Organizational vision and mission serve as emotional tools for the firm, and, as such, have little impact on firm performance.

Question

Quizplus · Accepted Answer

Organizational vision and mission statements are important for setting strategic direction, communicating values and goals to stakeholders, and aligning efforts across the organization. They can provide a sense of purpose and motivation for employees and are often linked to improved financial performance and customer loyalty. Therefore, they can have a significant impact on firm performance.

Organizational Vision and Mission Serve as Emotional Tools for the Firm