One

A mission statement is a declaration of an organization's financial status. True or False.

False

A mission statement is usually just a simple statement of specific details. True of False.

False

According to Drucker, the most important time for a company to develop mission and vision statements is when the company is experiencing financial difficulty. True or False.

False

If an organization chooses to have both a mission and a vision, the mission statement should be established first. True or False.

False

When developing a mission statement, it is usually advisable to involve as few managers as possible. True or False.

False

Whereas the mission statement answers the question, "What do we want to become?" the vision statement answers the question, "What is our business?" True or False.

False

While vision and mission statements are part of numerous internal reports, they should never be displayed in a firm's premises. True or False.

False

A mission statement is a declaration of an organization's reason for being. True or False.

True

A mission statement promotes a sense of shared expectations among all managers and employees. True or False

True

Carefully prepared statements of vision and mission are widely recognized as the first step in strategic management. True or False.

True

In multidivisional organizations, each division should develop a mission statement consistent with and supportive of the corporate mission. True or False.

True

In order to motivate a workforce effectively, both profit and vision are needed. True or False.

True

Mission statements are sometimes difficult to derive because top management may disagree over company objectives. True or False.

True

Vision and mission statements can often be found in the front of annual reports. True or False.

True

When developing a vision statement, input should be received from as many managers as possible. True or False.

True