Written Assignment

Read "The Signi cance of Vision and Mission Development for Enterprises in Slovak Republic."

(http://www.joebm.com/papers/90-A00009.pdf). Consider how these statements are formed by the strategic management process.

Select three key ideas or facts from the article which you believe are most important for a rm competing in a global market. Why are they the most important to the process?

What role does a strong leader play in the formulation vision and mission statements?

Analyze whether internal (company culture, rm's resources, etc.) or external (government regulations, competition, etc.) are the most relevant to a global rm's vision and mission statements.

Submit a written paper which is at least four pages in length, exclusive of the reference page. The paper should cite at least two additional sources independent of the article.

Introduction

Vision, mission, and goal statements are very important elements in the strategic management process. They provide a framework for decision making and o er guidance during turbulent market conditions. Also, they o er benchmarks for the e ectiveness of strategies and tactics. The formulation of these statements can be facilitated by a strong leader. Their signi cance to modern enterprises is considered.

Reading Assignment

Ketchen, D & Short, J. (2012) Strategic Management: Evaluation and Execution. This book is licensed under a Creative Commons by-nc-sa 3.0 license.

Chapter 2

Papulova, Z. (2014). The signi cance of vision and mission development for enterprises in Slovak Republic. Journal of Economics, Business and Management, (2)1. Retrieved July 23, 2015 from:http://www.joebm.com/papers/90-A00009.pdf or downloadhere.

course textbook

Kennedy, R. (2020). Strategic management. Virginia Tech Publishing. This book islicensed under a Creative Commons by-nc-sa 3.0 Attribution-NonCommercial-ShareAlike CC BY-NC-SA license. Available online at https://vtechworks.lib.vt.edu/handle/10919/99282