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Mohamed Salem.docx bus 65 ch 2

Mohamed Salem.docx bus 65 ch 2 - Mohamed Salem Assignment 2...

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Mohamed Salem Assignment 2 Ch.2 Class BUS 56 Marketing 1) a) Mission statement: is a formal statement in an organization’s strategic plan that describes the overall purpose of the organization, and what it intends to achieve in term of its customers’ products, and resources. Mission stamen make the top management’s first step in the strategic planning stage is answer the questions such as, What business are we in? What customers should we serve? How should we develop the firm’s capabilities and focus its effort. b) The outcome of an analysis of a firm’s internal and external environments, that managers often synthesize their finding form situation analysis into a format which is called SWOT analysis. This document a summary of the ideas developed in the situation analysis, allows managers to focus on the meaningful strength(S), and weakness (W) in the firm (the internal environment) and opportunities (O), and threats (T) coming from outside the firm(the external environments). A SWOT analysis enables a firm to develop strategies that make use for growth, while at the same time avoiding external threats that might hurt the firm’s sales.
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