A scan of the internal and external environment is an important part of the strategic planning process. Environmental factors internal to the firm usually can be classified as strengths (S) or weaknesses (W), and those external to the firm can be classified as opportunities (O) or threats (T). Environmental analysis identifies opportunities and threats.And Organisational … Read more

Goals After formulating the mission statement, the next step for the company is the establishment of major goals. The goals designate specific results the businesses want to achieve. In this context, the purpose of goals is to specify, as accurately as possible, as to what is to be done, if the company is to attain … Read more

Goals After formulating the mission statement, the next step for the company is the establishment of major goals. The goals designate specific results the businesses want to achieve. In this context, the purpose of goals is to specify, as accurately as possible, as to what is to be done, if the company is to attain … Read more

Characteristics of a Mission Statement   A mission statement defines the basic reason for the existence of that organisation. Such a statement reflects the corporate philosophy, identity, character, and image of an organisation. It may be defined explicitly or could be deduced from the management’s actions, decisions, or the chief executive’s press statements. When explicitly … Read more