A broadly defined, enduring statement of purpose that distinguishes a business from others of its type is referred to as which of the following?

Question

Quizplus · Accepted Answer

A business mission is a broad statement of purpose that defines the fundamental objectives of a business and distinguishes it from others of its type. A focus statement is a more specific statement of intent that guides decision-making in a particular area of the business. A tactical plan is a specific action plan for achieving a particular goal, while a strategic statement is a more comprehensive statement of the overall direction and goals of the business.

A Broadly Defined, Enduring Statement of Purpose That Distinguishes a Business