1. Most companies have stated values, a mission and a vision statement along with objectives. Does a company need all three? Explain why or why not.
2. Is it possible to achieve competitive advantage without the implementation of strategic management? If yes, describe how and explain your rationale. If no, then explain why and provide at least one example.
3. According to James Van Horne, what are the three decisions that comprise the functions of finance? Describe each function, and identify the role of each function in strategic management.
4. King and Cleland recommend that organizations carefully develop a written mission statement for six reasons. List and describe five of these reasons.