.
What is the objective of the strategy based on? (select 2 answer)
Company's human resource
Company's mission
Corporate structure
Company's vision
Company philosophy
What would be a potential threat to a business? (two possible answers)
Changes in technology and markets e.g. The internet.
Ability to prioritize
Flexibility
Interruptions in the market
Identify 5 steps in how to write up a good swot analysis?
Add strengths and weaknesses, identify opportunities and threats, determine the objectives, sort by importance, draw conclusions.
Determine the objectives, create a grid, label each box, add strengths and weaknesses, draw conclusions.
Draw conclusions, Determine the objectives, create a grid, label each box, add strengths and weaknesses.
A business/organization has a poor reputation among customers , this would be a(n)
Strength
Weakness
Opportunity
Threat
New competitors are entering the market; this is an example of a(n)
Strength
Weakness
Opportunity
Threat
Strengths and weaknesses are external on a SWOT analysis
True
False
I don't know
A SWOT analysis is a great tool to help organize a project.
True
False
I don't know
A SWOT analysis examines internal and external environment.
False
True
What does the "S" in SMART goal stand for?
Surety
Sincere
Specific
What does "M" in SMART goals stand for?
Measurable
Meeting
Minute
What does "A" in SMART goals stand for?
Access
Achievable
Always
What does "R" in SMART goals stand for?
Remember
Refresher
Relevant/Realistic
What does "T" in SMART goals stand for?
Temporary
Timebound
Tipline
All are reasons why it is important to set goals EXCEPT...
they motivate us
they keep you from being focused
they give your life direction
they help you see progress
The question, "By WHEN will the goal be accomplished?" goes with which letter of SMART?
Measurable
Timely
Specific
Attainable
Which of the following time frames described would fit the definition of a short-term goal?
next week
a month
3 weeks
all of the above
The words "some," "many," "more," and "a lot" keep goals from being
Relevant
Timely
Attainable
Measurable
What word keeps this goal from being MEASURABLE? "I will make some money dogsitting this summer."
summer
dogsitting
some
I
"I want to run faster than the speed of light by the time I am 20" is a bad goal because...
It is not Specific.
It is not Relevant
It is not Attainable.
It is not Measurable.
Answering the questions "who?" "what?" "where?" and "why?" go with which letter of SMART?
Specific
Timely
Attainable
Relevant
An assessment of the practicality and potential for success of a proposed business idea is called a
feasibility station
feasibility situation
feasibility statement
feasibility study
Why is market research important?
to help you make a profit
to ensure the product produced is likely to satisfy the consumer
to ensure you acheive the highest share of the market
to ensure you are better than the competitor
True or False: market research does not help a business find market opportunities.
True
False
Which two of the statements are advantages of market research?
Helps a business understand customers and competitors
It can be very time consuming
It could be difficult to analyse
Helps a business create targeted marketing
