Explain the Difference Between a Firm's Vision and Its Mission

question 99

Essay

Explain the difference between a firm's vision and its mission.What role does a firm's vision statement play in corporate and competitive strategies?

---

Definitions:

Rate of Inflation

The pace at which the overall price level of goods and services increases, diminishing the buying power.

Probability Distribution

A statistical descriptor that comprehensively outlines all viable outcomes and their likelihoods for a random variable within a set boundary.

Expected Holding-Period Return

The total return anticipated on a bond if it is held until the end of its lifetime or holding period, including interest payments and capital gain or loss.