Define mission statement and business strategy and describe the relationship between the two
What will be an ideal response?
Answer: A mission statement explains why an organization exists. It describes what is important to the organization, called its core values, and identifies the organization's domain. A business strategy identifies the firm's targeted customers and sets time frames and performance objectives for the business. The mission statement provides a more global picture, while the business strategy addresses who the targeted customers and markets are, areas of sustainable competitive advantage, the role of supply chain partners, and time frames and performance objectives.
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Zennia Company provides its employees with varying amounts of vacation per year, depending on the length ofemployment. The estimated amount of the current year's vacation cost is $135,000 . The journal entry to recordthe adjusting entry required on December 31, the end of the current year, to record the current month's accruedvacation pay is
a. $135,000 b. $67,500 c. $0 d. $11,250
In what ways does franchising benefit the franchisor? In what ways does it benefit the franchisee?
What will be an ideal response?
Name four input controls and describe what they test?
The management at Vision, a company that specializes in high-end eyewear, was dissatisfied with the performance of the marketing intermediaries’ in promoting its products. The company decided to sell its products only through standalone, exclusive boutiques owned and maintained by Vision. This is an example of:
a. forward integration. b. associative integration. c. balanced integration. d. horizontal integration.