Assignment:
Unit I
Question 1. Describe the strategic management process, and include how it is used by organizations.
Question 2. Do you feel an organization should maintain their original mission and vision statement(s), or do you feel these statements should be periodically updated? Please explain your answer.
Question 3. Are "strategic management" and "strategic planning" synonymous terms? Explain.
Question 4. Colleges and universities, like all business, have strengths, weaknesses, and competitors. What would you consider to be an online university's internal strengths and weaknesses? Why? Also, who would you say are the competitors to online universities? What are three external opportunities and three external threats?
Question 5 .Within this unit, we discussed how businesses may need to adapt to changing times in order to stay competitive. Their initial practices may have worked well previously, but may not serve them well in the long term. The newspaper industry is one that may face extinction. Explain why they may need to rethink their business strategy, and provide some advice on possible strategic management changes. Be specific to include goals/objects, strengths, and weaknesses.
Unit II Essay
Over the course of this unit, we have discussed the importance of mission and vision statements. As a part of that discussion, we analyzed mission and vision statements for their effectiveness. For the Unit II Essay, you will expand on this topic. Using your favorite search engine, research the mission and vision statements of different fortune 500 companies. Then,you will write an essay in which you compare and contrast the mission statements of two companies and the vision statements of two companies. You may use the same companies for both the mission and vision comparisons or separate companies. Within your essay, include the following:
• Explain the principle value of two vision statements.
• Explain the principlevalue of two mission statements.
• Compare and contrast vision statements of each organization in terms of composition and importance.
• Compare and contrast mission statements of each organization in terms of composition and importance.
• Doyou think organizations that have comprehensive mission statements tend to be high performers? How do mission and vision statements assist in selecting an industry-specific strategy?
• Explain why a mission statement should not include monetary amounts, numbers, percentages, ratios, goals, or objectives.
Your essay should be a minimum of three pages in length or approximately 750 words, not including the title and reference pages. You must also include an outside source from the CSU Online Library to support your explanations.
Follow APA standards for formatting and referencing.Information about accessing the Grading Rubric for this assignment is provided below.