BUS 523 Chapter 4 Reflection

Chap 4 Strategic Direction

Write a reflection about something you found interesting and post your reflection to the forum.

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Strategic direction is defined in terms of a firm’s vision of where it is heading, the business in which it is involved, and its purpose. To set and define strategic direction: 1) describe the most critical issues facing your organization; 2) write a statement, which describes your organization’s core competencies; 3) describe what you see as the longer-term vision of what your organization can become; 4) write your organization’s existing mission statement; 5) possible changes in mission statement for the future; 6) revised mission statement (the purpose of the organization). For practical purposes, a firm’s vision is often embedded in its mission statement. 7) Developing / updating vision statement (depiction of future state of organization and customers). 8) Developing/updating values statement (overall priorities in how organization operates).