ECONOMICS

Detailed explanation-1: -Mission statement-expresses the specific aspirations of a company, the major goals for which it will strive.

Detailed explanation-2: -A vision statement is an organization’s declaration of its mid-term and long-term goals, stating what they want to become in the future. Vision statements act as a goal for a company to strive toward. Vision statements are often confused with mission statements.

Detailed explanation-3: -mission statement. expresses the specific aspirations of a company, the major goals it will try to reach.

Detailed explanation-4: -A mission statement is a concise explanation of the organization’s reason for existence. It describes the organization’s purpose and its overall intention. The mission statement supports the vision and serves to communicate purpose and direction to employees, customers, vendors and other stakeholders.

Detailed explanation-5: -A scope statement is a document that defines all the elements of the project scope as well as assumptions, project requirements and acceptance criteria.