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