Read the case study of Merck. A formal, in-depth case study analysis requires you to utilize the
Question:
Read the case study of Merck. A formal, in-depth case study analysis requires you to utilize the entire strategic management process.
Required:
Assume you are consulting team asked by Merck to analyze its external/internal environment and make strategic recommendations. You must include exhibits to support your analysis and recommendations.
Write a paper in which you need to address the following:
1. Existing mission, objectives, and strategies
2. A new mission statement (include the number of the component in parenthesis before addressing that component)
Great mission statements address these 9 components:
Customers: Who are the firm’s customers?
Products or services: What are the firm’s major products or services?
Markets: Geographically, where does the firm compete?
Technology: Is the firm technologically current?
Concern for survival, growth, and profitability: Is the firm committed to growth and financial soundness?
Philosophy: What are the basic beliefs, values, aspirations, and ethical priorities of the firm?
Self-concept: What is the firm’s distinctive competence or major competitive advantage?
Concern for public image: Is the firm responsive to social, community, and environmental concerns?
Concern for employees: Are employees a valuable asset of the firm?
3. Analysis of the firm’s existing business model
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley