Recently, Many Organizations Have Added ________ to Their Mission Statements

question 252

Multiple Choice

Recently, many organizations have added ________ to their mission statements.

• A) a business definition
• B) a social element to reflect an ideal that is morally right and worthwhile
• C) an economic element to promote profit maximization
• D) an expanded definition of stakeholders to include its competitors
• E) their level of pricing and product quality

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Definitions:

Profit Responsibility

An organization's focus or obligation to achieve financial gain for its stakeholders or owners.

Seller-oriented Outcomes

Outcomes focused on benefiting the seller, such as increased sales or market share.

Customer Focus

A business strategy that emphasizes the importance of meeting the needs and exceeding the expectations of customers.

Societal Responsibility

The obligation of a business to contribute to the welfare of the society that it operates within, beyond its financial and operational obligations.