Task: I want to answer the following questions using 100 to 150 words per question with atleast one reference per question.
Question 1. What is strategic management? What are the roles of mission and vision statements in strategic management? Can an organization have a successful strategic plan without effective mission and vision statements? Why or why not?
Question 2. What is the difference between mission and vision statements? What factors need to be considered to produce an appropriate mission statement and vision statement for an organization?
Question 3. What is strategic planning? What is the purpose of strategic planning? Why is it necessary? What are the components of a strategic plan? Which component is the most important? Why?