WK 1 - DQ 5 - Dictionary (2011), Values mean, Important and...

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MGT/498 – Strategic Management University of Phoenix Professor:  TUGTEKIN GOKAYDIN Katie Williams 12/04/2011 Week 1 - Assignments Discussion Question #5: From what I understand an organization’s vision and mission statements along with their values all relate to strategic management in some way, I say this because both the mission and vision statement show customers what the companies purpose is or what they purpose to do in terms of satisfying their customers and how they will reach their goals. Not only does the mission and vision statement of a company show the customers what the company purposes to do, and what they plan to do, but it also shows how they are different from other companies like them. It tells people what that particular company values, rather it is responsible employees how have good ethical qualities or that they sell a top quality product or service. According to the Business
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Unformatted text preview: Dictionary (2011), Values mean, Important and enduring beliefs or ideals shared by the members of a culture about what is good or desirable and what is not. Values exert major influence on the behavior of an individual and serve as broad guidelines in all situations. See also value . However, when speaking in terms of how the vision, mission statements, and the values of a company relate to strategic management. I would have to say they have one major thing in common they are all showing how the company will perform long term. As we all know strategic management not only involves how a company makes decisions but also how they intend to reach their goals. So all in all, all these things help a company succeed in the long run. References: If you would like to read more, please visit the following weblink: http://www.businessdictionary.com/definition/values.html...
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This note was uploaded on 04/03/2012 for the course BUSINESS M MGT 498 taught by Professor Tugtekingokaydin during the Spring '12 term at University of Phoenix.

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