CHAPTER 2: The Business Vision and Mission
What Do We Want to Become?
A vision statement should answer, What do we want to become?
A clear vision provides the foundation for developing a comprehensive mission statement.
The vision statement should be esta
CHAPTER 10: Business Ethics, Social Responsibility, and Environmental Sustainability
Social Responsibility: Actions and organization takes beyond what is legally required to protect or enhance
the well-being of living things.
Sustainability: The extent th
CHAPTER 4: THE INTERNAL ASSESSMENT
The Nature of the Internal Audit
Objectives and strategies are established with the intention of capitalizing on internal strengths and
Key Internal Forces
Distinctive Competencies: A firms streng
CHAPTER 3: THE EXTERNAL ASSESSMENT
Sometimes called environmental scanning or industry analysis to gather and assimilate external
External Audit: Focuses on identifying and evaluating trends and events beyond the control of a single firm.