Strategic Management Concepts: Analyzing Mission, Vision, and Evolving Business Strategies
Assessment of evolving business strategies and their impact on corporate success.
Caleb Patterson
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Strategic Management Concepts: Analyzing Mission, Vision, and Evolving Business Strategies
1. Question : The difference between the concept of a company mission
statement and the concept of a strategic vision is that
Student Answer: a mission statement typically concerns a company’s present
business scope (“who we are and what we do”) whereas the
principal concern of a strategic vision is with the company’s long
term direction and future product-customer-market-technology
focus.
the mission is to make a profit, whereas a strategic vision
concerns how to attract customers.
a mission statement deals with what to accomplish on behalf
of shareholders and a strategic vision concerns what to accomplish
on behalf of customers.
a mission concerns what to do to achieve short-run objectives
and a strategic vision concerns what to do to achieve long-run
performance targets.
a mission statement deals with “where we are headed ”
whereas a strategic vision provides the critical answer to “how
will we get there?”
Points Received: 1 of 1
Comments:
2. Question : Leading the effort to operate a company in an ethically-principled
fashion involves the CEO and other senior executives
Student Answer: setting an excellent example in their own ethical behavior and
demonstrating integrity in their actions and decisions.
leading social responsibility initiatives to make the company a
good corporate citizen.
declaring unequivocal support of the company’s ethics code
and taking an uncompromising stand on expecting all company
personnel to conduct themselves in an ethical fashion at all times.
1. Question : The difference between the concept of a company mission
statement and the concept of a strategic vision is that
Student Answer: a mission statement typically concerns a company’s present
business scope (“who we are and what we do”) whereas the
principal concern of a strategic vision is with the company’s long
term direction and future product-customer-market-technology
focus.
the mission is to make a profit, whereas a strategic vision
concerns how to attract customers.
a mission statement deals with what to accomplish on behalf
of shareholders and a strategic vision concerns what to accomplish
on behalf of customers.
a mission concerns what to do to achieve short-run objectives
and a strategic vision concerns what to do to achieve long-run
performance targets.
a mission statement deals with “where we are headed ”
whereas a strategic vision provides the critical answer to “how
will we get there?”
Points Received: 1 of 1
Comments:
2. Question : Leading the effort to operate a company in an ethically-principled
fashion involves the CEO and other senior executives
Student Answer: setting an excellent example in their own ethical behavior and
demonstrating integrity in their actions and decisions.
leading social responsibility initiatives to make the company a
good corporate citizen.
declaring unequivocal support of the company’s ethics code
and taking an uncompromising stand on expecting all company
personnel to conduct themselves in an ethical fashion at all times.
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Subject
Business Management