Mallards Manufacturing's senior executives meet once a year to discuss where the company is going and what changes need to be made to get there. This may include adding new product lines or discontinuing existing lines. It might also include plans for new plants and sales offices. What are the expected results of this meeting?

Question

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As companies change directions or business environments change over time, these companies periodically review where they are going and update their mission statement to reflect the company's new direction(s). They may also update the description of what they hope to look like in the future, and this description is often called a vision statement.

Mallards Manufacturing's Senior Executives Meet Once a Year to Discuss