Question

What are the four key stages of the strategic management process? Briefly describe the key activities in each stage of the strategic management process.

What are vision, mission, and goals, and why are they important to organizations. Identify a mission statement from an organization that emphasizes each of the elements of the triple bottom line.

How does developing an entrepreneurial orientation have implications for your future career choices? How could you apply the dimensions of entrepreneurial orientation to a job search?

Answer 1

answer-

1- What are the four key stages of the strategic management process? Briefly describe the key activities in each stage of the strategic management process.

the four key stages are-

Step 1: Defining your Mission and vision-

The purpose of goal-setting is to clarify the vision for your business. This stage consists of identifying three key facets: First, define both short- and long-term objectives. Second, identify the process of how to accomplish your objective. Finally, customize the process for your staff, give each person a task with which he can succeed. Keep in mind during this process your goals to be detailed, realistic and match the values of your vision. Typically, the final step in this stage is to write a mission statement that succinctly communicates your goals to both your shareholders and your staff.

step 2-Gather and Analyze Information( SWOT analysis)-

Analysis is a key stage because the information gained in this stage will shape the next two stages. In this stage, gather as much information and data relevant to accomplishing your vision. The focus of the analysis should be on understanding the needs of the business as a sustainable entity, its strategic direction and identifying initiatives that will help your business grow. Examine any external or internal issues that can affect your goals and objectives. Make sure to identify both the strengths and weaknesses of your organization as well as any threats and opportunities that may arise along the path.

step 3-Formulate a Strategy

The first step in forming a strategy is to review the information gleaned from completing the analysis. Determine what resources the business currently has that can help reach the defined goals and objectives. Identify any areas of which the business must seek external resources. The issues facing the company should be prioritized by their importance to your success. Once prioritized, begin formulating the strategy. Because business and economic situations are fluid, it is critical in this stage to develop alternative approaches that target each step of the plan.

step 4-Implement Your Strategy

Successful strategy implementation is critical to the success of the business venture. This is the action stage of the strategic management process. If the overall strategy does not work with the business' current structure, a new structure should be installed at the beginning of this stage. Everyone within the organization must be made clear of their responsibilities and duties, and how that fits in with the overall goal. Additionally, any resources or funding for the venture must be secured at this point. Once the funding is in place and the employees are ready, execute the plan.

2- What are vision, mission, and goals, and why are they important to organizations. Identify a mission statement from an organization that emphasizes each of the elements of the triple bottom line.

A vision statement is a company's road map, indicating what the company wants to become by setting a defined direction for the company's growth.

A mission statement is a short statement of why an organization exists, what its overall goal is, identifying the goal of its operations: what kind of product or service it provides, its primary customers or market, and its geographical region of operation.

Business goals describe what a company expects to accomplish over a specific period of time and are very important for the health and well-being of any company.

they are important to organizations because they help organization to have right direction on which management walk and take decisions effectively by considering. These helps the organization to reduce risks and uncertainity of future. a good mission and vision improve good will of company and morale of employees.

The triple bottom line (TBL) is a framework or theory that recommends that companies commit to focus on social and environmental concerns just as they do on profits. The TBL posits that instead of one bottom line, there should be three: profit, people, and the planet.

addidas mission statement has all three cirteria-

"We are a global organisation that is socially and environmentally responsible, that embraces creativity and diversity and is financially rewarding for our employees and shareholders. "

*as per HomeworkLib policy, i can answer only one question(4 subparts of the same question) out of many different questions. but i tried to answer two.can you post the last separately. thankx