Strategic management paper

Strategy in business is similar to strategy in sports, war, or politics; the parallels are so close that early business strategists studied military strategies in depth. The science of strategy development has progressed beyond this by now, but the parallels remain. Still, understanding the history of strategy will shed light on the modern concepts of strategic management.

PART 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?
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?

Please write an essay of complete and well composed paragraphs (250 word minimum for the entire essay) Be sure to use in text citation and provide references for your sources. Wikipedia is not a source.

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.

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?

Last Updated on February 11, 2019