Are “strategic management” and “strategic planning” synonymous terms? Explain.
Answer to relevant QuestionsWhat are the three stages in strategic management? Which stage is more analytical? Which relies most on empowerment to be successful? Which relies most on statistics? Justify your answers. Explain why a mission statement should not include monetary amounts, numbers, percentages, ratios, goals, or objectives. Explain the principal value of a vision and mission statement. Some excellent nine-component mission statements consist of just two sentences. Write a two-sentence mission statement for a company of your choice. Do the advantages of a low value of the dollar offset the disadvantages for (1) a firm that derives 60 percent of its revenues from foreign countries and (2) a firm that derives 10 percent of its revenues from foreign ...
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