Setting Objectives for Every Organizational Level: Identifies the company's product or services. Identifies the customer groups or markets it is endeavoring to serve. Clarifies the firm's purpose and business makeup to stakeholders. Breaks down overall performance targets into targets for each of the organization's separate units. QUESTION 17 The purposes of setting objectives. Involve radical expectations and often go unachieved, and run the risk of killing motivation, eroding employee confidence, and damaging both worker and company performance. To provide motivation and inspire employees to greater levels of effort. Focus attention on quarterly and annual performance improvements to satisfy near-term shareholder expectations. Consistently getting new or improved products to market ahead of rivals. QUESTION 18 What is Stage 1: Developing a Strategic Vision, Mission Statement, and Set of Core Values. Setting Objectives. Crafting a Strategy. Executing the Strategy. Which of the following entails the Strategy-Making, Strategy-Executing Process? Developing a strategic vision, a mission statement, and a set of core values. Monitoring developments, evaluating performance, and initiating corrective. Crafting a strategy to move the firm along its strategic course and achieve its objectives. Setting objectives for measuring the firm's performance and tracking its progress. All of the above. QUESTION 20 Why communicate the vision? Fosters employee commitment to the firm's chosen strategic direction. Delineates management's aspirations for the firm to its stakeholders. Uses distinctive and specific language to set the firm apart from its rivals. Sets out the compelling rationale (strategic soundness) for the firm's direction