Which of the Following Is NOT a Characteristic of an Effectively

question 51

Multiple Choice

Which of the following is NOT a characteristic of an effectively worded strategic vision statement?

• 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:

Value Of The Good

The importance, worth, or usefulness of a good to consumers, often reflected in the price they are willing to pay.

Consumer Surplus

The contrast in the overall payment consumers have the willingness and fiscal capability to make for a good or service, compared to the payment they actually make.

Perfectly Price-Discriminating Monopoly

A theoretical market structure in which a monopolist charges each consumer the maximum they are willing to pay, capturing all consumer surplus.

Profit-Maximizing Level

The point at which a firm achieves the highest possible profit, where marginal revenue equals marginal cost.