Walmart and Amazon Business Policy & Strategy Business Questions

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Walmart and Amazon Business Policy & Strategy Business Questions

Description

***Must have access to Strategic Management, 16th edition***

Please use the book listed above ^^^ and attached study guide to write an essay that meets the following criteria.

- MUST answer all questions

- MUST cite Strategic Management, 16th edition

- MUST cite online CSU source (attached as "Source 1")

-MUST cite sources for the two fortune 500 companies of your choosing

Instructions

Over the course of this unit, we have discussed the importance of mission and vision statements. As a part of that discussion, we analyzed mission and vision statements for their effectiveness. For the Unit II Essay, you will expand on this topic.

Using your favorite search engine, research the mission and vision statements of different fortune 500 companies. Then, you will write an essay in which you compare and contrast the mission statements of two companies and the vision statements of two companies. You may use the same companies for both the mission and vision comparisons or separate companies.

Within your essay, include the information below.

  • Explain the principle value of two vision statements.
  • Explain the principle value of two mission statements.
  • Compare and contrast vision statements of each organization in terms of composition and importance.
  • Compare and contrast mission statements of each organization in terms of composition and importance.
  • Do you think organizations that have comprehensive mission statements tend to be high performers? How do mission and vision statements assist in selecting an industry-specific strategy?
  • Explain why a mission statement should not include monetary amounts, numbers, percentages, ratios, goals, or objectives.

Your essay should be a minimum of three pages in length or approximately 750 words, not including the title and reference pages. You must also include an outside source from the CSU Online Library to support your explanations. Follow APA standards for formatting and referencing.

Here is the source citation for the CSU online library source (attached as "source 1"):

ValueWalk: A quick guide on how to start A profitable business (2021). . Chatham: Newstex. Retrieved from https://search-proquest-com.libraryresources.colum...

David, F. R., & David, F. R. (2017). Strategic management: A competitive advantage approach, concepts and cases (16th ed.) 

UNIT II STUDY GUIDE Mission and Vision Course Learning Outcomes for Unit II Upon completion of this unit, students should be able to: 2. Correlate the characteristics of vision and mission to business success. 6. Identify the process of selecting an industry appropriate strategy. Reading Assignment Chapter 2: The Business Vision and Mission Unit Lesson In Chapter 2 of the textbook, we will have the opportunity to explore the resources needed for a corporation or organization during the creation of the vision and mission statements. The mission and vision statements can vary based on the size, objectives, and overall characteristics of an organization. For example, the vision statement for a local hamburger diner would be vastly different than a corporate-based organization, such as McDonalds.

An organization’s mission and vision statements can evolve and change as the corporation matures and grows. A corporation must remain agile and have the ability to be relevant to its stakeholders and customers. Vision Statements According to the textbook, a vision statement describes what an organization wants to be and whom it wants to serve (David & David, 2017). The vision statement is foundational and must be created before the mission and goals are developed as this defines the business. The vision statement clarifies the reason for the company’s existence and how it compares to others (David & David, 2017). Vision statements are generally short, concise, and typically one sentence in length. There are many ways a company can go about developing a vision statement. Some companies may choose to hire an outside consultant while others may ask for feedback managers and/or employees. All vision statements are not necessarily effective. Vision statements should introduce the type of organization the company wishes to become at the very least.

An ideal vision statement is focused on the future while a poorly developed vision statement would be focused on existing goals or opportunities. At the bottom of page 41 of your textbook in Table 2.1: Vision Mission Examples, you will notice a series of different vision statements. Take a moment to review these, and reflect on which vision statement you like the most and which vision statement you like the least. Think about how these may apply to you as a consumer. Are these consumer driven statements, or are they more business centric? One statement that may have caught your attention is the one by General Motors that reads, “General Motors’ vision is to be the world leader in transportation products and related services” (David & David, 2017, p. 41). You may like this statement because it clearly indicates General Motors’ products and objectives. Mission Statements A mission statement is defined as a declaration of being or an attempt to define the business.

A mission statement also includes many objectives to include priorities, plans, and strategies. All organizations have the ability to develop and update their mission statement. The military uses a mission statement in every BBA 4951, Business Policy and Strategy 1 contingency operation that is developed. Their version of the mission statement includes who,GUIDE what, when, UNIT x STUDY where, why, and how they plan to complete the mission. Title Missions should define the following nine components: “customers, products or services, markets, technology, concern for survival/growth/profits, philosophy, self-concept, concern for public image, concern for employees“(David & David, 2017, p. 48). In addition to these components, mission statements should be inspiring and generate positive feelings about the company. Table 2-5: Example Mission Statements (located on page 49) in the textbook lists a variety of different mission statements. Again, take a moment to review these, and reflect on which statement you like the most and which statement you like the least; this critical internal appraisal will assist you as you begin to develop your assignment for this week.

Something you may have noticed is that within the author’s comments, each of these missions was missing at least one component. How would you suggest they revise the statements? Solid Foundation Before an organization can truly begin strategizing and planning for expansion and growth, it must first ensure its mission and vision statements are clear and solid. Every employee must be able to understand the expectations of the mission and vision statement and how to properly leverage these statements to promote the organization’s growth. Chapter 2 is a short chapter related to content, but it is a foundational chapter related to overall strategy. Remember that every organization has a purpose and role, and each company’s uniqueness is something to celebrate through the mission and vision statements. Without these statements, organizations will be unable to develop strategies for success. The mission and vision bring unity to the organization as well as provide its employees, customers, and surrounding community with its philosophy.

Reference David, F. R., & David, F. R. (2017). Strategic management: A competitive advantage approach, concepts and cases (16th ed.) [VitalSource Bookshelf version]. Retrieved from https://online.vitalsource.com/#/books/9780134167947 Suggested Reading The chapter presentation below will provide you with additional information on this unit’s concepts. Click here to access the PowerPoint version of the Chapter 2 Presentation. Click here to access the PDF version of the Chapter 2 Presentation. BBA 4951, Business Policy and Strategy 2 ValueWalk: A Quick Guide On How To Start A Profitable Business Publication info: Weblog post. Newstex Global Business Blogs , Chatham: Newstex. Apr 13, 2021. ProQuest document link FULL TEXT Are you thinking about starting a small business? The thought of investing a significant amount of money into a potential business venture can be daunting. Here are some of the best tips on how to start a profitable business that will give your new enterprise the best chance at success.

1. Provide a solution to an existing problem It’s easier to establish a loyal customer base when you focus on solving an existing problem. Instead of thinking about what to sell, think about how you can help make their lives easier. Your business should fill the gap in the industry of your choosing. It’s also important to be passionate about solving the said problem so you won’t quickly grow tired of running your business. For instance, if you’re passionate about software and notice that many people struggle with finding the best restaurants in their area, you could create an easy-to-use app that connects customers to restaurants. Deprival Super-Reaction Syndrome And Value Investing Deprival Super-Reaction Syndrome And Investing. Part four of a short series on Charlie Munger’s Human Misjudgment Revisited.

Charlie Munger On Avoiding Anchoring Bias Charlie Munger On The Power Of Prices The Munger Series - Learning . . . SORRY! This content is exclusively for paying members. SIGN UP HERE If you are subscribed and having an Read More Zero in on why you want to open your own business. Evaluate your motives so you can create a brand that resonates well with your audience. More importantly, know the problems your potential customers face and figure out how to solve them. 2. Create a simple business plan Once you have a business idea you want to try, the next thing you need to do is to create a simple business plan. This can seem overwhelming, especially to those who are new in the business. But your business plan doesn’t have to be overly complex in the first stages of planning. Even though we’re only creating a simple business plan, you still need to do your research.

Here are some of the things you can include in your business plan: Define the problem. Highlight the solution. PDF GENERATED BY PROQUEST.COM Page 1 of 4 Outline your business model. Write down your products or services, prices, and costs. Describe your target market. Define your competitive advantage. Outline your financial summary. Indicate funding required. A business plan also gives direction as to where your business is headed. Once you have this in place, it’ll be easier for you to update and augment your processes and plans as your business grows. You can eventually add actual costs, more accurate estimates and projections, mission and vision statements, and more. 3. Define your target audience It’s entirely possible to craft the best business idea and set it up in the wrong market. For this reason, it’s incredibly important to clearly define your target audience, as well as the existing market. This gives you an idea of how your business will perform within the market.

You can visit competing stores, looking at their websites and marketing materials, and see which works and which ones don’t. Defining your target market builds a solid foundation for your business so you can market your business accordingly. Here are some of the tips on how to identify your typical customer: Start by making broad assumptions about your ideal customer and then gradually narrow down your focus. Analyze your competitors. Check if your assumptions are accurate by talking to actual people or sending out surveys. Create buyer personas based on the data you gathered. 4. Ask for help Just because you’re starting a business from the ground up doesn’t mean you have to do everything yourself. Ask help from a lawyer if you need to write a contract or hire an accountant if you need someone to handle your finances. You’ll only waste more time and money, in the long run, trying to juggle multiple hats at once, especially on tasks you’re not qualified to do. If you don’t have the funds to hire someone full-time, invest in freelancers and independent contractors.

5. Get your finances in order Before you can start earning money from your startup, you’ll need to spend money. You can save and fund your PDF GENERATED BY PROQUEST.COM Page 2 of 4 business out of pocket, but not everyone has the luxury to do so. Instead, you can approach potential investors, banks, or lending companies. But if you’re self-employed with no proof of income, it can be challenging to secure financing. You can check out online lending companies that provide funding to self-employed professionals. 6. Don’t quit your day job just yet Lastly, it can be tempting to quit your day job and focus on growing your business. But launching a successful and profitable startup is a process, and it could take a while before you earn a steady income. Build your business in its early stages before you quit your day job and become a full-fledged entrepreneur. As of now, keep your day job and work on your business during your free time. Now that you know the basics of starting a small business, the next step is to put your plan to action. Take it one step at a time, and don’t be discouraged if things don’t go your way. Persevere and continue doing what you’re doing, and you’re well on your way to becoming a successful entrepreneur.

The views expressed in any and all content distributed by Newstex and its re-distributors (collectively, the "Newstex Authoritative Content") are solely those of the respective author(s) and not necessarily the views of Newstex or its re-distributors. Stories from such authors are provided "AS IS," with no warranties, and confer no rights. The material and information provided in Newstex Authoritative Content are for general information only and should not, in any respect, be relied on as professional advice. Newstex Authoritative Content is not "read and approved" before it is posted. Accordingly, neither Newstex nor its re-distributors make any claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained therein or linked to from such content, nor do they take responsibility for any aspect of such content. The Newstex Authoritative Content shall be construed as author-based content and commentary. Accordingly, no warranties or other guarantees are offered as to the quality of the opinions, commentary or anything else appearing in such Newstex Authoritative Content. Newstex and its re-distributors expressly reserve the right to delete stories at its and their sole discretion.

DETAILS Subject: Small business; Self employment; Audiences; Target markets; Business plans; Startups Business indexing term: Subject: Small business Self employment Target markets Business plans Startups People: Munger, Charles T Publication title: Newstex Global Business Blo gs; Chatham Publication year: 2021 Publication date: Apr 13, 2021 Dateline: Apr 13, 2021 Publisher: Newstex PDF GENERATED BY PROQUEST.COM Page 3 of 4 Place of publication: Chatham Country of publication: United States, Chatham Publication subject: Business And Economics Source type: Blogs, Podcasts, &Websites Language of publication: English Document type: Blogs ProQuest document ID: 2511754991 Document URL: https://search.proquest.com/blogs-podcasts-websites/valuewalk-quick-guide-onhow-start-profitable/docview/2511754991/se-2?accountid=33337 Copyright: Copyright Newstex Apr 13, 2021 Last updated: 2021-04-13 Database: ABI/INFORM Collection Database copyright  2021 ProQuest LLC. All rights reserved. Terms and Conditions Contact ProQuest PDF GENERATED BY PROQUEST.COM Page 4 of 4

UNIT II STUDY GUIDE Mission and Vision Course Learning Outcomes for Unit II Upon completion of this unit, students should be able to: 2. Correlate the characteristics of vision and mission to business success. 6. Identify the process of selecting an industry appropriate strategy. Reading Assignment Chapter 2: The Business Vision and Mission Unit Lesson In Chapter 2 of the textbook, we will have the opportunity to explore the resources needed for a corporation or organization during the creation of the vision and mission statements. The mission and vision statements can vary based on the size, objectives, and overall characteristics of an organization. For example, the vision statement for a local hamburger diner would be vastly different than a corporate-based organization, such as McDonalds. An organization’s mission and vision statements can evolve and change as the corporation matures and grows. A corporation must remain agile and have the ability to be relevant to its stakeholders and customers. Vision Statements According to the textbook, a vision statement describes what an organization wants to be and whom it wants to serve (David & David, 2017). The vision statement is foundational and must be created before the mission and goals are developed as this defines the business. The vision statement clarifies the reason for the company’s existence and how it compares to others (David & David, 2017). Vision statements are generally short, concise, and typically one sentence in length. There are many ways a company can go about developing a vision statement. Some companies may choose to hire an outside consultant while others may ask for feedback managers and/or employees. All vision statements are not necessarily effective. Vision statements should introduce the type of organization the company wishes to become at the very least. An ideal vision statement is focused on the future while a poorly developed vision statement would be focused on existing goals or opportunities. At the bottom of page 41 of your textbook in Table 2.1: Vision Mission Examples, you will notice a series of different vision statements. Take a moment to review these, and reflect on which vision statement you like the most and which vision statement you like the least. Think about how these may apply to you as a consumer. Are these consumer driven statements, or are they more business centric? One statement that may have caught your attention is the one by General Motors that reads, “General Motors’ vision is to be the world leader in transportation products and related services” (David & David, 2017, p. 41). You may like this statement because it clearly indicates General Motors’ products and objectives. Mission Statements A mission statement is defined as a declaration of being or an attempt to define the business. A mission statement also includes many objectives to include priorities, plans, and strategies. All organizations have the ability to develop and update their mission statement. The military uses a mission statement in every BBA 4951, Business Policy and Strategy 1 contingency operation that is developed. Their version of the mission statement includes who,GUIDE what, when, UNIT x STUDY where, why, and how they plan to complete the mission. Title Missions should define the following nine components: “customers, products or services, markets, technology, concern for survival/growth/profits, philosophy, self-concept, concern for public image, concern for employees“(David & David, 2017, p. 48). In addition to these components, mission statements should be inspiring and generate positive feelings about the company. Table 2-5: Example Mission Statements (located on page 49) in the textbook lists a variety of different mission statements. Again, take a moment to review these, and reflect on which statement you like the most and which statement you like the least; this critical internal appraisal will assist you as you begin to develop your assignment for this week. Something you may have noticed is that within the author’s comments, each of these missions was missing at least one component. How would you suggest they revise the statements? Solid Foundation Before an organization can truly begin strategizing and planning for expansion and growth, it must first ensure its mission and vision statements are clear and solid. Every employee must be able to understand the expectations of the mission and vision statement and how to properly leverage these statements to promote the organization’s growth. Chapter 2 is a short chapter related to content, but it is a foundational chapter related to overall strategy. Remember that every organization has a purpose and role, and each company’s uniqueness is something to celebrate through the mission and vision statements. Without these statements, organizations will be unable to develop strategies for success. The mission and vision bring unity to the organization as well as provide its employees, customers, and surrounding community with its philosophy. Reference David, F. R., & David, F. R. (2017). Strategic management: A competitive advantage approach, concepts and cases (16th ed.) [VitalSource Bookshelf version]. Retrieved from https://online.vitalsource.com/#/books/9780134167947 Suggested Reading The chapter presentation below will provide you with additional information on this unit’s concepts. Click here to access the PowerPoint version of the Chapter 2 Presentation. Click here to access the PDF version of the Chapter 2 Presentation. BBA 4951, Business Policy and Strategy 2 ValueWalk: A Quick Guide On How To Start A Profitable Business Publication info: Weblog post. Newstex Global Business Blogs , Chatham: Newstex. Apr 13, 2021. ProQuest document link FULL TEXT Are you thinking about starting a small business? The thought of investing a significant amount of money into a potential business venture can be daunting. Here are some of the best tips on how to start a profitable business that will give your new enterprise the best chance at success. 1. Provide a solution to an existing problem It’s easier to establish a loyal customer base when you focus on solving an existing problem. Instead of thinking about what to sell, think about how you can help make their lives easier. Your business should fill the gap in the industry of your choosing. It’s also important to be passionate about solving the said problem so you won’t quickly grow tired of running your business. For instance, if you’re passionate about software and notice that many people struggle with finding the best restaurants in their area, you could create an easy-to-use app that connects customers to restaurants. Deprival Super-Reaction Syndrome And Value Investing Deprival Super-Reaction Syndrome And Investing. Part four of a short series on Charlie Munger’s Human Misjudgment Revisited. Charlie Munger On Avoiding Anchoring Bias Charlie Munger On The Power Of Prices The Munger Series - Learning . . . SORRY! This content is exclusively for paying members. SIGN UP HERE If you are subscribed and having an Read More Zero in on why you want to open your own business. Evaluate your motives so you can create a brand that resonates well with your audience. More importantly, know the problems your potential customers face and figure out how to solve them. 2. Create a simple business plan Once you have a business idea you want to try, the next thing you need to do is to create a simple business plan. This can seem overwhelming, especially to those who are new in the business. But your business plan doesn’t have to be overly complex in the first stages of planning. Even though we’re only creating a simple business plan, you still need to do your research. Here are some of the things you can include in your business plan: Define the problem. Highlight the solution. PDF GENERATED BY PROQUEST.COM Page 1 of 4 Outline your business model. Write down your products or services, prices, and costs. Describe your target market. Define your competitive advantage. Outline your financial summary. Indicate funding required. A business plan also gives direction as to where your business is headed. Once you have this in place, it’ll be easier for you to update and augment your processes and plans as your business grows. You can eventually add actual costs, more accurate estimates and projections, mission and vision statements, and more. 3. Define your target audience It’s entirely possible to craft the best business idea and set it up in the wrong market. For this reason, it’s incredibly important to clearly define your target audience, as well as the existing market. This gives you an idea of how your business will perform within the market. You can visit competing stores, looking at their websites and marketing materials, and see which works and which ones don’t. Defining your target market builds a solid foundation for your business so you can market your business accordingly. Here are some of the tips on how to identify your typical customer: Start by making broad assumptions about your ideal customer and then gradually narrow down your focus. Analyze your competitors. Check if your assumptions are accurate by talking to actual people or sending out surveys. Create buyer personas based on the data you gathered. 4. Ask for help Just because you’re starting a business from the ground up doesn’t mean you have to do everything yourself. Ask help from a lawyer if you need to write a contract or hire an accountant if you need someone to handle your finances. You’ll only waste more time and money, in the long run, trying to juggle multiple hats at once, especially on tasks you’re not qualified to do. If you don’t have the funds to hire someone full-time, invest in freelancers and independent contractors. 5. Get your finances in order Before you can start earning money from your startup, you’ll need to spend money. You can save and fund your PDF GENERATED BY PROQUEST.COM Page 2 of 4 business out of pocket, but not everyone has the luxury to do so. Instead, you can approach potential investors, banks, or lending companies. But if you’re self-employed with no proof of income, it can be challenging to secure financing. You can check out online lending companies that provide funding to self-employed professionals. 6. Don’t quit your day job just yet Lastly, it can be tempting to quit your day job and focus on growing your business. But launching a successful and profitable startup is a process, and it could take a while before you earn a steady income. Build your business in its early stages before you quit your day job and become a full-fledged entrepreneur. As of now, keep your day job and work on your business during your free time. Now that you know the basics of starting a small business, the next step is to put your plan to action. Take it one step at a time, and don’t be discouraged if things don’t go your way. Persevere and continue doing what you’re doing, and you’re well on your way to becoming a successful entrepreneur. The views expressed in any and all content distributed by Newstex and its re-distributors (collectively, the "Newstex Authoritative Content") are solely those of the respective author(s) and not necessarily the views of Newstex or its re-distributors. Stories from such authors are provided "AS IS," with no warranties, and confer no rights. The material and information provided in Newstex Authoritative Content are for general information only and should not, in any respect, be relied on as professional advice. Newstex Authoritative Content is not "read and approved" before it is posted. Accordingly, neither Newstex nor its re-distributors make any claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained therein or linked to from such content, nor do they take responsibility for any aspect of such content. The Newstex Authoritative Content shall be construed as author-based content and commentary. Accordingly, no warranties or other guarantees are offered as to the quality of the opinions, commentary or anything else appearing in such Newstex Authoritative Content. Newstex and its re-distributors expressly reserve the right to delete stories at its and their sole discretion. DETAILS Subject: Small business; Self employment; Audiences; Target markets; Business plans; Startups Business indexing term: Subject: Small business Self employment Target markets Business plans Startups People: Munger, Charles T Publication title: Newstex Global Business Blo gs; Chatham Publication year: 2021 Publication date: Apr 13, 2021 Dateline: Apr 13, 2021 Publisher: Newstex PDF GENERATED BY PROQUEST.COM Page 3 of 4 Place of publication: Chatham Country of publication: United States, Chatham Publication subject: Business And Economics Source type: Blogs, Podcasts, &Websites Language of publication: English Document type: Blogs ProQuest document ID: 2511754991 Document URL: https://search.proquest.com/blogs-podcasts-websites/valuewalk-quick-guide-onhow-start-profitable/docview/2511754991/se-2?accountid=33337 Copyright: Copyright Newstex Apr 13, 2021 Last updated: 2021-04-13 Database: ABI/INFORM Collection Database copyright  2021 ProQuest LLC. All rights reserved. Terms and Conditions Contact ProQuest PDF GENERATED BY PROQUEST.COM Page 4 of 4

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