BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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operationalize the mission statement
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modify the mission statement
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are a shorter version of the mission statement
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are only clarified by the board of directors
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Detailed explanation-1: -Mission and vision statements play three critical roles: (1) communicate the purpose of the organization to stakeholders, (2) inform strategy development, and (3) develop the measurable goals and objectives by which to gauge the success of the organization’s strategy.
Detailed explanation-2: -The vision and mission statements of a company set the overall direction of the organization. Strategic objectives serve what role?
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: -The fundamental purpose of strategic planning is to align a company’s mission with its vision. Without mission and vision, the plan exists in a vacuum, as the mission is the starting point for planning, the vision is the destination, and the strategic plan is the roadmap that helps you navigate from one to the other.