CA Intermediate · Financial Management and Strategic Management · Introduction to Strategic Management
Tarini Textiles, a Surat firm, states that it wants to 'be the most trusted supplier of sustainable fabrics in South Asia by 2035'. In the strategic management hierarchy, this statement is best described as the firm's:
The statement is a vision. A vision describes the future position the organisation aspires to reach, here being the most trusted sustainable fabric supplier in South Asia by 2035. A mission, by contrast, explains the current purpose and activities of the business.
- AVisionCorrect
- BMission
- COperating budget
- DFunctional policy
Explanation
A vision is a forward-looking statement of what the organisation wants to become in future. The statement gives a future position and a target year, so it is a vision. A mission describes the present business, purpose and customers served, so it is not the best fit.
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