4. (a) Discuss the difference between mission and vision of a corporation. (b) Briefly describe the main steps of the strategic management model.
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4. (a) Discuss the difference between mission and vision of a corporation.
(b) Briefly describe the main steps of the strategic management model.
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- Business Strategy and Policy 7. Discuss the four (4) potential issues within strategic implementation which the group may face. Discuss a remedy for each issue discussed.Mr. John Francois, the owner of John Francois Stores has been operating asuccessful business since 1977. However, he is not fully aware of whatstrategic management and planning entails. As a trust worthy employee, Mr.Francois has asked you to host a weekend retreat with him, his familymembers, and selected members of staff so that you can advise them aboutwhat strategic management and planning entails as well as how important itis for the organization to engage in strategic management and planning.What would you say to the members present at the retreat so that they canhave a very good understanding of what strategic management and planningentails, and why they should engage in the process so as to maintain thecompetitive advantage of John Francois Stores?a. Explain mission of Bonia Company: What business(es) is the corporation in? Why?b. Explain objectives of Bonia Company: What are the corporate, business, and functional objectives? Are they consistent with each other, with the mission, and with the internal and external environments?c. Explain strategies of Bonia Company: What strategy or mix of strategies is the corporation following? Are they consistent with each other, with the mission and objectives, and with the internal and external environments?
- Choose (1) organization. Present the company's profile, mission, vision, goals and strstegic planning they use.What is the importance of a vison and mission statement?1. In a paragraph, formulate an analysis about the big lie in strategic planning by Roger L. Martin. 3. What is the big lie in “The big lie in strategic planning” by Roger L. Martin. 3. What is the importance of strategic planning in an enterprise.
- 3. Discuss the nature of an organization’s environments, and identify and describe the components of its general, task, and internal environments 4. Summarize the planning process, and describe organizational goals.What is a mission statement, and how should a firm define its business mission? Give examples to illustrate a good and bad mission statement.1. Do you believe it is important for a business to establish and clearly communicate longterm and annual objectives? Why or why not? 2. Does your organization establish objectives? If yes, what type and how many? How are the objectives communicated to individuals? Are your firm’s objectives in written form or simply communicated orally? 3. To what extent are managers and employees involved in the process of establishing objectives? 4. How often are your business objectives revised and by what process? please answer the above questions.