R&D policies can enhance strategy implementation efforts to emphasize product or
process improvements.
Freund argues that key external factors must not be hierarchical.
Six Sigma is generally equally successful in retail firms and manufacturing firms.
Whereas the mission statement answers the question, “What do we want to become?”
the vision statement answers the question, “What is our business?”
According to James Van Horne the basic decision areas of finance are: the investment
decision, the financing decision, and the dividend decision.
For a resource to be valuable, it must be either rare, hard to imitate, or not easily
sustainable.
In multidivisional organizations, each division should develop a mission statement
consistent with and supportive of the corporate mission.
Management by intuition can be defined as operating from the
“I’ve-already-made-up-my-mind-don’t-bother-me-with-the-facts mode.”
Bad ethics can derail all but the best strategic plans.
All firms have a strategy, even if it is informal, unstructured, and sporadic.
In most industries, only minor costs of producing a product or service are incurred
within operations, so production and operations does not have great value as a
competitive weapon in a company’s overall strategy.
A mission statement, sometimes called a creed statement, can be defined as an enduring
statement of purpose that distinguishes one organization from other similar enterprises.