Which of the Following Is True in Regards to a Vision

question 15

Multiple Choice

Which of the following is true in regards to a vision statement?

• A) It should specifically set out what the organisation wishes to achieve.
• B) The goals it sets should be modest and easily attainable.
• C) It should challenge and motivate an organisation's employees, but also be realistic.
• D) It should only be made available in full to senior management, with a simplified version then provided to staff members who are lower in the organisational hierarchy.
• E) It should contain strategies for achieving organisational goals.

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Definitions:

Market Demand Curve

A graphical representation that shows the quantity of a product that consumers are willing and able to buy at various prices.

Cost Function

Represents the relationship between the cost of producing a good and the quantity produced, highlighting how costs change with changes in production volume.

Inverse Demand Function

A mathematical representation that expresses price as a function of quantity demanded, illustrating how price can influence the quantity of a good that consumers are willing to buy.

Stackelberg Leader

In economic theory, a firm in a duopoly that sets its output level first, influencing the subsequent decision of another firm.