Discussion Questions Assignment Example | Topics and Well Written Essays - 750 words - 3

Discussion Questions - Assignment Example berg (Saadi, 2010), cooperation with Threadless Company gave Dell possibility to be closer to its customers as such art fitted consumers of Dell products. The co called crowdsourcing is also known business model which such companies as Mars and Ben & Jerry used within their strategies. Thus, Mars has launched the global contest in order to choose the new color of M&Ms. Ben & Jerry lineup added Primary Berry Graham. If to consider firm performance regarding customer satisfaction, Ngobo (n.d.) considers that in service sectors, firm-specific effects are more important than the industry effects as it is more difficult to imitate in the customized service industries. Within the strategic management, firm effects capture variation in strategies and performance outcomes throughout industries and firms (Mauri & Michaels, 1998). The three levels of strategy, the corporate, business and functional should be paid equal attention by an organization as it enables the firm to determine its long-term direction within the external environment, meet the stakeholders’ expectations and take care of its operations (Barnes, 2007). The firm should understand where it is in business, what it should acquire or divest, how to compete in this business and with what mission, determine its strategic objectives and resources managed in the function. Despite the different length, content, format and specificity if a mission statement, it should be informative and clear, inspire employees and all organizational stakeholders. Academicians consider (David, et al., 2014) that effective mission statement includes components directed toward customers, products or services, markets, technology, environmental concerns, philosophy, concern about society, employees and self- concept. Within the modern business world, it is important for an organization to understand the external environment in order to align it with the strategies which lead to a firm’s ability to remain sustainable in the