SEVI 3013 Exam 1 Rodeffer | 87
Questions with 100% Correct Answers |
Verified | Latest Update 2024
Vision - ✔✔evokes powerful and compelling mental images of a shared future
Mission - ✔✔encompasses the organizations current purpose, bases
of competition, and competitive advantage
Strategic objectives - ✔✔a set of organizational goals that are used to
operationalize the mission statement and that are specific and cover a well-
defined time frame
Mission Statement - ✔✔encompasses both the purpose of the company and
the basis of competition and competitive advantage
,corporate level strategy - ✔✔specifies actions a firm takes to gain a competitive
advantage by selecting and managing a group of different businesses competing
in different product markets
business level strategy - ✔✔a plan that indicates how a division intends
to compete against its rivals in an industry
shareholder - ✔✔A person who invests in a corporation by buying stock and is
a partial owner
Stakeholders - ✔✔the people whose interests are affected by an
organization's activities
Key Players in Corporate Governance - ✔✔Board of directors, CEO,
senior executives, and shareholders
, board of directors - ✔✔a group of persons elected by the stockholders to
manage a corporation
CEO - ✔✔chief executive officer
senior executive - ✔✔senior manager
knowledge-intensive - ✔✔a company that needs a lot of expertise to make
its products
Strategic Leaders - ✔✔people located in different areas and levels of the firm
using the strategic management process to select strategic actions that help the
firm achieve its vision and fulfill its mission
Social Responsibility - ✔✔the obligation of a business to contribute to society
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