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Exam 2: Company Mission

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Question 31

Multiple Choice

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When executives presell products at year-end to trigger their annual bonuses even though the deep discounts that they must offer will threaten the price stability of their products for the upcoming year,this is an example of

A) Moral hazard problem
B) Adverse selection
C) Self-concept
D) Concern for quality

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Question 32

Multiple Choice

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A major determinant of a firm's success is the extent to which it can relate functionally to the external environment.To accomplish this,the firm must have:

A) Infinite sources of capital for expansion
B) A realistic self-concept
C) Specific objectives and job descriptions
D) Community involvement

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Question 33

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Given that managers implicitly accept a general,unwritten,yet pervasive code of behavior that govern business actions,the _____ vary little from one firm to another.

Which of these conditions is also called "shirking?"

The statement which usually accompanies the mission statement and expresses the firm's basic beliefs,values and aspirations is known as:

The company mission is a broadly framed but enduring statement of

The company's philosophy is sometimes also called the:

In deriving a mission statement,which of the following should be included?

Three issues have become prominent in the strategic planning for organizations and are increasingly becoming integral parts in the development and revisions of mission statements.These are:

In general terms,the mission statement addresses all of the following questions EXCEPT

Which of the following goals are taken for granted to such an extent that it is neglected as a principal criterion in strategic decision making?

The process of defining the company mission for a specific business can be best understood by

When executives manipulate personnel records to keep or acquire key company personnel,this is an example of

A mission statement should include all of these components EXCEPT

_______ represents a statement that is sometimes developed to express the aspirations of the executive leadership.

As the business grows or is forced by competitive pressures to alter its product,market,or technology,______ the company mission may be necessary.

Which of these represent the most popular solution to moral dilemma and adverse selection problems?

The image the company seeks to project is reflected in the firm's:

The combination of which of these factors describe the company's business activity?

Characteristically,the company mission is a statement of all of these EXCEPT