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      Question

      Which statement answers the question “Why a

      company exists?”
      A Vision Statement Correct Answer Incorrect Answer
      B Mission Statement Correct Answer Incorrect Answer
      C Value Statement Correct Answer Incorrect Answer
      D Purse Statement Correct Answer Incorrect Answer
      E All of the above Correct Answer Incorrect Answer

      Solution

      Organizations summarize their goals and objectives in mission and vision statements. Both of these serve different purposes for a company but are often confused with each other. While a mission statement describes what a company wants to do now, a vision statement outlines what a company wants to be in the future. The Mission Statement concentrates on the present; it defines the customer(s), critical processes and it informs you about the desired level of performance. The Vision Statement focuses on the future; it is a source of inspiration and motivation.

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