PART IV ASSURANCE OF LEARNING EXERCISES CHAPTER 1: The Nature of Strategic Management ASSURANCE OF LEARNING EXERCISE 1A: GATHERING STRATEGY INFORMATION PURPOSE: The purpose of this exercise is to get you familiar with strategy terms introduced and defined in Chapter 1. Let’s apply these terms to McDonald’s Corporation (stock symbol = MCD). INSTRUCTIONS: 1. Go to www.mcdonalds.com‚ which is McDonald’s Web site. Click on the word Search. Then type the words Annual Report
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BEN & JERRY’S HOMEMADE Questions 1. How has Ben & Jerry’s fulfilled its mission statement? What evidence can you provide regarding Ben & Jerry’s performance on each of the three dimensions of the mission statement? Ben & Jerry were able to fulfill their mission statement with the finest quality all-natural ice cream‚ profitable business and by improving the community. Ben & Jerry stated‚ they would make and distribute the finest quality all natural ice cream with a wide
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Describe specific benefits for adopting the course of action set forth in your solution 5- State a call to action. For Steve Jobs‚ it’s as simple as saying « Now go out and buy one » Quotations : Base-line = slogan Mission statement : -Defines a company’s basic business and purpose -Ensures employees and all stakeholders are pointed in the same direction. Example : « Bringing the best to everyone we touch ». By « the best »‚ we mean the best beauty products. The best
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1. A decision is a choice made between two or more alternatives. 2. A significant decision can have a large impact on the management system itself as well as the manager who makes them. Insignificant decisions affect only a small number of company members‚ costing very little to carry out and producing only a short term effect on the company. 3. Night club managers would have to make programmed and non-programmed decisions while working. Traditionally they would make decisions out of
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all of the following EXCEPT: A. Examining a company’s strengths and weaknesses B. Determining which of an organization’s goals to pursue C. Relying Solely on managerial input D. Allocating resources to purse goals Question Two: A company’s mission statement would answer which of the following questions? A. How are we different from our competitors? B. What do we make? C. Why do we exist? D. What will our company be doing in 10 years? Question Three: All of the following are considered noncontrollable
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profit but also needs strategy on how to continue growing and to sustain profitability. It is important for organizations to develop a mission statement with a vision and values of its organization to guide the members in the right direction. Although they may sound one in the same‚ a mission and a vision statement are entirely different. “The company mission describes the company’s product‚ market‚ and technological areas of emphasis in a way that reflects the values and priorities of the strategic
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Mission & Vision Statement Criterion and Comparison Course Number: MGT599 Trident University April 22‚ 2013 Abstract Analysis into the mission and vision statements is critical due to the significant impact they may have on the strategic planning process. They provide direction and the means to reach the business’ long term goals. It’s important to know the critical criteria for each statement to best develop them to achieve success. I’ve determined Expressive‚ Concise‚ Possible
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longest process not only to realize‚ but ultimately to fix. 28: The importance of a vision and mission statements is vital to any organization. For a company’s vision‚ is having a purpose for the future; it will reflect the decisions that the company faces in the past‚ present‚ and future. In other words it will guide the company towards what it will want to be in the future. Mission statements are equally important‚ when sometimes the vision seems so far away‚ it’s a good reminder for the company
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that Aztech has well defined mission and vision. Its mission is based on principle of 5Es‚ which stands for Excelling‚ Extending‚ Enhancing‚ Engaging and Empowering. The organization strives to excel as far as innovation and product quality is concerned. The company also has a mission of extending its reach and presence in global market. In addition‚ the company strives to enhance the profitability and shareholders value and also to engage its customers. Another mission of Aztech group as far as 5
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Question: ________ serve as a baseline for actions and decision making and guide employees in the organization’s intentions and interests. Your Answer: Values Correct Question: A company’s ____________ is its primary reason for existence. Your Answer: mission Correct Question: The primary resource of all organizations is ____________. Your Answer: employees Incorrect Question: Organizational climates are ____________ corporate cultures. Your Answer: counter-productive to Correct Question: The process
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