Unit 7a: Mission Statements and Vision Statements

Question 1

instead of MS other companies prefer to have

Answer 1

vision statemetn

Question 2

some bs draw uo both

Answer 2

MS and VS

Question 3

What’s the differen between a MS and a VS

and what does this mean for the MS

Answer 3

ms - States businesses purpose, why it exists

VS - sets out what it wants to do / be in the future

Therefore a MS relates to the bs current position and is intended to provide info to STKH

Question 4

Vision statements tend to be

Answer 4

longer term

Question 5

why do VS tend to be LT

Answer 5

Look to the future

and can be source of inspo to stkh (like employees and suppliers)

Question 6

What should enable a bs to fulfill its vision

Answer 6

achieving targets embedded in its corp objectives

Question 7

What is the order of framework for senior managers to work within

Answer 7

MS
VS
Strategy
Corp Obj

Question 8

What does the frameworj play an important role in

Answer 8

communicating an org

purpose
intentions
plans and progress to ramge of stkh

Question 9

definiton of VS

Answer 9

sets out bs aspirations for the future