Mission - ANSWER-A proclamation of the organization's primary objective
that encapsulates its core values
Influences on an organization's mission - ANSWER-Corporate Governance
Stakeholders
Business Ethics
Cultural Context
broad mission statement - ANSWER-Common and not restraining
Narrow mission statement - ANSWER-Is restraining and focuses too much on
one thing
Characteristics of successful mission statements - ANSWER-Credibility
Uniqueness
, Specific Capabilities
Aspirational
How is Cost Leadership achieved? - ANSWER-Through policies such as
controlling overhead costs and cost minimization
Basic drivers of cost leadership strategy - ANSWER-Economy of scale,
linkages and relationships, infrastructure
Sources of differentiation strategy - ANSWER-Product performance,
perception, and augmentation (adds value)
SMART goals - ANSWER-Specific, Measurable, Attainable, Realistic, Time
scaled
Characteristics of successful objectives - ANSWER-1. Acceptability
2. Flexibility
3. Comprehensibility
hierarchy of objectives - ANSWER-- Corporate
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