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Good Mission Statements Are Essential to Being a Success in Business

question 92

Essay

Good mission statements are essential to being a success in business. Describe the three major characteristics that good mission statements should have.


Definitions:

Base-Year Prices

Prices of goods and services from a specific base year, used to calculate real values and remove the effect of inflation over time.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced by a country in a specified period.

Measured

Quantitatively determined or estimated through a standard or unit of measurement.

Gross Domestic Product

The total value of all goods and services produced over a specific time period within a country's borders, used as a comprehensive measure of economic activity.

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