Answered: Question 2 Create a mission statement.…

Question 2 Create a mission statement. Question 3 Create a vision statement. Question 4 What will your strategy be? Question 5 Outline one organizational goal and one operating

Principles of Management

OER 2019th Edition

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax

Chapter9: The Strategic Management Process: Achieving And Sustaining Competitive Advantage

Section: Chapter Questions

Problem 1CRQ: What does a mission statement explain about a firm that a vision statement does not?

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Concept explainers

Organizational Strategy

Organizational strategy is an activity to achieve a long-term goal with effective planning and practice. In an organizational strategy, the company takes the initiative to prepare a strategic plan with the involvement of all levels of employees to ensure the proper functioning of a business. The organizational strategy depends on culture, staff involvement, values, and an organized system of an organization. In a marketing and sales company, there must be an organizational strategy to promote a brand effectively.

Question

Scenario

You have been tapped to start a new division for Wells Fargo that will be working to build new communities around the country. Your division will partner with local chambers of commerce and home builders to create the quintessential American community.

Question 1

How will you structure your division and why?

Question 2

Create a mission statement.

Question 3

Create a vision statement.

Question 4

What will your strategy be?

Question 5

Outline one organizational goal and one operating goal.

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