Which Is the MOST Effective Mission Statement

question 8

Multiple Choice

Which is the MOST effective mission statement?

• A) "To become the most profitable bank in the world."
• B) "To grow profits by 2% each quarter."
• C) "To serve local families."
• D) "To put our competition out of business."

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Definitions:

Trade Restrictions

Measures such as tariffs, quotas, and embargoes imposed by governments to control and limit the volume or value of goods and services that are traded across borders.

Innovation

The process of creating new methods, ideas, or products, or the introduction of something new that adds value.

Declining Industries Argument

The notion that certain sectors of the economy may experience a reduction in demand and productivity, leading to a downturn in those industries.

Foreign Competition

The competition that domestic companies face from companies located in other countries.