How does a corporation determine what direction they will take in the marketplace? The first three...

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General Management

How does a corporation determine what direction they will takein the marketplace? The first three elements of setting thisdirection are Mission Vision and Value Statements. What do thesemean? How do they impact decision-making at a corporation?

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To determine the direction that corporate will take in the marketplace here are the factors which are involved in the process Envisioning the future of the organisation which involves the process of defining vision longterm goals for the team Once the vision is defined it is important to link it with current reality and market situation hence this process involves setting strategic goals for the organisation For shortterm plan execution the firm then defines various tactics to use the present strength and resources to See Answer

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