Why Should Mission Statements Be Market Oriented Instead of Product

question 151

Essay

Why should mission statements be market oriented instead of product or technology oriented?

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Definitions:

Stores Ledger Cards

A record-keeping tool that tracks the quantity and value of materials on hand in a storeroom.

Manufacturing Overhead

All indirect costs associated with the manufacturing process, such as utilities, maintenance, and factory equipment depreciation.

Subsidiary Account

An individual account that records transactions related to a specific component, often used within a larger accounting system.

Raw Materials Inventory

Refers to the total cost of all the materials that are currently in stock and have not yet been used in the production process.