BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

STRATEGIC MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A business is defined by its mission.
A
True
B
False
Explanation: 

Detailed explanation-1: -A mission statement defines what line of business a company is in, and why it exists or what purpose it serves. Every company should have a precise statement of purpose that gets people excited about what the company does and motivates them to become part of the organization.

Detailed explanation-2: -What is mission meaning? Mission is the core purpose of an organization or a company. It is a summary of the aims and core values. A mission clearly tells what you as an organization does for customers.

Detailed explanation-3: -A mission statement is usually part of your business plan when you start a business. It identifies your company’s purpose and is a way to publicly share why your company exists. Crafting your mission statement helps you unify your business and avoid potential business mistakes by keeping you on track.

Detailed explanation-4: -A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or non-profit organizations. Business types range from limited liability companies to sole proprietorships, corporations, and partnerships.

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