Functional strategy implementation involves five aspects: process, activities, budgets, structure, and culture. , explain these aspects briefly
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Functional strategy implementation involves five aspects: process, activities, budgets, structure, and culture. , explain these aspects briefly
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- Justify the concept that the mission statement is the first step in the strategic management process. How does it relate to the other parts of the strategic management process and to a firm’s business and corporate strategy?⦁ Develop an implementation plan for the strategy you have developed and document how your plan will fulfill major stakeholder expectations.Define the term mission statement?
- Define the Strategy Formulation?Business Strategy & Policy Scenario: John is operating a business in the Caribbean in the manufacturing sector. Over the years the business has grown and become profitable and as a result the structure of the organization must reflect the changing business needs. He started off with just an accountant and general administrative department. Due to the growth of the organization, there is now a need for a marketing and sales department, IT department, production department, risk department, operations department,humanresource department, finance department, research anddevelopment department and health and safety department. John is considering implementing a functional structure. This way specialist departments are able to focus on their tasks and meet their objectives. John is also concerned about his value chain and would like further insight on this grey area in his business function. Since the business is doing well locally, John is considering expanding to parts of the United…Business Strategy & Policy Scenario: John is operating a business in the Caribbean in the manufacturing sector. Over the years the business has grown and become profitable and as a result the structure of the organization must reflect the changing business needs. He started off with just an accountant and general administrative department. Due to the growth of the organization, there is now a need for a marketing and sales department, IT department, production department, risk department, operations department,humanresource department, finance department, research anddevelopment department and health and safety department. John is considering implementing a functional structure. This way specialist departments are able to focus on their tasks and meet their objectives. John is also concerned about his value chain and would like further insight on this grey area in his business function. Since the business is doing well locally, John is considering expanding to parts of the United…