Company Managers Connect Values to the Chosen Strategic Vision and Mission

question 80

Multiple Choice

Company managers connect values to the chosen strategic vision and mission by:

• A) integrating the company's values into its vision and mission/business purpose into one single statement.
• B) using a values-based balanced scorecard to measure the company's progress in achieving the vision.
• C) making achievement of the values a prominent part of the company's strategic objectives.
• D) making it clear that company personnel are expected to live up to the values in conducting the company's business and pursuing its strategic vision.
• E) making adherence to the company's values the centerpiece of the company's strategy.

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Definitions:

Diminishing Returns

Diminishing returns is an economic principle stating that as more investments or resources are added to a production process, the incremental gain in output will eventually decrease if all other factors remain constant.

Disguised Unemployment

Situations where more people are employed in a task or job than is necessary for its completion, leading to inefficiency.

Capital Goods

Long-term assets such as buildings, machinery, and equipment purchased by businesses to produce goods and services.

Terms of Trade

The ratio of an index of a country's export prices to an index of its import prices, used to measure the relative trading advantage or disadvantage.