Group Assurance of Learning Exercise 1 Question #3.
Group Assurance of Learning Exercise 1
- Answer questions 1-28, 1-29, 1-32, 1-34, and 1-41 on textbook page 22. (Note: Treat a question that asks your opinion like any other question; cite and reference per current APA. Hence, support your work as your opinion can be wrong.)
1-28 Explain why the strategic management class is often called a capstone course .
1-29 What aspect of strategy formulation do you think requires the most time? Why?
1-32 Explain the importance of a vision and a mission statement.
1-34 Why do you think some chief executive officers fail to use a strategic-management approach to decision making?
1-41 In your opinion, what is the single major benefit of using a strategic-management approach to decision making? Justify your answer.
- Answer questions 2-14, 2-21, 2-22, 2-27, and 2-28 on textbook page 53. (Note: Treat a question that asks your opinion like any other question; cite and reference per current APA. Hence, support your work as your opinion can be wrong.)
2-14 Compare and contrast vision statements with mission statements in terms of composition and importance.Williams
2-21 In your opinion, what are the three most important components that should be included when writing a mission statement? Why?Williams
2-22 How would the mission statements of a for-profit and a nonprofit organization differ?Williams
2-27 List eight benefits of having a clear mission statement.Williams
2-28How often do you think a firm’s vision and mission statements should be changed?
- Complete Assurance of Learning Exercise 2B, Steps 1–2, for Advance Auto Parts, Barnes & Noble, Estée Lauder, Family Dollar Stores, FedEx, and Ford Motor Company on textbook page 54.
Step 1 On a clean sheet of paper, prepare a 9×6 matrix. Place the nine mission statement components down the left column and the following six companies across the top of your paper.
Step 2 Write Yes or No in each cell of your matrix to indicate whether you feel the particular mission statement includes the respective component.
|Advance Auto||Barnes & Noble||Estee Lauder||Family Dollar||FedEx||Ford Motor Company|
|Products or Services|
|Concern for Survival, Growth, and Profitability|
|Concern for Public Image|
|Concern for Employees|
- Have your group leader place the results of the exercise(s) in a single document and post it to the Group Assurance of Learning Exercise 1 forum of your Group Discussion Board Forum. Include your names, class, section number, group number, and the number of the exercise(s) on the attachment (e.g.: 1B, Step 3). Be sure that the assignment is in a business-professional format; include current APA citing and referencing.
Submit this assignment by 11:59 p.m. (ET) on Monday.