Skip to content

CA Intermediate · Financial Management and Strategic Management · Introduction to Strategic Management

Ananya Retail's leadership prepares a statement saying the firm exists to 'provide affordable everyday groceries to urban families through reliable home delivery'. This statement describes the firm's present business, its customers and how it serves them. This statement is best termed its:

The statement is a mission, because a mission explains the organisation's present purpose: what it does, whom it serves and how. A vision describes a future aspiration, while a strategic plan and a goal are action programmes or specific targets rather than a purpose statement.

  1. AMissionCorrect
  2. BVision
  3. CStrategic plan
  4. DGoal

Explanation

A mission statement describes the organisation's purpose, what it does, for whom and how, in the present. A vision looks to a future aspiration. A strategic plan is a detailed set of actions and a goal is a specific target, so neither matches this purpose statement.

Did you get it right without looking?

One question tells you little. A timed set on Introduction to Strategic Management shows your real accuracy, how long you take and where you lose marks.

Practise Introduction to Strategic ManagementFree diagnostic mock

More Introduction to Strategic Management questions