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All 20 Flashcards — Vision and mission statements
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Question
Define a vision statement.
Answer
A vision statement describes where a business wants to be in the future. It is a long-term aspiration.
💡 Hint
Vision = future destination.
Question
Give one reason why a mission statement helps decision-making.
Answer
Managers can use it as a filter by asking whether a decision supports the mission and values of the business.
💡 Hint
Mission guides choices.
Question
In exams, what is the safest way to explain the difference between vision and mission?
Answer
State that vision is future aspiration (where the business wants to be), while mission is present purpose (what it does now, for whom, and how).
💡 Hint
Give both time focus + meaning.
Question
Vision statements are mainly ______-focused.
Answer
Future-focused.
💡 Hint
One word: future.
Question
Define a mission statement.
Answer
A mission statement explains what the business does now, who it serves, and why/how it operates.
💡 Hint
Mission = what we do now.
Question
A good mission statement answers what three questions?
Answer
What do we do, who do we serve, and how do we do it.
💡 Hint
What + Who + How.
Question
How can vision/mission statements motivate employees?
Answer
They create purpose and meaning, making employees feel they are working toward something important.
💡 Hint
Purpose = motivation.
Question
When writing a mission statement in an exam, what three questions should it answer?
Answer
What do we do, who do we serve, and how do we do it (approach/values/unique method).
💡 Hint
Mission = What + Who + How.
Question
State one reason vision/mission statements matter for strategy.
Answer
They provide direction and help align decisions and actions across the business.
💡 Hint
Direction + alignment.
Question
State two stakeholders that vision/mission statements can influence positively.
Answer
Customers (brand identity/values) and investors/partners (clarity of purpose and direction).
💡 Hint
Think: who chooses to support the business?
Question
If a question asks whether actions align with a mission, what should you do first?
Answer
Identify the mission’s key promises/values, then compare the business’s actions in the stimulus to those promises.
💡 Hint
Extract mission keywords, then test actions.
Question
State one difference between a vision and a mission statement.
Answer
Vision is future-focused (where the business wants to be). Mission is present-focused (what the business does today and for whom).
💡 Hint
Vision = future. Mission = present.
Question
State two characteristics of a strong vision statement.
Answer
It should be inspiring and ambitious, and it should be short and memorable.
💡 Hint
Vision qualities: inspiring + future aspiration.
Question
What happens if a business’s actions do not match its mission?
Answer
Stakeholders may see the business as hypocritical, causing loss of trust and reputation damage.
💡 Hint
Actions must match words.
Question
True or false: A mission statement is useful even if it is never communicated to employees.
Answer
False. If it is not communicated, employees cannot use it to guide behaviour.
💡 Hint
If no one knows it, it cannot guide.
Question
What is a common mistake when students write mission statements in exams?
Answer
Writing something vague that does not specify what the business does, who it serves, or how it operates.
💡 Hint
Avoid generic phrases.
Question
What is the exam rule when using vision/mission in answers?
Answer
Always link the vision/mission to the specific business and its context in the question.
💡 Hint
Apply to the case.
Question
State one exam tip for writing a mission statement from stimulus material.
Answer
Use the stimulus to pull specific products/services, target market, and the business’s values or unique approach.
💡 Hint
Use the case facts.
Question
State one reason a mission statement can become ineffective over time.
Answer
If it is not updated as the business changes, it may become irrelevant and stop guiding behaviour.
💡 Hint
Mission must evolve.
Question
Complete this: Vision = WHERE we are going. Mission = _____.
Answer
WHAT we do every day to get there.
💡 Hint
Vision where, mission what.
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Topic 1.3 hub
Business objectives
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