Strategic management Read the entire book, Business Strategy: The Art, Science, and Craft of Decision-Making. This is available at the following link: http://en.wikibooks.org/wiki/Business_Strategy R

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Strategic management

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Read the entire book, Business Strategy: The Art, Science, and Craft of Decision-Making.  This is available at the following link: http://en.wikibooks.org/wiki/Business_Strategy

Read Chapter 4 of Principles of management : Developing Mission, Vision, and Values, sections 4.2, 4.3, 4.5, and 4.6.

part 1

Answer the following questions:

  1. How has modern strategic planning changed since the 1970s? In what ways has strategic planning stayed the same since the 1970s? How do firms use mission and vision statements within a modern organization? 
  2. Research the vision and mission statement of an organization you’re familiar with and share it with the class.  How might you improve on the statements?

Cite any reference used in apa format.

Part 2

Pick an organization you are familiar with and identify which stakeholders ought to be involved in the strategic planning process. What makes these stakeholders particularly important? What unique insights do they offer?  Describe which functional areas are important to the process. Which functional areas are relatively less important?  Identify the most important and influential decision-makers in the strategic planning process. Evaluate the relative importance and their effect on the planning process.Prepare a two page (double-spaced) essay. The paper should be 12-point font, Times New Roman, be at least 500 words, and include a final source list.

Part 3

 consider the following questions for reflection: Should firms begin their strategic planning process by setting vision and mission and then go on to analyze its environment? Or, should firms first consider their environment and then shape vision and mission around it? What are benefits and drawbacks to each approach?

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