Which One of the Following Is Not a Characteristic of an Effectively

question 38

Multiple Choice

Which one 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 and the kinds of product-market-customer-technology changes that will help the company prepare for the future)
• B) Easy to communicate (is explainable in 10 to 15 minutes,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 or positions the company is striving to stake out)
• D) Consensus-driven (commits the company to a "mainstream" directional path that most all stakeholders will enthusiastically support)
• E) Focused (is specific enough to provide guidance to managers in making decisions and allocating resources)

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Definitions:

Monopolistically Competitive

A market structure characterized by many firms offering products that are similar but not identical, allowing for some degree of market power.

Average Total Cost

Total cost divided by quantity of output produced. Also referred to as average cost.

Marginal Decision Rule

A strategy in economics where decisions are made based on the additional benefits and costs of a small change in the production or consumption.

MC < MR

A condition where marginal cost is less than marginal revenue, suggesting that increasing production can lead to higher profits.