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Question
An automobile manufacturer acquires a rental car company. This is an example of _____.
A. backward integration
B. economies of scale
C. forward integration
D. product differentiation
Answer
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In contrast to the vision of an organization, its mission should:
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Examples of __________ include: To be the happiest place on earth (Disneyland), and Restoring patients to full life (Medtronic).
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The hierarchy of organizational goals is in this order (least specific to most specific):
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B. mission statements, strategic objectives, vision statements
C. vision statements, mission statements, strategic objectives
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Strategy formulation and implementation is a challenging ongoing process. To be effective, it should not involve:
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B. elected by the shareholders as their representatives
C. elected by the public
D. only allowed to serve one term of four years
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Objectives in organizations should be clear, stated, and known by employees throughout the organization.
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B. Traditional strategic controls are usually inappropriate.
C. Complacency about predetermined milestones can prevent adaptability.
D. Detailed plans are needed to maintain order.