You have managed Indiana’s Best Appliances franchises for 15 years and have 100 employees. Business has been profitable, but you are concerned that the Fort Wayne locations could soon experience a downturn in growth. You have decided to prepare for such an event by engaging in a higher level of strategic planning, beginning with a company mission statement.
a. How does a mission statement add strength to the strategic planning process?
b. Who should be involved in developing a mission statement and why?
c. What factors should be considered in the development of a mission statement?
Why are these factors important?