System Plan Question Paraphrasing (Proofreading Sample)

Top of Form Question 1 Explain how vision and mission statements can provide a basis for developing other aspects of your strategic plan. Strategic planning is a critical process for achieving the overall goals of any organization. Strategic planning includes developing the Vision, Mission, Objectives, Strategies, and Action (VMOSA) Plans. Business organizations use the VMOSA planning process to implement their initiatives by providing the framework to turn the theoretical concepts into practical action plans to realize the organizational goals. A vision statement is essential for communicating the organization's norms and conventions to the stakeholders, such as staff and external partners. A mission statement provides an organizational blueprint of what a company intends to do to achieve its vision. While the vision statement is more theoretical, the mission statement is action-oriented. After creating the vision and mission statements, the next step is to define the specific objectives or measurable outcomes for the broad company goals. The strategies describe how the organization will achieve its objectives. The strategies involve people from different departments, communities, and sectors. The final step in the VMOSA process is the action plans. The action plans define how the firm will implement its strategies to realize its goals. The vision and mission statements lay the foundation for achieving the other steps in the VMOSA process. The Community Toolbox (n.d) hints that mission and vision statements affect everything an organization does. The mission and vision provide a foundation for implementing the other VMOSA steps. The Community Tool Box. (n.d.). Developing a Strategic Plan and Organizational Structure, Chapter 8, Section 2. In Developing a structured plan and organizational structure. HYPERLINK "https://ctb.ku.edu/en/table-of-contents/structure/strategic-planning/vision-mission-statements/main"https://ctb.ku.edu/en/table-of-contents/structure/strategic-planning/vision-mission-statements/main Question 2 A mission statement has the following principles: concise, outcome-oriented, and inclusive. Write a paragraph explaining all three principles as they pertain to mission statements. The mission statement defines what an organization will do and the reasons for doing it. The term concise in mission statements implies that they are brief and comprehensive. The phrase 'outcome-oriented' means that the mission statement aims to achieve definite results for the organization. Inclusive implies that the mission statement is broad enough to cover all the related aspects of the organizational goals (The Community Tool Box. n.d.). Viable mission statements consider all the groups or stakeholders involved in the projects, such as the community and stakeholders from different sectors. The Community Tool Box. (n.d.). Developing a Strategic Plan and Organizational Structure, Chapter 8, Section 2. In Developing a structured plan and organizational structure. HYPERLINK "https://ctb.ku.edu/en/table-of-contents/structure/strategic-planning/vision-mission-statements/main"https://ctb.ku.edu/en/table-of-contents/structure/strategic-planning/vision-mission-statements/main Question 3 Explain how goal setting helps to define company culture and helps managers assess performance. Goal setting is a critical step in defining an organizational culture. Goal setting involves deploying massive resources to the achievement of company goals. Goals help state what each department will do to contribute to the organization's goals. Assigning responsibilities to various stakeholders from different departments creates a suitable environment with the correct norms for achieving the goals (Ebert and Griffin, 2019). It includes developing a corporate culture recognizing and rewards success while condoning and discouraging failure. The management sets standards to achieve the goals, hence defining the corporate culture through goal-setting. Ebert, R. J., & Griffin, R. W. (2019). Business Essentials (12th ed.). Prentice Hall. Question 4 Question text Briefly define corporate strategy and the terms “related diversification” and “unrelated diversification” in this context. Corporate strategy refers to the company or business plan that an organization will adopt to undertake its operations (Ebert and Griffin, 2019). s. It determines what a business will own and operate, such as single or multiple businesses. A corporate strategy includes plans or approaches to increase a business's operations or investments or even to downsize them. A corporate strategy may be growth by mergers and acquisitions or by expansion into new markets and product lines. Related diversification refers to a concept whereby businesses operate in the same industry. Unrelated diversification, on the other hand, is a growth strategy whereby business activities are not similar. For example, a company like Samsung follows unrelated diversification since it operates in the electronics, chemical, and construction industries. Hotel chains such as Taco Bell, Pizza Hut, and KFC adopt a related diversification strategy because they operate in the same sector under YUM brands. Ebert, R. J., & Griffin, R. W. (2019). Business Essentials (12th ed.). Prentice Hall. Question 5 According to Bolland (2017), how can poor vision statements be fixed? According to Bolland (2017), poor vision statements are corrected by comparing them with the features of a good vision statement and then mending the deviations. However, there is a need to consider the factors affecting the ability to create a good vision statement, such as internal and external factors. The external factors can be studied using the PESTEL tool that analyzes the political, economic, social, technological, environmental, and legal environments. The competitive situation is another factor to consider by determining the existing competitive strengths of the rivals in the same industry. Bolland, E. J. (2017). Comprehensive strategic management: A guide for students, insight for managers. Emerald Group Publishing. Question 6 According to Bolland (2017), how can poor mission statements be fixed with a single move?  New people bring ideas that help shape organizational mission and vision (Bolland, 2017). Changing a mission statement in a single move implies that all the fundamental elements of the mission statement are adjusted once. The need for fixing poor mission statements is necessitated by several factors, such as in a new merger, during the emergence of new opportunities after significant growth, or even when organizations transition from entrepreneurial to managed status. It can also be corrected when a new manager inherits the firm from the founder hence the need to check if the former mission aligns with the current mission of the manager. Bolland, E. J. (2017). Comprehensive strategic management: A guide for students, insight for managers. Emerald Group Publishing. Question 7 When creating a good mission statement, entrepreneurs should choose their words wisely. Explain what things should be avoided and why. Describe what a mission statement should be instead. A mission statement originates from people, not the organization itself (Bolland, 2017). A mission statement should be clear and easily understood by all stakeholders. It should be written in simple language using simple words. Poor mission statements reflect improper vision statements. Poor mission statements use wordy and complex words and do not explicitly state A poor mission statement is wordy and uses complex words that make it hard for the reader to understand the main aspects of an organization. Poor mission statements do not explicitly state how to meet the interests of customers, employees, and investors. They also lack completeness or describe non-existent business products or services outside the company operations. A viable mission statement should describe the goods and or services offered. Poor mission statements do not state what an organization engages in, hence making it difficult for external stakeholders to understand what kind of business a firm is in. Good mission statements are simple, non-ambiguous, and succinct. They also contain elements of value addition as the potential customers or clients would like to know what the firm can do for them by defining its products and services. It also demonstrates how an organization carious out its operations. A good mission statement is distinct from a vision statement. It also creates an identity for the organization. It should help rally the employees by defining how the company conducts its operations and workforce roles. It provides a mechanism or platform for executives to agree on the organizational purpose. Bolland, E. J. (2017). Comprehensive strategic management: A guide for students, insight for managers. Emerald Group Publishing. Question 8 Explain the correlation between non-financial measures of organizational performance and mission components. A mission statement positively correlates to organizational performance. According to Rajasekar (2013), the purpose of a mission statement lies in its content. However, a debate lingers on whether the content of a mission statement impacts a firm's financial performance. While some researchers think there is no direct relationship between mission statements and the fiscal outcomes of a business, others opine that such a relationship exists. Some researchers state that there is a relationship between mission statements and non-financial indicators of company performance, such as commitment, behavior, alignment with the organization, and customer satisfaction. Rajasekar, J. (2013). A Comparative Analysis of Mission Statement Content and Readability. Journal of Management Policy and Practice, 14(6), 131–147. Question 9 Write a paragraph explaining why or...