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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 Strategies1.Question :The difference between the concept of a company missionstatement and the concept of a strategic vision is thatStudent Answer:a mission statement typically concerns a company’s presentbusiness scope (“who we are and what we do”) whereas theprincipal concern of a strategic vision is with the company’s longterm direction and future product-customer-market-technologyfocus.the mission is to make a profit, whereas a strategic visionconcerns how to attract customers.a mission statement deals with what to accomplish on behalfof shareholders and a strategic vision concerns what to accomplishon behalf of customers.a mission concerns what to do to achieve short-run objectivesand a strategic vision concerns what to do to achieve long-runperformance targets.a mission statement deals with “where we are headed ”whereas a strategic vision provides the critical answer to “howwill we get there?”Points Received:1 of 1Comments:2.Question :Leading the effort to operate acompany in an ethically-principledfashion involves the CEO and other senior executivesStudent Answer:setting an excellent example in their own ethical behavior anddemonstrating integrity in their actions and decisions.leading social responsibility initiatives to make the company agood corporate citizen.declaring unequivocal support of the company’s ethics codeand taking an uncompromising stand on expecting all companypersonnel to conduct themselves in an ethical fashion at all times.

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