Module 4 5
Module 4 5
MANAGEMENT
Module 4 & 5
Group 4
Bernardo, Jaimelyn
Janda, Eunice Tricia May G.
Menodiado, Cyrhel Andrei
Reyes, Angel John S.
Salazar, Raesheil
Toledanes, Caryl
Vitacion, Wendielyn
Strategic Management
Module 4 - Mission & Vision
1. What is a vision statement? Describe how IKEA’s vision statement fits the definition of a
Vision Statement?
1. Broad in scope; does not include monetary amounts, numbers, percentages, ratios, or
objectives.
2. Fewer than 150 words in length
3. Inspiring
4. Identifies the utility of a firm’s products
5. Reveals that the firm is socially responsible.
6. Includes the nine components:
customers
products or services
markets
technology
concern for survival/growth/profits
philosophy
self-concept
concern for public image
concern for employees
7. Reconciliatory
8. Enduring
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Strategic Management
Module 4 - Mission & Vision
3. Compare the mission & vision statement of the two leading fast food companies in the
Philippines based on the (5) characteristics of a vision statement based on#1 above and
(8) characteristics of a mission statement in #2 question.
(JOLLIBEE)
Based on Jollibee's vision and mission statements, striving for every visit should be extremely
gratifying for the customer. JFC wants to establish itself as a model corporate citizen through being
relevant to the communities they serve, as mentioned in its statement. One of the biggest fast-food chains
in the Philippines, they are known for their values. Excellence and respect for the individual are important
to them. The success of their company depends on them working well together.
(IKEA)
Ikea's mission is to run a sustainable business. IKEA provides products and services that
generally benefit both the environment and people. One of the few international brands that offer easily
accessible home furnishings is IKEA. The variety of goods the organization offers its customers has been
continually expanding. IKEA offers a vast range of products, from home goods to dining establishments.
Furniture is the most popular product sold worldwide. A company's mission statement outlines its goals
as well as the strategies it will use to achieve them. The following are components of IKEA's mission
statement that describe the company and are consistent with its goals and purpose. Like a wide range of
products, sustainability, and affordability.
4. Enumerate (only) the ten benefits of having clear mission and vision as stated in the
module.
Strategic Management
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Module 5 – Internal and External Audit
2. In the topic, Integrating Strategy and Culture, it was mentioned that, “culture and strategy
should stay together”. Enumerate the 3 reasons why.
1. Management
2. Marketing
3. Finance and Accounting
4. Production or Operations
5. Research and Development
6. Management Information Systems
4. The functions of management consist of five basic activities. These activities must be
examined in strategic planning because an organization should continually capitalize on
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its strengths and improve on its weaknesses in these five areas. Enumerate these five
areas.
1. Planning
2. Organizing
3. Motivating
4. Staffing
5. Controlling
The Value Chain Analysis (VCA) is a strategic process where a firm identifies the
expenses related to organizational activities, from acquiring materials to producing, marketing,
and selling its products. Its objective is to determine the most valuable activities, such as the
source of cost or differentiation advantage to the firm, which can be enhanced to provide a
competitive advantage. In other words, it is a process of evaluating the company’s operations to
identify areas that provide opportunities for improvement.
6. What is benchmarking?
Benchmarking is an analytical tool used to identify whether a firm’s value chain analysis
has a competitive edge over its competitors and has a high possibility of succeeding in the
marketplace. It is also a process of measuring the highest standards for products, services, and
processes throughout the market to determine the best practices among its competitors in order to
reproduce or develop those best practices. In other words, it is a process where a firm evaluates
its performance against its competitors to identify a gap in the performance that can be filled by
enhancing its performance.
7. How will the Audit Checklist of Questions in Different Departments help the
organization attain its goal in a successful internal and external audit process?
Every organization will be able to accomplish its objectives with the help of the Audit
Checklist of Questions because it serves as a guideline for the organization's success in terms of
the internal and external audit processes. Without it, every company will be in disarray, which
could lead to the loss of the company. The objective of it is to evaluate the efficiency of the
organization's quality management system as well as the organization's overall performance. It
also displays adherence to the predetermined plans, the Quality Management System, and how its
procedures are implemented and maintained. Lastly, it is also a way to ensure that the business
complies with all standards-related regulations. Overall, this can help every organization
become more effective.