6 of 45 Concepts completed Multiple Choice Question A mission statement addresses which question? O How should we operate our company? O Which industry are we in? O What do we want to become? O What is our reason for being? Need help? Review these concept resources. Read About the Concept
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Supratim P.
1- What question is asked in conjunction with the philosophy component of a mission statement? a- What are the firm's major products or services? b- Is the firm responsive to social, community, and environmental concerns? c- Are employees a valuable asset of the firm? d- Is the firm committed to growth and financial soundness? e- What are the basic beliefs, values, aspirations, and ethical priorities of the firm? 2- Which of these examples of a mission statement's focus area does NOT identify the utility of the firm's products to its customers? a- Universal Studios focuses on entertainment rather than movies. b- ExxonMobil focuses on oil and gas rather than energy. c- Union Pacific focuses on transportation rather than railroads. d- A clothing retailer focuses on attractive looks rather than on clothes. e- AT&T focuses on communication rather than telephones. 3- Who is referred to as "the father of modern management"? a- McGinnis b- Cleland c- Drucker d- Yeung e- Campbell
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