Posted: January 24th, 2023

599 (2)

Use the book as a reference and both the main post and the response must have at least two outside peer-reviewed/research journal sources.

I need the main discussion thread and two responses. APA style. 

Prepare EFE and CPM matrixes for Hershey Company. Use Mars and Nestle for competitors in the CPM.

Using the EFE and CPM data, as well as your own analysis, describe how Hershey is responding to its external environment, including its direct competitors. Make sure to use important details of from your EFE and CPM results and your critical reflections to draw conclusions. Post your analysis and conclusions in narrative form no later than Thursday 11:59 PM EST/EDT.

Find at least two students whose conclusions bring new levels of understanding to your view on Hershey’s external responsiveness or conclusions where you might disagree. Post a response to two students including an explanation of the value of their contribution to your understanding or where you would “respectfully” disagree no later than Sunday 11:59 PM EST/EDT.

Running head: STRATEGIC MANAGEMENT 1

STRATEGIC MANAGEMENT 3

Strategic Management

Student’s Name

Institutional Affiliation

Date

Strategic Management

CVS Health Corporation

Aflac, Inc.

Bristol-Myers Squibb Company

Customers

Yes

Yes

Yes

Products or services

Yes

Yes

Yes

Markets

Yes

Yes

Yes

Technology

No

Yes

Yes

Survival, growth, and profitability

No

Yes

No

Philosophy

Yes

No

Yes

Self-concept

Yes

No

Yes

Public image

No

Yes

Yes

Employees

Yes

Yes

Yes

Responses

What I believe is the best of the three mission statements

In comparing the three mission statements, the one I believe is the best is that of Bristol-Myers Squibb Company. Alegre et al. (2018) posit that a good mission statement should not only be transformative but also states the purpose of the business geared towards a corporate culture guiding the operations from the present to the future. The mission statement for Bristol-Myers Squibb Company is the best of the three because it is broad in scope. As explained by David F. and David F.R. (2016) that it imperative for the breadth of a mission statement to not include ratios, percentages, amounts, and numbers, this company’s mission statement not only considers this requirement but also meets the highest threshold in terms of the included number of components written from the customer’s perspective. It is enduring as it focuses on helping the targeted customers overcome severe health problems within a considerable duration and identifies the utility of the firm’s product.

The mission statement I find inspiring

The mission statement of Aflac, Inc. is the most inspiring. An inspiring mission statement should reiterate that the business is not only obsessed with making profits but also customer-oriented by considering their financial situation and welfare when establishing its pricing strategy (David, 2016).). The mission statement for Aflac, Inc. meets this requirements as it reflects that the company is focused on providing quality products and services at affordable prices. In this regard, in compliance with imperative characteristics stated by David F. and David F. R. (2016), this mission statement reveals that the firm is socially responsible and cares about the needs and economic status of its customers.

References

Alegre, I., Berbegal-Mirabent, J., Guerrero, A., & Mas-Machuca, M. (2018). The real mission of the mission statement: A systematic review of the literature. Journal of Management & Organization, 24(4), 456-473.

David, F. R. (2016). Benefits, Characteristics, Components, and Examples of Customer-Oriented Mission Statements. International Journal of Business, Marketing, & Decision Science, 9(1).

David, F., & David, F. R. (2016). Strategic management: A competitive advantage approach, concepts and cases. Pearson–Prentice Hall.