Mission and Vision Analysis

Which statement is TRUE?

• Companies must choose between having a mission statement or a vision statement.

• A company can't have a mission statement unless it has a vision statement.

• A vision statement cannot be established until a company has developed its mission statement.

• The vision statement should be established before the mission statement

• Companies are required by law to have both mission and vision statements.

Which of these basic questions should a vision statement answer?

• What is our business?

• What is our core strength?

• What are our challenges?

• What do we want to become?

• Who are our competitors?

Vision and mission statements can often be found in the front of annual reports.

• True

• False

If an organization chooses to have both a mission and a vision, the mission statement should be established first.

• True

• False

The purpose of a mission statement is to declare all of these EXCEPT

• a reason for being.

• an annual financial plan.

• a statement of purpose.

• a statement of beliefs.

• whom an organization wants to serve.

According to Peter Drucker, asking the question "What is our business?" is synonymous with asking the question "What is our vision?"

• True

• False

A mission statement, is an enduring statement of purpose that distinguishes one organization from other similar enterprises.

• True

• False

As indicated in the strategic-management model, a clear is needed before alternative strategies can be formulated and implemented.

• short-term objective

• implementation plan

• audit policy

• mission statement

• evaluation strategy

After a draft mission statement has been developed, it is important to

• ask managers to read several articles about mission statements as background information.

• vote on the mission statements

• Ask managers to prepare a mission statement for the organization.

• ask managers to seek support for the mission statement from their subordinates.

• request modifications, additions, and deletions.

Having a clear mission and vision can provide a basis for a company's internal and external assessments

• True

• False