Which of the Following Statements Describes a Major Advantage of Having

question 71

Multiple Choice

Which of the following statements describes a major advantage of having a clearly defined mission?

• A)A clearly defined mission prevents interdepartmental conflict
• B)A clearly defined mission helps management evaluate available market opportunities and avoid those that are inconsistent
• C)Market planning and implementation can be done easily with a clearly defined mission
• D)A clearly defined mission eliminates the need for specific functional objectives
• E)A clearly defined mission defines the company's competitive advantage in terms of product and/or service

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Definitions:

Decision Making

The cognitive process of selecting a course of action from among multiple alternatives, often involving considerations of risk, benefit, and the impact of the outcome.

Tactical Decisions

Decisions that focus on the short-term strategies and day-to-day operations of a business.

Overhead Costs

Indirect costs that cannot be directly attributed to specific products or services, such as utilities, rent, and managerial salaries.

Decision-making Model

A structured approach to making choices among alternatives, often involving steps such as problem identification, alternative generation, and evaluation.