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Ray's BMGT 481 Test One 2025 Questions and Answers TMT has a responsibility to... - ....ANSWER ...-1. embrace the orgs vision and mission. 2. analyze internal and external environment. 3. set realistic goals and objectives 4. craft, implement, and manage tactics and strategies for the achievement of above average returns Vision definition - ....ANSWER ...-picture of what the firm wants to be and what it ultimately wants to achieve. should be inspiring and highlight their aspirations and values. Mission definition - ....ANSWER ...-clarifies where firm will focus its attention and highlights its core values and beliefs Strategy definition - ....ANSWER ...-TMTs how to plan for fulfilling its mission and accomplishing its goals and objectives Strategic Competitiveness - ....ANSWER ...-development of unique business competencies that enable a firm to perform activities more effectively and efficiently than rivals scenario models - ....ANSWER ...-sets of potential environmental conditions that range from very likely to very unlikely …FOR STUDENTS ONLY…©️2025 ALL RIGHTS RESERVED… 1