An Effectively Worded Strategic Vision Statement Is Not Likely to Be

question 13

Multiple Choice

An effectively worded strategic vision statement is not likely to be

• A)directional (is forward-looking, describes the strategic course that management has charted that will help the company prepare for the future).
• B)easy to communicate (is explainable in 5-10 minutes, and can be reduced to a memorable slogan).
• C)graphic (paints a picture of the kind of company management is trying to create and the market position(s)the company is striving to stake out).
• D)consensus-driven (commits the company to a "mainstream" directional path that almost all stakeholders will enthusiastically support).
• E)focused (provides guidance to managers in making decisions and allocating resources).

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Definitions:

Prepaid Expense

Prepaid Expense represents payments made in advance for goods or services to be received in the future, recognized as an asset until the benefit is consumed.

Insurance Policy

A contract between an insurer and policyholder specifying the terms and conditions under which the insurer agrees to compensate the policyholder for specified losses.

Paid

Refers to the status of an account or invoice on which the due amount has been settled.

Adjusting Entry

A journal entry made in the accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.