Mission Statements Have Been Shown to Be Associated with Firm

question 76

Multiple Choice

Mission statements have been shown to be associated with firm performance.In many cases,organizations with sound missions are more successful; however,what is far less clear is ________.

• A) that customer-oriented missions provide more flexibility than product-oriented ones
• B) whether this mission actually causes a firm to have a competitive advantage
• C) whether missions can be inspirational for both employees and customers
• D) whether the mission should describe what the firm actually does

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Definitions:

Equivalent Unit

A measure used in cost accounting to express the amount of work done on incomplete units in terms of fully completed units.

Materials

The raw inputs or components that are used in the manufacturing process to create finished goods.

Equivalent Units

A concept used in cost accounting to convert partially completed goods into the equivalent of fully completed units.

First-in

A term often used in inventory management that refers to goods sold or used in the same order as they were bought or produced.