MGT 498 Week 1

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MGT 498 Week 1

Week 1

Individual Assignment: Strategic Management Process Paper

Write a 350 to 500 word paper in which you complete the following:

Describe the primary components of a strategic management process, and indicate why a strategic management process is needed for a company.

Research at least one company and describe the strategic management process that the company uses. (Please research a company other than your current or previous employers.)

Format your paper according to APA standards.

Reference the course text book as your primary source.

Learning Team Instructions

Introduce yourself to your Learning Team.

Create the Learning Team Charter.

Week 1 DQs

Why is strategic planning important to the organization? How does strategic planning help the organization? What kind of strategic planning tools are you familiar with? Have you used SWOT analysis in other classes? Do you know what the balanced scorecard is?

What is a mission statement? What is a vision statement? Review Cokes' mission statement:

To refresh the world...

To inspire moments of optimism and happiness...

To create value and make a difference

Does this statement give direction to the strategic planning process?

Why is an understanding in ethics important to the overall strategy process, and how does an understanding of ethics affect the strategy process as it pertains to the organizations stakeholders?

Provide an example of a company that used unethical behavior to gain profit. What was the unethical behavior and why was the behavior unethical? How did this unethical behavior affect the company?

How critical do you think having a mission statement is relative to the overall success of an organization? Explain.

How does a leader develop and articulate a compelling vision? Explain.

What is the relationship between strategy and tactics? Explain

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