The correct answer is -(a) and (b) both Key Points Mission provides direction to corporate planning The mission serves as a foundation for setting the organization's long-term goals and objectives. It guides management in making decisions that align with the firm's overarching vision. By providing a clear direction, it ensures that resources are allocated effectively toward achieving desired outcomes. Mission clarifies the aspirations of the firm The mission statement expresses the firm's core purpose, values, and aspirations.