What is strategic management

Question

Assignment:

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?
2. What is the difference between mission and vision statements? What factors must be considered to produce an appropriate mission and vision statement for an organization?
3. What is the difference between incremental and breakthrough innovation? What risks are associated with each approach?
4. In today's global business world strategy has become critical to success. Can anyone provide examples of strategies companies have used to find competitive advantage or failed strategies that have led to a companies demise?
5. A well designed vision and mission are important to the strategic process. Can anyone provide an example of their companies vision and mission? What are your thoughts on these statements? What do they include that makes them strong statements or what should they include to make them stronger?