A company's broad mission leads to ________.
A) increasing profits and more customers
B) increasing sales and decreasing costs
C) a higher share price
D) a hierarchy of objectives, including business objective and marketing objectives
E) increased market share and increasing profitability

Question

Quizplus · Accepted Answer

A company's broad mission statement sets the overall direction and purpose of the organization. It is a statement that guides decision-making, strategy development, and goal-setting for the company. However, a broad mission statement alone does not lead to specific outcomes such as increasing profits, gaining more customers, or increasing sales.
Instead, a hierarchy of objectives is needed, including both business objectives and marketing objectives, to translate the company's broad mission into specific goals that can be achieved. Business objectives are focused on achieving financial performance, such as increasing profits or reducing costs, while marketing objectives are focused on achieving specific marketing outcomes, such as increasing market share or improving customer satisfaction.
Therefore, the best choice is D, as a broad mission statement should lead to the development of a hierarchy of objectives, including business objectives and marketing objectives.

A Company's Broad Mission Leads to ________