MGMT410 Week 2 DQ: Defining Strategic Management

Description

Discussion Assignment

Choose ONE (1) of the questions below and answer (in your own words please – do not copy from the text):

1 – Explain the three components of strategic management (Figure 1.1)

2 – Find a company with a “mission statement”. Do not use the military please. Pick a commercial company that is not routinely discussed. Select a company with a mission statement and tell us whether or not you think the statement is constructive and provides employees with motivation and strategic direction. When reading the mission statement does it reveal the nature of the business? Include the mission statement in your post in italics.

3 – Describe the differences between a vision statement, values statement and mission statement and why are they all important?