What is the importance of starting with the end in mind?

Unit 4: Mission, Vision, and Values

Flashcard
•
Business
•
University
•
Hard
Kholidah Basori
FREE Resource
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8 questions
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1.
FLASHCARD QUESTION
Front
Back
It helps guide focus and efforts towards achieving specific goals, whether in planning a vacation, starting a business, or completing assignments.
2.
FLASHCARD QUESTION
Front
What does a vision statement represent for a firm?
Back
A vision statement captures what the firm wants to become and provides a focus for employee efforts.
3.
FLASHCARD QUESTION
Front
How does a mission statement differ from a vision statement?
Back
A mission statement is more specific and describes what the business does and the customers it serves, while a vision statement is broader and focuses on the firm's aspirations.
4.
FLASHCARD QUESTION
Front
What are the three important elements most vision statements include?
Back
1) Core ideology, 2) Envisioned future, 3) Recognition of service to stakeholders.
5.
FLASHCARD QUESTION
Front
What does the core ideology of a vision statement contain?
Back
It contains a statement about the firm’s values and reason for being.
6.
FLASHCARD QUESTION
Front
What is described in the envisioned future of a vision statement?
Back
It describes what the firm would look like if it achieves its most important goals.
7.
FLASHCARD QUESTION
Front
Why is it helpful to review assignment guidelines before completing reading assignments?
Back
It guides focus on assignment-related elements and enhances understanding of the material.
8.
FLASHCARD QUESTION
Front
What role do stakeholders play in a company's performance?
Back
Stakeholders have an interest in how a company performs, influencing its vision and mission.
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