AU Mission Statement to Provide Direction and Purpose Discussion
Question Description
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I’m studying for my Business class and don’t understand how to answer this. Can you help me study?
Take a position on Mission Statements:
Select a mission statement of your choice. Discuss whether it meets the criteria of effective mission statements as discussed in Chapter two. Discuss if the mission statement is effective. Discuss how you might change it if it is not. Mission Statements are critical to a successful marketing organization versus Mission Statements rarely provide useful marketing value. Support your arguments. Provide examples.
CHAPTER SUMMARY & STUDY GUIDE
1. The value delivery process includes choosing (or identifying), providing (or delivering), and communicating superior value. The value chain is a tool for identifying key activities that create value and costs in a specific business.
2. Strong companies develop superior capabilities in managing core business processes such as new-product realization, inventory management, and customer acquisition and retention. In today’s marketing environment, managing these core processes effectively means creating a marketing network in which the company works closely with all parties in the production and distribution chain, from suppliers of raw materials to retail distributors. Companies no longer compete—marketing networks do.
3. Market-oriented strategic planning is the managerial process of developing and maintaining a viable fit between the organization’s objectives, skills, and resources and its changing market opportunities. The aim of strategic planning is to shape the company’s businesses and products so they yield target profits and growth. Strategic planning takes place at four levels: corporate, division, business unit, and product.
4. The corporate strategy establishes the framework within which the divisions and business units prepare their strategic plans. Setting a corporate strategy means defining the corporate mission, establishing strategic business units (SBUs), assigning resources to each, and assessing growth opportunities.
5. Marketers should define a business or business unit as a customer-satisfying process. Taking this view can reveal additional growth opportunities.
6. Strategic planning for individual businesses includes defining the business mission, analyzing external opportunities and threats, analyzing internal strengths and weaknesses, formulating goals, formulating strategy, formulating supporting programs, implementing the programs, and gathering feedback and exercising control.
7.Each product level within a business unit must develop a marketing plan for achieving its goals. The marketing plan is one of the most important outputs of the marketing process.
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