Organization's Mission Refers to

question 100

Multiple Choice

organization's mission refers to

• A) the target goal it sets for current profits.
• B) the target objective it projects for future market share.
• C) the fundamental, passionate, and enduring principles that guide its conduct over time.
• D) specific strategies and tactics that will be used to counteract any advantages of competitors.
• E) a statement of the organization's functions in society that identifies its customers, markets, products, and technologies.

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Definitions:

Total Profit

The overall financial gain made by a business after subtracting all costs from the total revenue.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service compared to what they actually receive, due to market price.

Equilibrium

refers to a state in a market where supply equals demand, and in the broader sense, it's a condition where all forces acting on a system are balanced.

Consumer Surplus

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually pay.