Group Assurance of Learning Exercise 1

Group Assurance of Learning Exercise 1

1. Answer questions 1-28, 1-29, 1-32, 1-34, and 1-41 on textbook page 22. (Note: Treat a question that asks your opinion like any other question; cite and reference per current APA. Hence, support your work as your opinion can be wrong.)

1-28 Explain why the strategic management class is often called a capstone course”.

1-29 What aspect of strategy formulation do you think requires the most time? Why?

1-32 Explain the importance of a vision and a mission statement.

1-34 Why do you think some chief executive officers fail to use a strategic-management approach to decision making?

1-41 In your opinion, what is the single major benefit of using a strategic-management approach to decision making? Justify your answer.

2. Answer questions 2-14, 2-21, 2-22, 2-27, and 2-28 on textbook page 53. (Note: Treat a question that asks your opinion like any other question; cite and reference per current APA. Hence, support your work as your opinion can be wrong.)

2-14 Compare and contrast vision statements with mission statements in terms of composition and importance.Williams

2-21 In your opinion, what are the three most important components that should be included when writing a mission statement? Why?Williams

2-22 How would the mission statements of a for-profit and a nonprofit organization differ?Williams

2-27 List eight benefits of having a clear mission statement.Williams

2-28How often do you think a firm’s vision and mission statements should be changed?

3. Complete Assurance of Learning Exercise 2B, Steps 12, for Advance Auto Parts, Barnes & Noble, Estée Lauder, Family Dollar Stores, FedEx, and Ford Motor Company on textbook page 54.

Step 1 On a clean sheet of paper, prepare a 9×6 matrix. Place the nine mission statement components down the left column and the following six companies across the top of your paper.

Step 2 Write Yes or No in each cell of your matrix to indicate whether you feel the particular mission statement includes the respective component.

4. Have your group leader place the results of the exercise(s) in a single document and post it to the Group Assurance of Learning Exercise 1 forum of your Group Discussion Board Forum. Include your names, class, section number, group number, and the number of the exercise(s) on the attachment (e.g.: 1B, Step 3). Be sure that the assignment is in a business-professional format; include current APA citing and referencing.

Submit this assignment by 11:59 p.m. (ET) on Monday.