An Effective Mission Statement Not Only Needs to Be Specific

question 12

True/False

An effective mission statement not only needs to be specific to that organization; it must enable a common thread to highlight and focus the energy of everyone in the organization in the direction that the top management team believes is best for the business.

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Definitions:

Stockholder's Equity

The interest in a corporation's assets that exists after debts are paid off, reflecting a stake in ownership.

Retail Business

A business model that involves selling goods directly to consumers, typically in small quantities.

Certified Public Accountant

A professional designation given to qualified accountants in numerous countries, denoting that the individual has passed a licensure exam and met statutory requirements.

Public Accounting Firm

A business that provides accounting, auditing, tax, consulting, and financial advisory services to clients.