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Unformatted text preview: Chapter 2: The Business Vision and Mission 21. What is the purpose of a mission statement? Differentiate between a mission and a vision statement. Your Answer: Many organizations develop both a mission statement and a vision statement. Whereas the mission statement answers the question "What is our business?" the vision statement answers the question "What do we want to become?" Students should refer to "What Is Our Business?" and "Vision Versus Mission" for more information related to this question. These sections are located on pages 51- 53. 22. Why are the vision and mission statements important to a given organization? Why are they important to effective strategic management? Cite several reasons organizations should carefully develop a written mission statement. Your Answer: King and Cleland recommend that organizations carefully develop a written mission statement. They provide several reasons stated in the text. These include ensuring unanimity of purpose within the organization, providing a basis for allocating resources, in the text....
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This note was uploaded on 07/11/2011 for the course MRKT 6935 taught by Professor Mak during the Spring '11 term at Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology.
- Spring '11