Question: Should firms begin their strategic planning process by setting vision and mission and then go on to analyze its environment? Or, should firms first consider

Should firms begin their strategic planning process by setting vision and mission and then go on to analyze its environment? Or, should firms first consider their environment and then shape vision and mission around it? What are benefits and drawbacks to each approach?

References

Maijanen, P. (2020). Teaching Strategic Management. Edward Elgar Publishing. https://www.elgaronline.com/downloadpdf/edcoll/9781788978354/9781788978354.00009.pdf

Meyer-Cuno, Doug. (2021, February 21). Is a vision statement important? Forbes.

forbes.com/sites/forbesbooksauthors/2021/02/24/is-a-vision-statement-important/?sh=6933640a3be7

Sedmak, J. (2021, March 11). What is Stakeholder Engagement, and Why is it Important for Strategic Planning? https://www.smestrategy.net/blog/stakeholder-engagement-management-for-strategic-planning

Amanda J. Gregory, Jonathan P. Atkins, Gerald Midgley, Anthony M. Hodgson. (2020) Stakeholder identification and engagement in problem structuring interventions. European Journal of Operational Research. (283)1. 321-340. https://doi.org/10.1016/j.ejor.2019.10.044.

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