A company may describe its business by communicating the industry in which it operates. For example, the real estate business, advertising business, or mattress production business are industries in which a business can exist.
The term business can take on two different meanings. The first refers to an entity that operates for commercial, industrial, or professional reasons. The entity generally begins with a concept (the idea) and a name. Extensive market research may be required to determine how feasible it is to turn the idea into a business. 3
A firm is a business organization—such as a corporation, limited liability company, or partnership—that sells goods or services to make a profit. A company is a legal entity formed by a group of individuals to engage in and operate a business enterprise.
A corporation is a business in which a group of people acts together as a single entity; most commonly, owners of a corporation are shareholders who exchange consideration for the corporation's common stock.
The answer is A) mission. A mission statement explains why an organization is in business.
Which of the following best expresses the relationship of a company vision to its mission? The mission statement is the written expression of the company vision.
The purpose of a mission statement is to communicate the organisation's purpose and direction to its employees, customers, vendors, and other stakeholders.
The vision and mission statements provide a focal point that helps to align everyone with the organization, thus ensuring that everyone is working towards a single purpose. This helps to increase efficiency and productivity in the organization.