A Mission Statement

question 16

Multiple Choice

A mission statement

• A) should never be revised.
• B) sets out the organization's basic purpose for being.
• C) should embrace everything rather than focus on a few key goals.
• D) substitutes for more specific objectives.
• E) supplies guidelines for general situations but not for situations where managers face difficult decisions.

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Definitions:

Ethics Shapes

Suggests that ethical principles influence or determine the formation of personal values and behavior.

Business Laws

Set of rules and regulations that govern the formation, operation, and dissolution of businesses.

Contract Laws

Contract laws are the body of laws that govern the formation, execution, and enforcement of agreements between parties.

Business Ethics

The study and examination of moral and ethical principles in the business environment.