Importance of Vision and Mission Statements Quiz
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Questions and Answers

What is one of the key purposes of having a vision and mission statement in a firm?

  • Promoting unhealthy competition among employees
  • Increasing employee salaries
  • Providing a basis for prioritization of key internal and external factors (correct)
  • Decreasing employee morale

    • Which of the following is NOT listed as a benefit of having a vision and mission statement?

  • Providing clarity of purpose among managers and employees
  • Encouraging employees to compete against each other (correct)
  • Resolving divergent views among managers
  • Developing strategies and policies

    • What does a vision and mission statement help organize work, departments, and activities around?

  • A common purpose (correct)
  • Individual goals
  • Personal interests
  • Internal conflicts

    • What role does a vision and mission statement play in promoting synergy among all managers and employees?

    <p>Creating a sense of shared expectations</p> Signup and view all the answers

    How can a vision and mission statement help in resolving divergent views among managers?

    <p>By providing a focal point for stakeholders</p> Signup and view all the answers

    What kind of organization does a vision and mission statement project according to the text?

    <p>Organized and motivated</p> Signup and view all the answers

    What should a vision and mission statement achieve for the organization's stakeholders?

    <p>Project a sense of worth</p> Signup and view all the answers

    What is one approach for developing vision and mission statements in an organization?

    <p>&quot;Selecting several articles about these statements&quot;</p> Signup and view all the answers

    What does having a vision and mission statement provide a basis for in an organization?

    <p>&quot;Organizing work, departments, activities, and segments around a common purpose&quot;</p> Signup and view all the answers

    'Projecting an organized, motivated organization worthy of support' is mentioned as one of the benefits of having a ____.

    <p>&quot;Vision and mission statement&quot;</p> Signup and view all the answers

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