How can a firm best achieve sustained competitive advantage?
Answer to relevant QuestionsAre “strategic management” and “strategic planning” synonymous terms? Explain. List four components and four guidelines that the J. Crew mission statement fails to exhibit. Write a new and improved mission for J. Crew. Explain why a mission statement should not include strategies and objectives. Explain how a firm such as J. Crew can be doing well, but does not have an effective vision or mission statement. The global recession forced thousands of firms into bankruptcy. Does this fact alone confirm that “external factors are more important than internal factors” in strategic planning? Discuss.
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