You are reading a business document that outlines your compa

You are reading a business document that outlines your company\'s long-term goals and direction. These goals include \"Reduce energy consumption in our offices by 20%,\" \"Grow out market share in China from 3% to 10%,\" \"Enter a strategic alliance with a partner in Australia to begin selling our products in Sydney and Brisbane,\" and \"Equip all sales representatives with an app that allows them to provide an immediate quote when meeting with customers.\" What type of document are you reading?

A: a values statement

B: a business plan

C: a strategic plan

D: a vision statement

E: a SMART goal

Solution

A Vision Statement is an aspirational description of what an organization would like to achieve or accomplish in the mid-term or long-term future. It is intended to serves as a clear guide for choosing current and future courses of action.

A mission statement is a short sentence or paragraph used by a company to explain, in simple and concise terms, its purpose(s) for being. A company’s mission statement seeks to define its culture, values, ethics, and fundamental goals, and how these apply to its stakeholders. The statement reveals what the company does, how it does it, and why it does it. A company’s stakeholders – employees, distributors, suppliers, shareholders, community, etc. – use this statement to align their goals with that of the company.
A mission statement is different from a vision in that the former is the cause and the latter is the effect; a mission is something to be accomplished whereas a vision is something to be pursued for that accomplishment.

Derived from Mission statement, originates strategic plan which focuses on various action plans the company must accomplish to fulfil the mission of the company. Such strategic plans my include all aspects of organization viz operations, Marketing & sales, Human resources , Sustainability and growth etc. For example, “Reduce energy consumption in our office by 20%” is an operational decision, “Grow out market share in China from 3% to 10% “ is a marketing decision, “Enter a strategic alliance with a partner in Australia” is a decision pertaining to organizational sustainability and growth. Thus , it can be concluded that all these are part of the “Strategic Plan” of the company.

ANSWER : C) STRATEGIC PLAN