Please help me finish it on time and make sure no plagiarism. The discussion doesn’t need to be to long, just one paragraph is fine, thank you so much!Chapter 3. This week you should either read the chapter, if you have the book, or look at the Power point slides and Google whatever terms you do not know.This chapter is very important to understanding the ‘big picture’ of strategicmanagementThis chapter includes a discussion of mission and vision statements? Do you know the difference? The two are very different. If you have a job do you know your employers mission or vision statements? Do you know the mission and vision statements for the hotel college. Mission and vision statement set up guidelines for what the culture and strategy of an organization is going to be. Without them, you could not have a strategic plan. Mission statements also convey all kinds of message to employees. The direction a mission statement provides helps managers choose which decisions best fit the organizations. They organize the company. Without a mission statement organizations would not perform very wellAnd if you have one, you better follow it!Mission statements set objectives of all kinds. Consider the mission statement of Patagonia (the outdoor clothing company)Patagonia’s mission statement combines both the values that bring them market success (building safe, high-quality products) and the values that contribute to a better world (philanthropic efforts to help the environment). For the people behind the brand (Links to an external site.)Links to an external site., ‘a love of wild and beautiful places demands participation in the fight to save them.’ In the name of this cause, the company donates time, services, and at least 1% of its sales to hundreds of grassroots environmental groups around the world.Each mission statement tells managers, employee, customers and other stakeholders who they are. (Vision statements tell everyone who they want to become). Mission statement from Warby Parker, an online glasses/frames company. Warby Parker: To offer designer eyewear at a revolutionary price, while leading the way for socially conscious businesses.Consider going to war or into battle without a plan…how likely is it that you will be successful. Many people compare strategic management and planning for war to be very similar processes and for similar purposes.In this chapter you learn the key questions that managers should ask to create a strategic plan. We are entering an election cycle in the US. In 2020 we will elect a President, House of Representatives and lots of US Senators, plus people at lower levels. If you were running for office would you have a strategic plan? Don’t each of those people running describe a plan to you (in brief) when they announce to run. When Alice from Alice in Wonderland came to a “Y” in the road she saw a ‘hooka- smoking caterpillar’. She asked that caterpillar which fork in the road she should go, ie, which road to take and the caterpillar said to her “that depends and where you want to go”…and you can’t even answer that without a plan. You should each have plans for yourself (You.Inc) and develop a plan. I know not all college students do this, in fact the ones from Liberal Arts, Languages, Math etc…and lots of other degrees never consider developing a plan. But they are not business people. You are.You will also learn the components of social responsibility and five different ethical frames of reference. Consider which one you would follow.Major topics include: Strategic managers provide long-term direction for their organizations, while at the same time balancing the competing interests of stakeholdersMission statements communicate ideals and a sense of direction and purpose to internal and external stakeholdersA mission is what a company is and its reasons for existing, while a vision is a forward-looking view of what the organizationwants to becomeBusinesses are defined in terms of customers, needs satisfied, capabilities and technologies, and products and services Organizational values guide organizational decisions and help determine the firm’s attitude towards social responsibility and thetreatment of various stakeholder groups (enterprise strategy).A code of ethics can communicate the values of the organization to employees and other stakeholdersGlobalization makes dealing with values and ethics even more difficult YOUR ASSIGNMENT: Pick one of the above topics and tell us something you know about it from your work, your family, your country or any other perspective. It doesn’t have to be long.
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