Discussion 1
For this discussion activity, you will research a company's of your choice and locate the company's most current mission statement. In order to evaluate the effectiveness of the chosen company's statement you will use the following criteria for evaluating a Mission Statement.
Criteria:
Use the following questions to evaluate the selected mission statement.
Question that the mission statement meets.
1. Is our mission statement focused on satisfying customer needs rather than being focused on the product?
2. Does our mission statement tell who our customers are?
3. Does our mission statement explain what customer needs our company is trying to satisfy?
4. Does our mission statement explain how our company will serve its customers?
5. Does our mission statement fit the current market environment?
6. Is our mission statement based on our core competencies? (A core competency is a company strength.)
7. Is our mission statement motivating and does it inspire employee commitment?
8. Is our mission statement realistic?
9. Is our mission statement specific, short, sharply focused and memorable.
10. Is our mission statement clear and easily understood?
11. Does our mission statement say what we want to be remembered for?
Once you have completed the evaluation of the missing statement, address the following questions:
- How many points would the mission statement earn? What is the significance of the score in relation to how well the company's is currently operating?
- Are all of the questions equally important? Should some be dropped and others added? Why?
Be sure to post the chosen company "Name", Mission Statement, Results of Evaluation, and Responses to the Closing questions.
Assignment:
The strategic audit system is a diagnostic tool to pinpoint an organization's strengths and weaknesses. Use the Strategic Analysis Framework and other tools in order to conduct a strategic audit. You might consider using a SWOT analysis for both companies to analyze each companies situation.
For this assignment, a mini strategic audit will be conducted for two companies with an overall goal to compare how each company differs in the strategy management and implementation, while indentifying the importance of strategic management.
Assignment Requirements
Conduct a mini Strategic Audit on e-company Tigerdirect.com and Best Buy, Visit the each company's website at Tiger Direct at http://www.tigerdirect.com/ and Best Buy at www.bestbuy.com. After conducting research, identify key strategies that each company has in common. List a brief introduction of each company, to include the Mission Statement and compare key aspects of each company. Identify the importance of strategic management based on your research. Be sure to include the concepts identified in the readings for this week's topics.
Submit your answers in a 1000 word, APA style paper. Include a title sheet and 2-3 references.