BUS475 Tutorial - 7104

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  • Posted on: Mon 09 Apr, 2012
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1.    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? 200-words


 

2.    Select a small business that you may want to start. What is strategic management and planning? Why would a strategic plan be important to the success of this business? How are the four functions of management relative to creating and implementing a strategic plan? 200-word

 


 

Solution Description

1.    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? 200-word

A mission statements tells the main purpose of a company. It tells people why it exists. It communicates its purpose to both, people within the organization and outside the organization. For example, a part of the mission statement of Canadian Tire reads as follows “Canadian Tire is a growing network of interrelated businesses... Canad