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

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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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