All of the Following Observations Hold True of Mission Statements

question 66

Multiple Choice

All of the following observations hold true of mission statements EXCEPT

• A)they are an action-oriented description of your business.
• B)they rarely discuss profits,but often mention the entry wedge that follows from the firm's strategy.
• C)they might include the major competitive advantages of the firm,and its position in the industry.
• D)they are best when they are simple,short,and direct.

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Definitions:

Program Expenses

Program expenses are costs directly associated with the operations and activities aimed at fulfilling an organization's mission, distinct from administrative or fundraising costs.

Contributed Income

Financial resources received by organizations, especially non-profits, from donations, grants, or philanthropic contributions.

Financial Ratio

A quantifiable metric comparing two relevant numbers from a company's financial statements, used to assess its financial health.

Inputs and Outcomes

The resources invested in a process (inputs) and the results yielded from that process (outcomes), used to evaluate efficiency and effectiveness.