10 Questions
What does it mean for a mission statement to be feasible?
It should state realistic and attainable goals
What does it mean for a mission statement to be distinctive?
It should bring uniqueness and not appear similar to competitors' statements
What should a comprehensive mission statement indicate?
The purpose, philosophy, and strategy to accomplish it
What is the main purpose of a mission statement?
To guide internal decision-making and communicate the company's mission
What distinguishes a mission statement from a slogan?
A slogan is a marketing tool designed to grab attention quickly
Who typically establishes the mission of a small organization?
The founder or CEO without consultation
What is an essential characteristic of an effective mission statement?
Clarity and easy understanding
What is the purpose of conducting cost benefit analysis of alternative strategies?
To select the strategy that maximizes benefits at minimum cost
What does the mission statement of an organization typically include?
A statement of organizational philosophy and purpose
What is the role of strategy in an organization according to the text?
To define what the organization aims to achieve
Learn about the key elements of an effective mission statement and how it contributes to the success of an organization. Understand the importance of setting feasible and realistic goals within a mission statement, and how to ensure its relevance over time.
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