The Corporate Mission and Vision The first component of the strategic management process is crafting the organization's mission statement which is a description or declaration of why a company is in operation, which provides the framework or context within which strategies are formulated. A mission statement typically has three main components: a statement of the company or organization which normally referred to as the mission or vision of the company. (Hill/Jones, Page 10) The mission …showed first 75 words of 2274 total…

…showed last 75 words of 2274 total…differentiation based on competitive advantage. Achieving a superior quality and innovation is integral to achieving superior responsiveness to customers. Other sources of enhanced responsiveness to customers are superior design, superior service, and superior after-sales service and support. All of these factors enhance responsiveness to customers and allow a company to differentiate itself from its less responsive competitors. REFERENCES Hill, Charles W. L./ Jones, Gareth R. Strategic Management - An Integrated Approach. Six Edition, (2004) Houghton Mifflin.