Business Vision and Mission

A clear mission and vision will provide a basis for devising policies, establishing organizational structure, allocating resources, and evaluating performance in a company.

• True

• False

Which of these basic questions should a vision statement answer?

• A) What is our business?

• B) What is our core strength?

• C) What are our challenges?

• D) What do we want to become?

Which type of statement should be created first and foremost?

• A) Creed

• B) Vision

• C) Objective

• D) Mission

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

• A) a reason for being.

• B) an annual financial plan.

• C) a statement of purpose.

• D) whom an organization wants to serve.

All stakeholders

• A) have environmental concerns as their top priority.

• B) have claims and concerns about an organization, but these claims and concerns vary.

• C) have the same claims and concerns about an organization.

• D) have ownership rights in an organization.

The mission statement should reflect the anticipation of ________

• A) government.

• B) investors.

• C) suppliers.

• D) customers.

What question is asked in conjunction with the philosophy component of a mission statement?

• A) What are the firm's major products or services?

• B) Is the firm committed to growth and financial soundness?

• C) What are the basic beliefs, values, aspirations, and ethical priorities of the firm?

• D) Is the firm responsive to social, community, and

The following excerpt from a mission statement illustrates which of the nine essential components of a mission statement?

"We believe our first responsibility is to the doctors, nurses, patients, mothers, and all others who use our products and services."

• A) Markets

• B) Customers

• C) Concern for Employees

• D) Concern for Public Image