A firm's ________ describes why it exists and what its business model is supposed to accomplish.
A) mission statement
B) vision statement
C) feasibility statement
D) duty statement
E) responsibility statement

Question

Quizplus · Accepted Answer

A mission statement is a clear expression of what the organization is and the purpose for which it exists. It describes the overall purpose of the organization, its reason for being, and its business model. The vision statement, on the other hand, describes what the organization aspires to become or achieve in the future. Feasibility, duty, and responsibility statements are not typically used to describe a firm's overall purpose and business model.

A Firm's ________ Describes Why It Exists and What Its