Discuss the below:
Strategic Planning Process
In your own words, define strategic planning and explain why it is crucial to an organization's survival. In your response, include a description of how strategic planning differs from strategic management. Lastly, explain how your current or previous organization's strategy might influence its business model. Respond to at least two of your classmates' posts. You should create one initial post and at least two responses, for a minimum of three posts for this discussion.
Problems with Strategic Planning
After review the article "UPS holiday season fiasco: a failure of strategic planning," describe where the problem was with UPS' and FedEx's strategic planning. How did the fear of losing market share affect their strategic planning? What are potential solutions?
Assignment
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Evaluating Mission Statements
The mission statement describes the purpose of the organization (i.e., why the business exists). As outlined in the Mission Statements article, here are some things to consider when evaluating a mission statement:
• Is the mission statement focused on satisfying customer needs rather than on the product?
• Does the mission statement tell who the company's customers are?
• Does the mission statement explain what customer needs the company is trying to satisfy?
• Does the mission statement explain how the company will serve its customers?
• Does the mission statement fit the current market environment?
• Is the mission statement based on the company's core competencies?
• Is the mission statement motivating and does it inspire employee commitment?
• Is the mission statement realistic?
• Is the mission statement specific, short, sharply focused, and memorable?
• Is the mission statement clear and easily understood?
• Does the mission statement say how the company wants to be remembered?
Review the following mission statements. Evaluate each mission statement based on the above criteria and explain how the mission statements meet or failed to meet those criteria.
Home Depot's Mission Statement
The Home Depot is in the home improvement business and our goal is to provide the highest level of service, the broadest selection of products, and the most competitive prices. We are a values-driven company and our eight core values include the following:
• Excellent customer service
• Taking care of our people
• Giving back
• Doing the "right" thing
• Creating shareholder value
• Respect for all people
• Entrepreneurial spirit
• Building strong relationships
Nike's Mission Statement
Our mission is to bring inspiration and innovation to every athlete in the world.
In addition to the text, you should use at least one scholarly source. Your paper should be three to four pages in length (excluding a cover page and reference page) and be formatted according to APA style guidelines as outlined in the Ashford Writing Center.