The Difference Between a Company's Mission Statement and the Concept

question 86

Multiple Choice

The difference between a company's mission statement and the concept of a strategic vision is that

• A) the mission explains why it is essential to make a profit, whereas the strategic vision explains how the company will be a moneymaker.
• B) a mission statement typically concerns a company's present business scope and purpose whereas a strategic vision sets forth "where we are going and why."
• C) a mission deals with how to please customers whereas a strategic vision deals with how to please shareholders.
• D) a mission statement deals with "where we are headed " whereas a strategic vision provides the critical answer to "how will we get there?"
• E) a mission statement addresses "how we are trying to make a profit today" while a strategic vision concerns "how will we make money in the markets of tomorrow?"

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Definitions:

1790s

The decade from 1790 to 1799, notable for significant political and social changes globally, including the French Revolution.

War on Britain

is a broad term that could refer to various conflicts involving Britain, but without a specific context, it is too vague to accurately define.

War of 1812

A military conflict fought between the United States and Great Britain from 1812 to 1815, largely over issues of trade and impressment.

War of 1812

A conflict fought between the United States and the United Kingdom, along with their respective allies, from 1812 to 1815, primarily over issues of trade restrictions and American territorial expansion.