Read "The Significance of Vision and Mission Development for Enterprises in Slovak Republic." (http://www.joebm.com/papers/90-A00009.pdf). Consider how these statements are formed by the strategic management process.

• Select three key ideas or facts from the article which you believe are most important for a firm competing in a global market. Why are they the most important to the process?
• What role does a strong leader play in the formulation vision and mission statements?
• Analyze whether internal (company culture, firm's resources, etc.) or external (government regulations, competition, etc.) are the most relevant to a global firm's vision and mission statements.