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4) Explain the purpose of a company's "Mission Statement" and its role in formulating company strategies. 5) Why should a company care about the macroenvironment? 6) List the key elements of the micro-environment and identify which elements are considered the easiest to control? 7) Compare and contrast closed-end questions and open-end questions for gathering data, explaining the advantages and disadvantages of each and provide an example of both. 8) Discuss the key differences between observation and survey research approaches