An effective business mission statement is:
a. based on an analysis of anticipated environmental conditions.
b. defined in terms of the products and services the company produces.
c. based on short-term thinking and marketing myopia.
d. developed independently of the external business environment.
ANSWER: a
The way a firm defines its business mission profoundly affects the firm's long-run resource allocation, profitability, and survival. The mission statement is based on a careful analysis of benefits sought by present and potential customers, and an analysis of existing and anticipated environmental conditions.
You might also like to view...
When assessing fair value of Level 2 assets, auditors will use information on the sale of identical items in active or inactive markets as a source of audit evidence
a. True b. False Indicate whether the statement is true or false
The _____________ is an international network of business leaders who are committed to promoting the concept of moral capitalism.
a. The Caux Round Table Principles b. Kyoto Treaty c. The Organization of Economic Co-operation and Development guidelines for multinational enterprises d. The United Nations Global Impact
Which of the following is a rightful dissociation?
a. A partner in a partnership at will serves notice that he intends to withdraw. b. A partner in a term partnership withdraws before the end of the term. c. A partner in a term partnership becomes bankrupt. d. A partner violates the partnership agreement.
Stephens, Inc had 140,000 shares of $5 par value common stock issued and outstanding as of December 15, 2016
The company is authorized to issue 1,000,000 common shares. On December 15, 2016, Stephens declared a 40% stock dividend when the market value for its common stock was $9 per share. The stock was issued on Dec. 30. Prepare the journal entries to record the declaration and distribution of the stock dividend. Explanations are not required. Compute the total shares after the dividend. What will be an ideal response