feature of strategic_management

May 29th, 2015
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A. T. Still University
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Vision serves the purpose of stating what an organization wishes to achieve in the long run. It is at the top in the hierarchy of strategic intent. It is what the firm would ultimately like to become. Mission relates an organization to society. The mission statements stage the role that organization plays in society. It is one of the popular philosophical issues which are being looked into business managers since last two decades.

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AEREN FOUNDATION REG. NO. F/11724INDIAN SCHOOL OF BUSINESS MANAGEMENT & ADMINISTRATION MARKS: 80 COURSE: MBA 3rd semSUB: STRATEGIC MANAGEMENT N. B.: 1)Answer any Eight 1.Define strategic intent, vision and mission. Write major components of a mission statement. How do you define corporate objectives? Distinguish between purpose, mission, long-term objectives and goals. Solution:"Strategic" is mainly used with long term and "Intent" is basically related to "intentions" that is "a plan to do something" is an intention. Mean that "a plan to do something in the long term. STRATEGIC INTENT" is - what an organization plans to strive for in future (long term), and it can be expressed in vague / broad terms as well as in specific terms. So, vision & mission of an organization expresses the strategic intent of the organization in broad terms and business definition, goals, objectives expresses the strategic intent of the organization in relatively specific terms.The company has to define its Vision Statement, Mission Statement, Business Definition, and Objectives to form the Strategic Hierarchy. A business strategy cannot be formulated unless the strategic hierarchy is clearly defined.Vision serves the purpose of stating what an organization wishes to achieve in the long run. It is at the top in the hierarchy of strategic intent. It is what the firm would ultimately like to become.Mission relates an organization to society.

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