According to Vern McGinnis, a Mission Statement Should Define What

question 20

True/False

According to Vern McGinnis, a mission statement should define what the organization is and what the organization aspires to be.

---

Definitions:

Sales Increase

The rise in the quantity or revenue of products sold by a company over a specific period.

Margin of Safety

The difference between actual or expected sales and sales at the break-even point, indicating how much sales can fall before a business incurs a loss.

Break-even Point

The level of sales at which profit is zero.

Degree of Operating Leverage

A ratio that measures how a percentage change in sales will affect profits, highlighting the impact of fixed costs on earnings.