A firm's ________ is its long-term purpose that defines both what it aspires to be in the long run and what it wants to avoid in the meantime.
A) mission
B) strategy
C) objective
D) goal

Question

Quizplus · Accepted Answer

A firm's mission statement outlines its long-term purpose and provides direction for its strategy and objectives. It defines what the firm aspires to be and what it wants to avoid, and guides decision-making at all levels of the organization. A strategy is a plan for achieving the mission, while objectives and goals are specific targets that support the strategy.

A Firm's ________ Is Its Long-Term Purpose That Defines Both