What is strategic management, what is its purpose, and why is it necessary? What are the components of a strategic plan?

What is strategic management, what is its purpose, and why is it necessary?  What are the components of a strategic plan?  Which is most important?  Why?

Mission Statement and Your Organization

Locate the mission statement of the company you are using for your week 1 individual assignment. Where did you find it? Was it presented as a consolidated statement, or were you forced to assemble it yourself from various publications of the firm?  Begin thinking about the mission statement you will develop for your new division (week 2 assignment).  How will you ensure it is aligned?

Organizational Culture

Three key activities (setting a direction, designing the organization, and nurturing a culture and ethics) are part of effective leaders’ routinely activities.  Explain how these 3 activities are inter-related.

Values and Guiding Principles

What are values? How are they formed, developed, and possibly change over time? What values / guiding principles / behaviors will you expect from employees in your new division?  (Hint:  Feel free to use your response as part of your Week 2 individual assignment.)

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