Exam 6: Creating Future Direction

Measurement redundancy is wasteful

Deviant behaviour is more likely when objectives are negotiated and agreed upon

Few companies set social responsibility objectives

Managers should pro-actively manage their firm's mission statements

Adjusting objectives is always wrong

Vision statements may be counter-productive

Imagining the future is a crucial first step in creating it

Vision, values, mission and objectives are inherently in conflict

Visions can only be developed by the CEOs and their cohorts

A mission definition necessarily reveals an organization's culture

A sense of the future of the firm is important in the strategic management process

Setting objectives requires a delicate compromise

Vision and values should guide and constrain the firm's growth

Mission definitions should not be too complex

Objectives should vary across the different businesses in a corporate portfolio

Accomplishing a significant change in mission is difficult for most companies

Mission statements should not be viewed merely as a 'wordsmithing' exercise

Diversity of ideas impedes development of a vision

Major operating drivers of shareholder value are revenue growth and operating margin

Values diversity may pose business problems