Question 1

Marriott International's mission statement _____.

Accepted Answer

A)  is inadequate 
B)  will constrain the firm's strategic choices 
C)  is too detailed 
D)  is broadly defined 
E)  is far too complex 
A)  is inadequate 
B)  will constrain the firm's strategic choices 
C)  is too detailed 
D)  is broadly defined 
E)  is far too complex D

Question 2

The universalist theory of ethics _____.

Accepted Answer

A)  views the purpose of business organizations is to maximize profits 
B)  believes laws reflect society and compliance with laws reflects ethical behavior 
C)  believes everyone should act in accordance with religious teachings 
D)  focuses on the outcome of the decision, decisions that generate the greatest good for greatest number of people should be pursued 
E)  focuses on intent of the decision; i.e. weight the decision against the screen "Would I be willing for everyone else in the world to make the same decision?" 
A)  views the purpose of business organizations is to maximize profits 
B)  believes laws reflect society and compliance with laws reflects ethical behavior 
C)  believes everyone should act in accordance with religious teachings 
D)  focuses on the outcome of the decision, decisions that generate the greatest good for greatest number of people should be pursued 
E)  focuses on intent of the decision; i.e. weight the decision against the screen "Would I be willing for everyone else in the world to make the same decision?" E

Question 3

The mission, vision, and values statement of the Mandarin Oriental Hotel Group is an excellent example of the major components of _____.

Accepted Answer

A)  strategic analysis 
B)  strategic management 
C)  strategic thinking 
D)  strategic monitoring 
E)  strategic direction 
A)  strategic analysis 
B)  strategic management 
C)  strategic thinking 
D)  strategic monitoring 
E)  strategic direction E

Question 4

A study of hotel vision statements conducted at Cornell University by calling 1-800 numbers found _____.

Accepted Answer

A)  a large percentage of reservationists knew their company's vision 
B)  a large percentage of reservationists looked up the vision of the hotel chain 
C)  most reservationists were rude 
D)  a large percentage of reservationists did not know the vision of their company 
E)  vision statements were clearly understood and communicated to the caller 
A)  a large percentage of reservationists knew their company's vision 
B)  a large percentage of reservationists looked up the vision of the hotel chain 
C)  most reservationists were rude 
D)  a large percentage of reservationists did not know the vision of their company 
E)  vision statements were clearly understood and communicated to the caller

Question 5

The first step in creating a clear sense of mission is to _____.

Accepted Answer

A)  define the authority of the top management team 
B)  define decision making relationships 
C)  define the business 
D)  define the financial outcomes desired 
E)  define the means by which employees performance will be judged 
A)  define the authority of the top management team 
B)  define decision making relationships 
C)  define the business 
D)  define the financial outcomes desired 
E)  define the means by which employees performance will be judged

Question 6

Describe the four component parts of social responsibility.

Accepted Answer

a. Economic responsibility such as the o

Question 7

One of the most common means to communicate strategic direction is in the ____.

Accepted Answer

A)  written mission statement 
B)  written vision statement 
C)  written value statement 
D)  written outcomes statement 
E)  written goals 
A)  written mission statement 
B)  written vision statement 
C)  written value statement 
D)  written outcomes statement 
E)  written goals

Question 8

Strategic direction is established and communicated through tools including all of those below except _____.

Accepted Answer

A)  visions 
B)  missions 
C)  business definitions 
D)  values 
E)  formal strategic plans 
A)  visions 
B)  missions 
C)  business definitions 
D)  values 
E)  formal strategic plans

Question 9

What are the four uses of mission statements?

Accepted Answer

a. Direct decision making and resource a

Question 10

Typically, the first step in creating a clear sense of mission is to _____.

Accepted Answer

A)  analyze the external environment 
B)  understand the nature of the business 
C)  formulate strategic direction 
D)  formulate a mission statement 
E)  create a strategic vision 
A)  analyze the external environment 
B)  understand the nature of the business 
C)  formulate strategic direction 
D)  formulate a mission statement 
E)  create a strategic vision

Question 11

The term for forces at work to maintain the status quo is _____.

Accepted Answer

A)  economic power 
B)  structural inertia 
C)  legal power 
D)  over diversification 
E)  economies of scope 
A)  economic power 
B)  structural inertia 
C)  legal power 
D)  over diversification 
E)  economies of scope

Question 12

Examining ethics around the world _____.

Accepted Answer

A)  ethics of workers from different parts of the world are very similar 
B)  there are only slight differences among workers in different parts of the world 
C)  there can be significant differences among workers in different parts of the world 
D)  firms should not be concerned about any differences that may occur 
E)  American values are predominant 
A)  ethics of workers from different parts of the world are very similar 
B)  there are only slight differences among workers in different parts of the world 
C)  there can be significant differences among workers in different parts of the world 
D)  firms should not be concerned about any differences that may occur 
E)  American values are predominant

Question 13

Firms that pursue social responsibility are ____.

Accepted Answer

A)  much more profitable 
B)  no significant difference in performance from firms with less social responsibility 
C)  moderately more profitable 
D)  moderately less profitable 
E)  much less profitable 
A)  much more profitable 
B)  no significant difference in performance from firms with less social responsibility 
C)  moderately more profitable 
D)  moderately less profitable 
E)  much less profitable

Question 14

As organizations are founded ______.

Accepted Answer

A)  it is important that their mission statement be extensive and well defined 
B)  it is important that their mission statements be written down so that all employees can refer to it 
C)  they often have mission statements that are simple and not written down 
D)  they do not need a mission statement 
E)  all stakeholders should be considered as the mission statement is developed 
A)  it is important that their mission statement be extensive and well defined 
B)  it is important that their mission statements be written down so that all employees can refer to it 
C)  they often have mission statements that are simple and not written down 
D)  they do not need a mission statement 
E)  all stakeholders should be considered as the mission statement is developed

Question 15

Discuss the three perspectives from which a business should be defined.

Accepted Answer

a. Who is being satisfied? Referring to

Question 16

The component parts of social responsibility include all of the following except _____.

Accepted Answer

A)  economic responsibilities 
B)  legal responsibility 
C)  personal survival responsibility 
D)  moral obligations 
E)  discretionary responsibilities 
A)  economic responsibilities 
B)  legal responsibility 
C)  personal survival responsibility 
D)  moral obligations 
E)  discretionary responsibilities

Question 17

Discuss the different theoretical models of ethics that impact firm decisions.

Accepted Answer

a. Economic theory: the purpose of busin

Question 18

The central components of strategic direction are _____.

Accepted Answer

A)  vision, definition and values 
B)  vision, creativity and mission 
C)  mission, formulation and policy 
D)  analysis, direction and formulation 
E)  analysis, formulation and implementation 
A)  vision, definition and values 
B)  vision, creativity and mission 
C)  mission, formulation and policy 
D)  analysis, direction and formulation 
E)  analysis, formulation and implementation

Question 19

As organizations grow larger and internationalize _____.

Accepted Answer

A)  they seek to minimize values so as to not offend anyone 
B)  they ensure the values of the dominate country are promoted so there is less conflict 
C)  take some values from all different nations in equal portions to limit conflict 
D)  do not concern themselves with the values of different sets of workers since they do not impact performance 
E)  develop values that are friendlier to a wider set of international constituents 
A)  they seek to minimize values so as to not offend anyone 
B)  they ensure the values of the dominate country are promoted so there is less conflict 
C)  take some values from all different nations in equal portions to limit conflict 
D)  do not concern themselves with the values of different sets of workers since they do not impact performance 
E)  develop values that are friendlier to a wider set of international constituents

Question 20

The economic theory of ethics _____.

Accepted Answer

A)  views the purpose of business organizations is to maximize profits 
B)  believes that laws reflect society and compliance with laws reflects ethical behavior 
C)  believes that everyone should act in accordance with religious teachings 
D)  focuses on the outcome of the decision, decisions that generate the greatest good for greatest number of people should be pursued 
E)  focuses on intent of the decision; i.e. weight the decision against screen "Would I be willing for everyone else in the world to make the same decision?" 
A)  views the purpose of business organizations is to maximize profits 
B)  believes that laws reflect society and compliance with laws reflects ethical behavior 
C)  believes that everyone should act in accordance with religious teachings 
D)  focuses on the outcome of the decision, decisions that generate the greatest good for greatest number of people should be pursued 
E)  focuses on intent of the decision; i.e. weight the decision against screen "Would I be willing for everyone else in the world to make the same decision?"

Marriott International's mission statement _____.

The universalist theory of ethics _____.

The mission, vision, and values statement of the Mandarin Oriental Hotel Group is an excellent example of the major components of _____.

A study of hotel vision statements conducted at Cornell University by calling 1-800 numbers found _____.

The first step in creating a clear sense of mission is to _____.

Describe the four component parts of social responsibility.

One of the most common means to communicate strategic direction is in the ____.

Strategic direction is established and communicated through tools including all of those below except _____.

What are the four uses of mission statements?

Typically, the first step in creating a clear sense of mission is to _____.

The term for forces at work to maintain the status quo is _____.

Examining ethics around the world _____.

Firms that pursue social responsibility are ____.

As organizations are founded ______.

Discuss the three perspectives from which a business should be defined.

The component parts of social responsibility include all of the following except _____.

Discuss the different theoretical models of ethics that impact firm decisions.

The central components of strategic direction are _____.

As organizations grow larger and internationalize _____.

The economic theory of ethics _____.

Strategic Management

The Environment and External Stakeholders

Organizational Resources and Competitive Advantage

Strategy Formulation at the Business-Unit Level

Corporate-Level Strategy and Restructuring

Strategy Implementation Through Interorganizational Relationships and Management of Functional Resources

Strategy Implementation Through Organizational Design and Control

Strategies for Entrepreneurship and Innovation

Global Strategic Management and the Future

Filters

Exam 3: Strategic Direction

Marriott International's mission statement _____.

The universalist theory of ethics _____.

The mission, vision, and values statement of the Mandarin Oriental Hotel Group is an excellent example of the major components of _____.

A study of hotel vision statements conducted at Cornell University by calling 1-800 numbers found _____.

The first step in creating a clear sense of mission is to _____.

Describe the four component parts of social responsibility.

One of the most common means to communicate strategic direction is in the ____.

Strategic direction is established and communicated through tools including all of those below except _____.

What are the four uses of mission statements?

Typically, the first step in creating a clear sense of mission is to _____.

The term for forces at work to maintain the status quo is _____.

Examining ethics around the world _____.

Firms that pursue social responsibility are ____.

As organizations are founded ______.

Discuss the three perspectives from which a business should be defined.

The component parts of social responsibility include all of the following except _____.

Discuss the different theoretical models of ethics that impact firm decisions.

The central components of strategic direction are _____.

As organizations grow larger and internationalize _____.

The economic theory of ethics _____.

Strategic Management

The Environment and External Stakeholders

Organizational Resources and Competitive Advantage

Strategy Formulation at the Business-Unit Level

Corporate-Level Strategy and Restructuring

Strategy Implementation Through Interorganizational Relationships and Management of Functional Resources

Strategy Implementation Through Organizational Design and Control

Strategies for Entrepreneurship and Innovation

Global Strategic Management and the Future

Filters