Difficulty: 1 Easy Learning Objective: 02-02 Evaluate the strategic implications of product-oriented and customer-oriented vision statements. Topic: Vision, Mission, and Values
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Pioneer Pharma Inc. and GH Medicines Corp. are two competing firms in the pharmaceutical industry. While Pioneer Pharma Inc.'s vision is "to be a preeminent drug manufacturer in the industry," GH Medicines Corp.'s vision is "to make good health a reality for everyone around the world." Which of the following is an implication of these different visions?
A. GH Medicines's vision is more product-oriented than the vision of Pioneer Pharma. B. Pioneer Pharma is more likely to have a positive relationship between its vision and firm performance than GH Medicines. C. Pioneer Pharma's vision is more long-term and futuristic than GH Medicines's vision. D. GH Medicines will be more flexible than Pioneer Pharma when adapting to changing environments. Companies that have customer-oriented visions tend to be more flexible when adapting to changing environments. In contrast, companies that define themselves based on productoriented statements tend to be less flexible and thus more likely to fail.
AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 3 Hard Learning Objective: 02-02 Evaluate the strategic implications of product-oriented and customer-oriented vision statements. Topic: Vision, Mission, and Values