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BUSA EXAM ONE QUESTIONS AND ANSWERS
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BUSA EXAM ONE QUESTIONS AND ANSWERS
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BUSA EXAM ONE QUESTIONS AND ANSWERSMission Statement
(Chapter 1) - Answers-An Effective Mission:
• specifies the present business or businesses in which the firm intends to
compete and customers it intends to serve.
• has a more concrete, near-term focus on current product markets and customers than
the firm's vision.
• should be inspiring and relevant to all stakeholders.
Vision Statement
(Chapter 1) - Answers-• A Successful Vision:
• is an enduring word picture of what the firm wants to be and expects to
achieve in the future.
• stretches and challenges its people.
• reflects the firm's values and aspirations.
• is most effective when its development includes all stakeholders.
• recognizes the firm's internal and external competitive environments.
• is supported by upper management decisions and actions.
"Our mission is to organize the world's information and make it universally accessible
and useful"
Be able to pick off mission and vision statements just by what the company does ...
(Chapter 1) - Answers-This is Google's Mission Statement
"Our mission is to give people the power to build community and bring the world closer
together"
Be able to pick off mission and vision statements just by what the company does ...
, (Chapter 1) - Answers-This is facebook's mission statement
"We strive to offer our customers the lowest possible prices, the best available
selection, and the utmost convenience"
Be able to pick off mission and vision statements just by what the company does ...
(Chapter 1) - Answers-This is Amazon's mission statement
"To save people money so they can live better"
Be able to pick off mission and vision statements just by what the company does ...
(Chapter 1) - Answers-This is Walmart's mission statement
"We're a growth company focused on better solving the unmet needs of our
customers— and we rely on our employees to solve those puzzles. Thanks for
stopping"
Be able to pick off mission and vision statements just by what the company does ...
(Chapter 1) - Answers-This is Best Buy's mission statement
"To grow our business by providing quality products and services at great value when
and where our customers want them, and by building positive, lasting relationships with
our customers"
Be able to pick off mission and vision statements just by what the company does ...
(Chapter 1) - Answers-This is Sears' mission statement.
How did Facebook's Mission Statement Change?
(Chapter 1) - Answers-Making the world more open and connected (2016 Mission)
• Giving people the power to build community (2018 Mission) and bring the world closer
together
Understand a company can change its mission statement and for the better too.
Explain Toyota's change in mission statement.
(Chapter 1) - Answers-Mobility- the ability to move or be moved freely and easily.
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