List - I List - II a. Vision i. General statements of the company's intent. b. Mission ii. Desired future position of the company c. Goals iii. Operationalizing of mission d. Objectives iv. Vivid idealised description of a desired outcome
Matching Business Strategy Terms: List I & List II
This question requires matching key strategic management terms presented in List I with their appropriate definitions in List II.
Understanding the Terms
- Vision: A long-term, aspirational description of what the organization wants to achieve or become. It paints an idealized future picture.
- Mission: Defines the organization's core purpose, its reason for existence. It states what the company does, for whom, and its guiding principles.
- Goals: Broad, qualitative statements outlining desired future achievements or states. They typically represent the desired future position of the company.
- Objectives: Specific, measurable, achievable, relevant, and time-bound (SMART) targets set to accomplish the broader goals. They serve to operationalize the mission and goals.
Matching Process
By comparing the definitions:
- a. Vision best matches iv. Vivid idealised description of a desired outcome.
- b. Mission best matches i. General statements of the company's intent.
- c. Goals best matches ii. Desired future position of the company.
- d. Objectives best matches iii. Operationalizing of mission.
Therefore, the correct matching is a-iv, b-i, c-ii, d-iii.
Important Questions from Concepts of strategic Management - Teaching
Match List I with List II
List I
(Economic framework)
List II
(Description)
A. Stackelberg model I. The situation in which each player in an oligopolistic markets adopts its dominant strategy but could do by cooperating B. Nash equilibrium II. Conceptualisation for identifying the structural determinants of the intensity of competition and the probability of firms in oligopolistic industries C. Peter's strategic framework III. If firms are disproportionately powerful the market leader makes the first move and captures two-thirds of market share, while follower firm gets only a third of the market share D. Prisoner's delima IV. A situation in which each player has chosen his/her optional strategy given the strategy chosen by the other player Choose the correct answer from the options given below:
Which of the following are the components of Mc Kinsey's 7-S framework?
A. Shared values
B. Procurement
C. Strategy
D. Technology Development
E. System
Choose thecorrectanswer from the options given below:
________ usually have intensive distribution because sales of these products tend to have a direct relationship to their availability.
To achieve its aims in Strategic Human Resource Management, an organisation formulates and execute Human Resources
A. Policies
B. Behaviours
C. Practices
D. Competencies
Choose the correct answer from the options given below:
According to Mintzberg's model of strategic decision making, its modes are:
(a) Entrepreneurial, adaptation and planning
(b) Managerial, incrementalisation and judgmental
(c) Entrepreneurial, planning and incrementalisation
(d) Judgemental, managerial and leadership
Which of the following options is correct?
