1. Writing a mission statement requires focus and should inspire not only the employees within an organization but the customers, suppliers and community as a whole. What are the nine basic components of a mission statement? Why is it important to include as many of these components as possible in a company’s mission statement?
2. There are many analytical tools and techniques available for companies to gauge not only where they stand within the industry but to also assess their sustainability and competitive advantage within the marketplace. Why do you believe it is an important step within a strategic planning process to conduct a SWOT analysis? How can a VRIO help an organization?
3. Describe a situation when a TOWS matrix framework would be appropriate.