1. Compare and contrast vision statements with mission statements. Describe why a mission statement is so important in the strategic-management process.

1. Describe the purpose and importance of an Internal Factor Evaluation (IFE) Matrix. Then, discuss the five steps involved in performing an IFE.

1. Discuss the differences between strategy formulation and strategy implementation.

1. Define the three types of integration strategies. Give examples and guidelines for when each is strategically appropriate.

1. Define the three intensive strategies. Give examples and guidelines for when each is strategically appropriate.