How often do you feel a firm’s vision and mission statement should be changed?
Answer to relevant QuestionsExplain how a firm such as J. Crew can be doing well, but does not have an effective vision or mission statement. Explain how developing a mission statement can help resolve divergent views among managers in a firm. Governments worldwide are turning to “nationalization of companies” to cope with economic recession. What are the strategic implications of this trend for firms that compete with these nationalized firms? Why is inclusion of about 20 factors recommended in the EFE Matrix, rather than about 10 factors or about 40 factors? How does the external audit affect other components of the strategic-management process?
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