Question

The corporate mission is best described by which one of the following?

A) a description of the activities carried out by the organization
B) the purpose or reason for the corporation's existence
C) a description of top management's responsibilities
D) a statement of corporate objectives
E) a statement of what the organization would like to become

Answer 1

The corporate mission is best encapsulated as the purpose or reason for a corporation's existence, which informs its strategy and aligns with codes of ethics within legal and societal frameworks.

Step-by-step explanation:

The corporate mission is best described by (B) the purpose or reason for the corporation's existence. A corporate mission succinctly articulates the goals and philosophies underlying the business. It goes beyond the day-to-day operations and management responsibilities, providing a sense of direction and a summary of the values and objectives that inform a corporation's strategies and practices. As such, it also differs from a statement of what the organization would like to become, which is more forward-looking and aspirational.

To put this into context, businesses operate within a framework of laws and regulations set by governments. Part of fulfilling their mission involves adhering to a code of ethics that conforms to legal standards and societal values, covering concrete issues such as anti-discrimination policies, environmental responsibilities, and proper conduct in business operations.