Which of the following terms refers to a formal statement in an organization's strategic plan that describes the overall purpose of the organization and what it intends to achieve in terms of its customers, products, and resources? A. Business plan B. Mission statement C. SWOT analysis D. Situation analysis E. Return on marketing investment

Question

Lyric Gonzalez

Business

21 July, 06:44

Which of the following terms refers to a formal statement in an organization's strategic plan that describes the overall purpose of the organization and what it intends to achieve in terms of its customers, products, and resources? A. Business plan B. Mission statement C. SWOT analysis D. Situation analysis E. Return on marketing investment

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Answers (1)

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Fluffy · Answer 1

The correct answer is B

Explanation:

Mission statement is one of the statement which is described what a firm is, why the firm exists, the reason for being or existence. At the minimum, the mission statement defined as who the primary customers are, recognize the services and products which the firm produce and also define the geographical location in which the business operate.

So, the mission statement is the formal statement states the strategic plan describe the overall motive of the business.