1. Think about the courses you have taken in functional areas such as marketing, finance, production, human resources, and accounting. What is the importance of each of these areas to the strategic planning process?
2. Many successful individuals have single-handedly directed their companies to success. Is participative strategic management approach likely to stifle or suppress the contributions of such individuals?
3. How can a mission statement be an enduring statement of values and simultaneously provide a basis of competitive advantage?
4. What is the agency theory? How do agency problems occur? How can a board of directors solve agency problems?