Question Description
I’m studying for my Business class and don’t understand how to answer this. Can you help me study?
1. Do you feel an organization should maintain their original mission and vision statement(s), or do you feel these statements should be periodically updated? Please explain your answer. Your response must be at least 75 words in length.
2. Are "strategic management" and "strategic planning" synonymous terms? Explain. Your response must be at least 75 words in length.
3. Describe the strategic management process, and include how it is used by organizations Your response must be at least 75 words in length.
4. Colleges and universities, like all business, have strengths, weaknesses, and competitors. What would you consider to be an online university's internal strengths and weaknesses? Why? Also, who would you say are the competitors to online universities? What are three external opportunities and three external threats. Your response must be at least 200 words in length.
5. Within this unit, we discussed how businesses may need to adapt to changing times in order to stay competitive. Their initial practices may have worked well previously, but may not serve them well in the long term. The newspaper industry is one that may face extinction. Explain why they may need to rethink their business strategy, and provide some advice on possible strategic management changes. Be specific to include goals/objects, strengths, and weaknesses. Your response must be at least 200 words in length.
Explanation & Answer
Please view explanation and answer below.
Business Policy and Strategy outline
1. Do you feel an organization should maintain their original mission and vision statement(s),
or do you feel these statements should be periodically updated? Please explain your answer.
Your response must be at least 75 words in length.
2. Are "strategic management" and "strategic planning" synonymous terms? Explain. Your
response must be at least 75 words in length.
3. Describe the strategic management process and include how it is used by organizations
Your response must be at least 75 words in length.
4. Colleges and universities, like all business, have strengths, weaknesses, and competitors.
What would you consider to be an online university's internal strengths and weaknesses?
Why? Also, who would you say are the competitors to online universities? What are three
external opportunities and three external threats. Your response must be at least 200 words in
length.
5. Within this unit, we discussed how businesses may need to adapt to changing times in
order to stay competitive. Their initial practices may have worked well previously, but may
not serve them well in the long term. The newspaper industry is one that may face extinction.
Explain why they may need to rethink their business strategy, and provide some advice on
possible strategic management changes. Be specific to include goals/objects, strengths, and
weaknesses. Your response must be at least 200 words in length.
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Business Policy and Strategy
Student’s Name
Institution Affiliation
Date
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1.
To necessitate the success of any organization, it is essential to determine a direction for it
and establish certain goals. An organization’s mission statement provides the general reason
for the establishment of th...