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ESSAY: Defining strategic management

Review Porter’s Five-Forces model of industry competition (2.3.1 in text). Using your own words (do not copy definitions from the text), explain the model’s importance in the concept of strategic grouping within industries. Then, find a company with a “mission statement”. Do not use the military please. Pick a commercial company that is not routinely discussed. Select a company with a mission statement and tell us whether or not you think the statement is constructive and provides employees with motivation and strategic direction. When reading the mission statement does it reveal the nature of the business? Include the mission statement in your post in italics.

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