What are some different names for “mission statement,” and where will you likely find a firm’s mission statement?
Answer to relevant QuestionsIf your company does not have a vision or mission statement, describe a good process for developing these documents. 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. Distinguish between market commonality and resource similarity. Apply these concepts to two rival firms that you are familiar with. Explain how to conduct an external strategic-management audit. Let’s say your boss develops an EFE Matrix that includes 62 factors. How would you suggest reducing the number of factors to 20?
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