Explore BrainMass
Share

Strategic Planning & Management

I want to answer the following questions using 100-150 words per question with atleast one reference per question. Thank You for your help..

1. What is strategic management? What are the roles of mission and vision statements in strategic management? Can an organization have a successful strategic plan without effective mission and vision statements? Why or why not?

2. What is the difference between mission and vision statements? What factors need to be considered to produce an appropriate mission statement and vision statement for an organization?

3. What is strategic planning? What is the purpose of strategic planning? Why is it necessary? What are the components of a strategic plan? Which component is the most important? Why?

© BrainMass Inc. brainmass.com July 21, 2018, 9:09 pm ad1c9bdddf

Solution Preview

1. What is strategic management? What are the roles of mission and vision statements in strategic management? Can an organization have a successful strategic plan without effective mission and vision statements? Why or why not?

Strategic management is a level of managerial activity that should be used in organizations in wide, various functions at the highest possible level. Strategic management considers the objectives of the organization. In uncovering these objectives, there is a need to identify the landscape within which the company will operate by creating their Mission Statement and vision statement. The Mission Statement declares why an organization exists, it concentrates on the present and it reflects on the core competencies of the organization. The Vision Statement states on what the organization wants to be in the future. They are critical to the success of strategic planning because the mission statement identifies the beginning and the present state of the business while the vision statement is also ...

Solution Summary

The solution discusses about strategic management and the role of mission and vision statements in strategic management. It also differentiates mission and vision statements and defines strategic planning. References are included.

$2.19