Management and Organizational Studies 4410A/B Chapter 2: Chapter 2 notes

Chapter 2: business vision &amp; mission in the beginning, a new business is only a collection of ideas vision/mission statements usually found in the front of annual reports. 90% of all companies have used a mission statement sometime in the last 5 years. Current ideas about mission statements have been set forth by peter drucker ( father of modern mgmt ) for his studies at. Gm: says that what is our business? is synonymous with what is our mission? , mission statement declaration of a firm s reason for being; shows what a firm wants to be and who to serve.  aka a creed statement, statement of purpose, statement of philosophy, statement of beliefs, statement of business principles or a statement of defining our business . Both profit and vision are needed to motivate a workforce effectively. Campbell and yeung emphasize that process of developing a mission statement should create an emotional bond and.

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Strategic Management

Management and Organizational Studies

Raymond Leduc

Western University

Advanced Audit

Accounting Theory

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Introduction To Taxation In Canada

Information Systems Audit

Management Accounting

<p style="text-align: justify;">What is a vision statement?</p>

<div style="text-align: justify;">Which of the following statements is true about the actual organizational culture of a company?</div>
<div style="text-align: justify;"> </div>
<div style="text-align: justify;">a) It is invariably the same as the company's official organizational culture.</div>
<div style="text-align: justify;">b) It is a dynamic, living realm of meaning constructed through communications at the topmost level of the company.</div>
<div style="text-align: justify;">c) It is always reflected in the company's mission statement.</div>
<div style="text-align: justify;">d) It is announced through formal communications by the management of the company.</div>
<div style="text-align: justify;">e) It is the medium of preferred values and practices in which the company's members do their work.</div>

<div>Which of the following statements is true of business ethics?</div>
<div> </div>
<div>a)All business actions deemed unethical by society are necessarily illegal.</div>
<div> </div>
<div>b)Business ethics and personal ethics are synonymous.</div>
<div> </div>
<div>c)The acceptability of behavior in business is determined by not only an organization but also its stakeholders.</div>
<div> </div>
<div>d)Business ethics is independent of an organizational culture.</div>
<div> </div>
<div>e)Profit in business is the only glue that holds relationships together.</div>

Management and Organizational Studies 4410A/B Chapter 2: Chapter 2 notes

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