- 20 Marks
SCS – L3 – Q4 Strategy, stakeholders and mission
Outline five common elements included in most mission statements.
Question
(a) A mission statement describes an organization’s basic purpose and what it is trying to achieve. It can play an important role in the strategic planning process. There is no standardized format for mission statements. However, there are common elements included in most mission statements. Outline any FIVE (5) of these elements.
(b) Strategy evaluation is as important as strategy formulation. One of the tools used for evaluation is a resource audit. Explain FIVE (5) resources that might be examined in a resource audit.
(c) Reporting on corporate governance is one way of ensuring transparency. Based on recent corporate governance concerns, explain FIVE (5) issues that should be contained in corporate governance reports.
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