A broad statement of what business the company should be in is the

• A. Vision
• B. Strategy
• C. Corporate Mission
• D. Objective

Answer: (C)

This question is about defining the purpose and scope of a business—the big, guiding reason for why the company exists and what broad area it will operate in. The statement that describes the business the company should be in, the markets it serves, and the value it aims to deliver is the corporate mission. It sets the overall direction and boundaries for all activities and decisions.

A vision looks ahead to the desired future state of the company, often aspirational. A strategy is the plan for how to achieve that future state. Objectives are the specific, measurable targets the company aims to hit. Because the mission focuses on the broad domain and purpose of the business itself, it is the best fit for describing the overall scope of the company.