MBA 706 Exam Study Guide 2- Dr. Saleh Questions Exam Complete Test ,
Practice Questions, Verified Answer Key, and Study Guide for (Latest 2026
Edition)
What is the definition of a mission? - (answer)Unique purpose that distinguishes the organization from
other companies and defines the boundaries of its operations
What does a mission do? - (answer)Proclamation of organizations primary objective that encapsulates
its core values
What should a mission do? - (answer)Characterize the organization's principles and priorities and define
the broad product, market, and technologies that are core to the business.
A Mission should define the boundaries of business' ambitions: - (answer)Product Scope
Market Scope
Geographical Scope
T/F A mission may also encompass the organizations strategic intent or vision? - (answer)TRUE
Can a mission act as a guide and lead to the development of hierarchy of objectives? - (answer)Yes
What should a mission accurately describe? - (answer)The: Business,
The: Market it serves
The: organizations capabilities
What can influence an organizations mission? - (answer)1. Corporate governance: who SHOULD we
serve /accountability
2. Stakeholders - who DO we serve/ balance of power
,MBA 706 Exam Study Guide 2- Dr. Saleh Questions Exam Complete Test ,
Practice Questions, Verified Answer Key, and Study Guide for (Latest 2026
Edition)
3. Business Ethics - social responsibility / expectations
4. Cultural Context - Aspects of mission are priority / influence of cultural environment
What is a broad mission statement? - (answer)- Fairly Common, generally refers to all stakeholders in
the business
EX) Scottish Power "highly rated utility-based company in related markets.. provide excellent quality..
service to customers.. returns to investors"
What are some pros & cons of a broad mission statement? - (answer)Pros- addresses the problem of too
narrow of a focus
Cons- Can fail to clearly define core market & product areas
What is a narrow focus mission statement? - (answer)Example: Newport News Shipbuilding "we build
good ships"
What are some pros & cons of a narrow focus mission statement? - (answer)Pros: Very clear description
of the organizations primary business
Cons: May set unnecessary constraints on the company's activities
What are characteristics of a successful mission statement? - (answer)1. Credibility
2. Uniqueness
3. Specific capabilities
4. Aspirational
, MBA 706 Exam Study Guide 2- Dr. Saleh Questions Exam Complete Test ,
Practice Questions, Verified Answer Key, and Study Guide for (Latest 2026
Edition)
**Also need to define the scope: Product, market, geographical*
What are SMART goals? *Can be both short & long term - (answer)Specific
Measurable
Aspirational / Achievable
Realistic
Time Scales / Timely
What are characteristics of successful objectives? - (answer)Acceptability
Flexibility
Comprehensibility
What is the hierarchy of objectives? - (answer)Corporate - over 3 years: organizations overall direction in
term of growth / i.e. increase profit by 30%
Functional - over 3 years: Marketing, finance, HR, ops - Departments direction in terms of growth / i.e.
25% increase in marketing share
Operational - 1-3 years: marketing mix (product, service, promotion) Marketing strategy becomes the
objective
Sometimes SBU - level also if org has a divisional structure
Practice Questions, Verified Answer Key, and Study Guide for (Latest 2026
Edition)
What is the definition of a mission? - (answer)Unique purpose that distinguishes the organization from
other companies and defines the boundaries of its operations
What does a mission do? - (answer)Proclamation of organizations primary objective that encapsulates
its core values
What should a mission do? - (answer)Characterize the organization's principles and priorities and define
the broad product, market, and technologies that are core to the business.
A Mission should define the boundaries of business' ambitions: - (answer)Product Scope
Market Scope
Geographical Scope
T/F A mission may also encompass the organizations strategic intent or vision? - (answer)TRUE
Can a mission act as a guide and lead to the development of hierarchy of objectives? - (answer)Yes
What should a mission accurately describe? - (answer)The: Business,
The: Market it serves
The: organizations capabilities
What can influence an organizations mission? - (answer)1. Corporate governance: who SHOULD we
serve /accountability
2. Stakeholders - who DO we serve/ balance of power
,MBA 706 Exam Study Guide 2- Dr. Saleh Questions Exam Complete Test ,
Practice Questions, Verified Answer Key, and Study Guide for (Latest 2026
Edition)
3. Business Ethics - social responsibility / expectations
4. Cultural Context - Aspects of mission are priority / influence of cultural environment
What is a broad mission statement? - (answer)- Fairly Common, generally refers to all stakeholders in
the business
EX) Scottish Power "highly rated utility-based company in related markets.. provide excellent quality..
service to customers.. returns to investors"
What are some pros & cons of a broad mission statement? - (answer)Pros- addresses the problem of too
narrow of a focus
Cons- Can fail to clearly define core market & product areas
What is a narrow focus mission statement? - (answer)Example: Newport News Shipbuilding "we build
good ships"
What are some pros & cons of a narrow focus mission statement? - (answer)Pros: Very clear description
of the organizations primary business
Cons: May set unnecessary constraints on the company's activities
What are characteristics of a successful mission statement? - (answer)1. Credibility
2. Uniqueness
3. Specific capabilities
4. Aspirational
, MBA 706 Exam Study Guide 2- Dr. Saleh Questions Exam Complete Test ,
Practice Questions, Verified Answer Key, and Study Guide for (Latest 2026
Edition)
**Also need to define the scope: Product, market, geographical*
What are SMART goals? *Can be both short & long term - (answer)Specific
Measurable
Aspirational / Achievable
Realistic
Time Scales / Timely
What are characteristics of successful objectives? - (answer)Acceptability
Flexibility
Comprehensibility
What is the hierarchy of objectives? - (answer)Corporate - over 3 years: organizations overall direction in
term of growth / i.e. increase profit by 30%
Functional - over 3 years: Marketing, finance, HR, ops - Departments direction in terms of growth / i.e.
25% increase in marketing share
Operational - 1-3 years: marketing mix (product, service, promotion) Marketing strategy becomes the
objective
Sometimes SBU - level also if org has a divisional structure