The Organisation

Why do businesses exist? (Hint: three answers are correct)

• To create and sustain employment and develop the skills of people

• Create wealth by providing returns on investment

• Finding a niche in the market

• Drive innovation through R&D of new prducts

What types of organisations are there? (Hint: 3 correct answers)

• Public

• Private

• the 4th sector

• the 3rd sector

What is a vision statement in business?

• A vision statement is a description of the desired future state of the country.

• A vision statement is the definiton of the company's business.

• A vision statement is a description of the desired future state of the company.

• A vision statement is a single sentence or a short paragraph .

What is a mission statement in business?

• A mission statement is a definition of the community for which it serves.

• A mission statement is a list of objectives.

• A mission statement identifies a company's business.

• A mission statement is a definition of the company's business, who it serves, what it does, its objectives and its approach to reaching those objectives.

What are core values? (Hint: 3 correct answers)

• Superiority

• Employee performance and productivity

• Attract and retain customers

• Business Growth

What is the purpose of a mission statement in a company?

• The purpose of a mission statement is to guide the actions of the company, spell out its overall goal, provide a path, and guide decision-making.

• The purpose of a mission statement is to list the company's products.

• The purpose of a mission statement is to provide financial reports.

• The purpose of a mission statement is to hire employees.

What elements should a good mission statement include?

• A good mission statement should include the company's goals, ethics, culture, and norms for decision-making.

• A good mission statement should include the company's financial reports.

• A good mission statement should include the company's list of products.

• A good mission statement should include the company's hiring process.

When used correctly how can core values benefit a company?

• Business growth

• Attract and retain customers

• Retain customers

• High staff turnover