BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Vision statement; mission statement
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Short-term objectives; long term objectives
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Objectives; strategies
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Vision statement; Goals
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Detailed explanation-1: -An important question a mission statement should answer is, “What do we want to become?” Whereas the mission statement answers the question, “What do we want to become?” the vision statement answers the question, “What is our business?” In order to motivate a workforce effectively, both profit and vision are needed.
Detailed explanation-2: -A vision statement should answer the basic question, “What do we want to become?” A clear vision provides the foundation for developing a comprehensive mission statement. Many organizations have both a vision and mission statement, but the vision statement should be established first and foremost.
Detailed explanation-3: -What are mission and vision statements? A mission statement defines the organization’s business, its objectives, and how it will reach these objectives. A vision statement details where the organization aspires to go. Why does your company exist?
Detailed explanation-4: -A vision statement answers questions about the future state of an organization. A mission statement, however, answers the question “what is our business?".