Question

Please answer the following question:

What is the Strategic Management Process Model conveying? State and interpret a company’s mission statement. Why is mission important? (This may be the mission statement of Dell, Nike, United Airlines, or another firm.)

Answer 1

Strategic Management Process is basically an approach to the business in which Upper Management has to think strategically and then implement that in a process. It is very important for all the members to understand the strategy for a better implementation. It has been broken down into five stages:

1. Goal Setting

2. Gathering and Analyzing Information

3. Formulate a Strategy

4. Implementation of Strategy

5. Evaluation and Control

Thus, Strategy Management Process is a set of rules to be followed to think and work strategically in the business.

MISSION STATEMENT OF APPLE

"Apple is committed to bringing the best personal computing experience to students, educators, creative professionals and consumers around the world through its innovative hardware, software and Internet offerings."

INTERPRETATION: They are focused on making the best technology computer devices with the help of R&D so that they could give the best customer experience to everyone in the society (their target audience).

Why is Mission important?

It is basically a Statement of Purpose for the company which directs the decision making in the organization in every step. It sets the boundaries for the owners to delegate both the responsibility and authority. It focuses on company's future and its ultimate goal is to accomplish the vision. It forms the basis for alignment, it means that when a new employee is hired then by reading the mission statement itself he could understand where the organization is going.