A good mission statement should be
A. Very broadly defined
B. Very narrowly defined
C. Reference the firm's targeted markets, product or service offering, distribution channels and management’s core operating beliefs
Describe only the purpose of the corporation
E. A and C only
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In a conducting a self-assessment, a firm should consider all of the following except for
A. The degree on government regulation in its targeted markets
B. The effectiveness of its R&D activities
C. Product quality
D. Responsiveness to changing customer needs
E. Brand name recognition
In selecting an appropriate business strategy, all of the following are relevant questions except for
A. Does the firm have sufficient resources to implement the strategy?
B. Have all reasonable alternatives available for implementing the strategy been evaluated?
C. What are the key assumptions underlying the various strategic options under consideration?
D. What do the firm's targeted customers primarily consider in making purchasing decisions?
E. Why might an acquisition be preferred to a joint venture in implementing the business strategy?
What is the core competence underlying Honda Corporation product offering?
A. Product distribution
B. Marketing
C. Internal combustion engine design
D. Exterior design
E. Organizational structure
Which of the following examples represents the best application of a firm’s primary core competence?
A. Honda Motors manufactures cars, motorcycles, lawnmowers, and snow blowers
B. IBM provides both software services and manufactures computer hardware
C. PepsiCo manufactures and distributes soft drinks and manages restaurant chains
D. Microsoft sells operating system software and access to the internet through its MSN subscription service
E. McDonalds sells hamburgers and pizza.
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