According to your understanding, what does the mission statement mean? 2. Why is it important for the organisation to develop a mission statement?
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- Read each statement below and identify the correct term or concept.Q.1.1A process that determines the mission and goals of the business, including the ways in which the goals are to be reached in the long term, and the resources needed for this task.13) Corporate strategy asks which of the following questions? a) Which business should we be in? b) Why should we exit a particular business? c) Both a and b d) Neither a nor bSubject: Strategic management Answer the following questions in a Word file. Use appropriate examples to explain your arguments Q.1) Using a case study of an organization of your choice, explain the concepts of corporate social responsibility and environmental sustainability and how this company maintained a balance between these duties and economic responsibilities to shareholders.
- Question 1 has to do with something NOT being one of the managerial considerations in determining how to compete successfully. 2. A company's strategy concerns (what does it consist of?). 3. The action plan is implemented by management (for what purpose?). 4. The competitive moves and business approaches a company's management is using to grow the business, stake out a market position, attract and please customers, compete successfully, conduct operations, and achieve organizational objectives. It is known as what? 5. The objectives of a well-crafted strategy require management to (do what?). 6. To improve performance, there are many different avenues for outcompeting rivals such as: (know how to compete against rivals). 7. A company's strategy defined as? 8. Every strategy needs what? 9. Question 9 asks which (from a list), is NOT something a company's strategy is concerned with (So, know what it does pertain to). 10. What is NOT a primary focus of a company's strategy? 11. When does…Question 2 The statement that gives a broad description of a firm's objectives and the scope of activities it plans to undertake known as: Mission statement 1 Vision statement 2 Income statement 3 None of the above 4Q1. Mr. John Francois, the owner of John Francois Stores has been operating a successful business since 1977. However, he is not fully aware of what strategic management and planning entails. As a trust worthy employee, Mr. Francois has asked you to host a weekend retreat with him, his family members, and selected members of staff so that you can advise them about what strategic management and planning entails as well as how important it is for the organization to engage in strategic management and planning. What would you say to the members present at the retreat so that they can have a very good understanding of what strategic management and planning entails, and why they should engage in the process so as to maintain the competitive advantage of John Francois Stores?
- Internal Analysis This assignment is based on the NIKE Company In this section, you will study the internal resources, capabilities, core competencies, and value chain of your selected firm 1 Use the VRIO framework to identify the competitive position held by your firm Which, if any, of these resources are helpful in sustaining the firm’s competitive advantage? 2 Identify the core competencies that are at the heart of the firm’s competitive advantage (Remember, a firm will have only one, or at most a few, core competencies, by definition) Submit a report on you findings that is clearly written, well formatted and thoroughly covers this issue Besides addressing each prompt you should justify your answer with significant detail and examine any implications that the issue has on their business strategyQuestion 1 Strategy is an action that managers take to attain one or more of the organization’s goals. Strategy can also be defined as a general direction set for the company and its various components to achieve a desired state in the future. Strategy results from the detailed strategic planning process. A strategy is all about integrating organizational activities and utilizing and allocating the scarce resources within the organizational environment so as to meet the present objectives. Discuss the requirements to do a strategy from external and internal analyses perspectives in the case of ONE (1) logistics company after the end of COVID-19 pandemic.The pursuit of competitive advantage requires a strategist to discover or build a company’s core competencies which will constitute the vehicle that will drive the implementation of successful strategies. A renowned global consulting firm, McKenzie Consulting Group states that “in order to gain and sustain competitive advantage, an organization should at least possess three core competencies which will form the foundation upon which successful strategies are developed”.Required:a. Briefly distinguish resources from core-competencies
- Required: 1. Identify the key problems and issues? 2. Proposed realistic solutions or changes (3 or more) 3. Recommend specific strategy for accomplishing the proposed solutions.Read each statement below and identify the correct term or concept.Q.1.1A process that determines the mission and goals of the business, including the ways in which the goals are to be reached in the long term, and the resources needed for this task.Q.1.2 The turnaround/declines strategy can be defined as the selling of a business or parts of it in line with its mission.Q.1.3 The most basic type of organisational structure where activities belonging to each management function is grouped together.Q.1.4 The type of power based on the manager’s ability to influence employees with something of value to them. It concerns the power to give or withhold rewards.Q.1.5 Type of leadership that goes beyond charisma and can create a realistic, credible, and attractive vision of the future of the organisation.Q4(2). John Francois Stores has experienced success throughout its years of operations. However, there is no one at the organization at present who understands how the organization should be evaluated with the objective of taking corrective action, if required. a. what is the process of strategy evaluation? b. how the objectives are evaluated and what are the challenges that may arise? and how is performace measured?