Which of the following describes the primary goal of a firm? A. tactical plan B. mission statement C. operating plan D. bottom-up plan E. contingency plan
Question
Which of the following describes the primary goal of a firm? A. tactical plan B. mission statement C. operating plan D. bottom-up plan E. contingency plan
Solution
The primary goal of a firm is best described by B. Mission Statement. A mission statement defines a company's business, its objectives and its approach to reach those objectives. It provides a clear direction for the firm and helps in making strategic decisions. Other options like tactical plan, operating plan, bottom-up plan, and contingency plan are all tools or methods that a company might use to achieve its primary goal, but they are not the goal itself.
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