Which of the following defines a business,differentiates it from competitors,explains relationships with stakeholders,and focuses energy on critical activities and goals?
A) Mission statement
B) Annual report
C) Social contract
D) Code of conduct

Question

Quizplus · Accepted Answer

A mission statement defines the purpose and values of a business, sets it apart from competitors, and communicates its goals to stakeholders. An annual report provides financial information and highlights achievements, but may not necessarily address these other aspects of a business. A social contract is a broader concept referring to the implicit understanding between a company and its stakeholders regarding responsibilities and expectations. A code of conduct outlines ethical principles and guidelines for behavior, but may not provide a comprehensive overview of the business's purpose and goals.

Which of the Following Defines a Business,differentiates It from Competitors,explains