Problem 1. Differentiate between company philosophy and public image. In your opinion, should organizations address either or both of these in a mission statement? Why or why not.
Problem 2. Compare and contrast the three fundamental ethical approaches managers should consider, when adopting a philosophical approach to ethics. Offer your opinion as to why consistency is the most critical quality of ethical decision making.
Problem 3. Compare and contrast the factors that determine powerful suppliers and powerful buyers. As a manager, would you least prefer having to deal with the loss of profits brought on my powerful suppliers or powerful buyers? Explain your answer.
Problem 4. Differentiate between multi-domestic and global industry. Justify why strategic management planning should be global.
Problem 5. Describe the elements of SWOT analysis and its limitations. As a manager, would SWOT analysis be of any value to your firm, in conducting a strategic analysis? Why or why not?
Problem 6. Summarize both the benefits and risks of strategic management. Knowing that there are risks involved, justify a manager's decision to employ strategic planning.