What are the elements of a good mission statement?
(1) Who are we?
(2) Who are our customers?
(3) What is our operating philosophy (basic beliefs, values, ethics, etc.)?
(4) What are our competitive advantages?
(5) What are the responsibilities with respect to being a good steward of our human, financial, and the environmental resources?
Learn More :
Management
- Simultaneous Production and Consumption meaning what?
- Intangibility meaning what?
- What is a product?
- What are the 4 P's of marketing?
- What is a market and what do we mean by exchange?
- What do we mean by the four different types of utility (time, place, possession, and psychological utility)?
- Know some of the major marketing strategy decisions.
- What do we mean that a product becomes a commodity?
- Know the different stages of the strategic planning process (situation analysis and marketing plan).
- What do we mean by organization mission and vision?
- What do we mean by the width of a mission statement?
- What is corporate strategy?
- What is business-unit strategy?
- What is a strategic business unit?
- What do we mean by competitive or differential advantage?
- What is a marketing plan?
- Parts of the marketing plan:
- Why is the executive summary very important?
- What is the purpose and significance of the Marketing plan?
- What is a situation analysis and what are some of the issues to be considered in a situation analysis? (Three key environments)
- What are the challenges in conducting a situation analysis?
- What do we mean by derived demand?
- What are the different competitors that a firm must face?
- What are some of the aspects of the external environment?