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Having a mission statement is: critical for a company's success good to develop once a product is launched not a key element of success an outdated idea A mission statement: describes the management structure of the company tells customers who and what a company is outlines career paths available to employees describes the history of the company and provides background on the manag When a company's mission statement changes: it's because a new product line has been introduced. it's a sign that the company has experienced rapid growth. employees can be confused about the company's goals and directic it's because the company has gone from privately held to public. A key component of creating competitive advantage is: pricing below one's competitors having a dedicated sales force bundling the core product with other products under the same brand understanding the assets (value) the product or brand already has The example company didn't understand that: they needed to stick with their verified customer base. Millenials hold authenticity as a key value. they were in the maintain phase of their product life cycle. they needed a new director of marketing. Which of the following do the authors identify as a risk in relying too heavily on dashboards? People can enter dashboard data incorrectly. Dashboard technology can crash. Competitors can gain an advantage from unauthorized access to a dashboard. Analytics can be calculated incorrectly. What solution do the authors offer to the challenge of a dashboard "serving too many masters"? Companies can restrict employee access to dashboards to those only at manager level or above. Companies can turn to alternative tools other than dashboards. Companies can outsource the creation and maintenance of their dashboards. Companies can build multiple instances of the dashboard based on who needs to see the data