Question: QUESTION 1 Justify the concept that the mission statement is the first step in the strategic management process. How does it relate to the other

QUESTION 1

Justify the concept that the mission statement is the first step in the strategic management process.

How does it relate to the other parts of the strategic management process and to a firm's business and corporate strategy?

QUESTION 2

(a) Please define 'strategy'.

(b) Discuss the importance of an understanding of strategic management in business.

QUESTION 3

Explain the purpose of SWOT analysis in business and discuss why it should precede strategy selection.

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