Compare and contrast the near-end-of-chapter quotes by Alexander the Great and Bear Bryant regarding the importance of strategic planning in military or athletic settings. How applicable are those quotes in a business setting? Discuss.
Answer to relevant QuestionsWhat do you believe are some potential pitfalls or risks in using a strategic-management approach to decision making? List four financial and four nonfinancial benefits of a firm engaging in strategic planning. Why are strategic planning retreats often conducted away from the work site? How often should firms have a retreat, and who should participate in them? Why do you think organizations that have a comprehensive mission statement tend to be high performers? Does having a comprehensive mission cause high performance? Explain how a firm such as J. Crew can be doing well, but does not have an effective vision or mission statement.
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