Which of the following statements regarding firm mission is accurate?
A) While some firms have used their missions to develop strategies that create significant competitive advantages, firm missions can hurt a firm's performance as well.
B) Virtually all firms have used missions to develop strategies that create significant competitive advantages, while very few firms have used missions that can hurt their performance.
C) It is very rare for firms to be able to use their missions to develop strategies that create significant competitive advantages, and most firm missions actually hurt their performance.
D) Missions tend to have very little impact on a firm's ability to create significant competitive advantages.

Question

Quizplus · Accepted Answer

While some firms have successfully used their missions to develop strategies that create significant competitive advantages, other firms have failed to do so and may actually be hurt by their mission statement. Additionally, some firms may have mission statements that are too vague or unrealistic, which can hinder performance. Therefore, statement A is the most accurate.

Which of the Following Statements Regarding Firm Mission Is Accurate