Roles of mission, vision statements in strategic management
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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?
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What is strategic management?
I viewed a number of definitions of strategic management but favored the one which lists 4 steps or components in the process of strategic management. They are:
1. Environment scanning which means to gather information in order to make a plan.
2. Strategy formulation is deciding on a course of action to achieve goals
3. Strategy implementation involves getting the process going to design, allocate resources, develop decision making and manage human resources.
4. Strategy evaluation is to determine that goals are being ...
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