Validating the Organizational Vision, Mission, and Values Statements a.
In business there must be continuous validation of the organizations vision, mission, and value statements. Annual reviews should be done to make sure the organizations current strategic plan is being followed and still going in the correct direction. A mission statement is meant to offer a general explanation of the essential reason behind the company and the practical role the company plays in the competitive environment (Mintzberg, Ghoshal, Lampel, and Quinn, 2003). III.
External Environmental Analysis
The goal for conducting an external analysis is to classify the opportunities as well as the serious threats to the company’s specific competitive environment. An environmental threat to a firm seeking competitive advantage would any organization, individual, or group outside the company seeking the reduction level of that company’s performance. Threats may surge a company’s expenses, and reduce the willingness of a company’s consumers to pay, or in other ways decrease a company’s performance (Pearce & Robinson, 2011). b.
A substantial amount of collected works on techniques for and methods to guiding an external analysis has developed over the last few years. These methods will help in the examination on how competition in the environment will evolve as well and the implications that evolution may have on present and future opportunities and threats the company could face. To achieve this, gathering competitive intelligence about the most important external factors, to include cultural, demographic, political, social, economic, technological, governmental, regulatory, and legal. c.
The external environmental analysis will include a review of industry and competitors’ statistics, websites, and printed literature, consisting of: i.
Financial statements and documentation
Visions, mission, and values statements
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