A purpose statement, which is often referred to as an organizational mission or vision, is a statement of a company's purpose or reason for existing. O True O False

A well constructed formal business plan business plan provides the following benefits (select ALL that apply):   a. Is used as a tool for communication with outside financial sources   b. Is essentially a roadmap that helps align key stakeholder   c. Forces the entrepreneur to think critically and objectively   d. Summarizes projected capital & resource requirements   e. Outlines operating strategies & expected results

The profitable marketing investments should have internal rate of return lower than the interest rate paid on borrowed capital (cost of capital) True False

One of the following statements about goals or objectives is NOT true. Seleccione una: a. GOALS and OBJECTIVES are basically synonyms in the strategic Management literature. b. GOALS and OBJECTIVES are basically synonyms in the English language c. Shorter-term Marketing Plans focus more on objectives than goals. d. In the literature about planning it is recommended that OBJECTIVES have numbers and dates (or time periods) e. GOALS are more general and longer term than OBJECTIVES (in the strategic management literature)