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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.

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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.

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