alleryStart learning →A formal document that states an organization's purpose and its reason for existing is called what?
AA contingency plan
BAn operating budget
CA tactical plan
DA mission statement
Answer & Solution
Correct answer: D. A mission statement
1. An organization's mission is formalized in its mission statement.
2. That document states the purpose of the organization and its reason for existing.
3. Plans and goals at the tactical and operational levels should clearly support the mission statement.
4. A budget is a financial schedule and a tactical plan is a shorter-range plan, so neither carries the statement of purpose.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 6 "Management and Leadership in Today's Organizations", section 6.2 Planning_
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