Which Of The Following Is One Of The Five Major Characteristics Of Good Mission Statements? | MCQ

Multiple Choice Question | Which Of The Following Is One Of The Five Major Characteristics Of Good Mission Statements?

A Mission Statement specifies the purpose for which the company came into existence. It defines what to do and how to operate to achieve goals? The existence of a business is based on its mission to be pursued in its whole life, otherwise, the base of the business is finished and it has to shut down. So, this is the main characteristic of mission statement for a company.

The correct answer is (C) "They define the major competitive spheres within which the company will operate", as in this characteristic of Mission Statement, the company needs to identify the types of industry, its product or services, its targeted customers in the specific market and its vertical participation in which it will compete with its competitors. So, after identifying its major competitors to whom the company will compete, the company can gain competitive advantage by producing unique quality products or services better than its competitors.