![]() To make a vision explicit and action-oriented, many companies have adopted what is known as a “mission statement,” which defines the goals, values, and overall direction of the company. A company’s strategic vision constitutes the activities that the company intends to pursue in creating its customers. The success of every company is based on a direction, preferably long-term, that differentiates the company’s approach from that of others.Ī vision determines what the company should work toward, in the light of long-range opportunity. A company can expect to achieve a competitive advantage or leadership position only when it has laid out its strategic direction. a) Define strategic financial management.othoq to insioilte-co. ![]() Answer does not have any relation with the question or topic. A first step is to have a strategic direction that refers to the network of vision, goals, and objectives. GGSIPU, New Delhi MBA 4th sem Strategic Management paper 2018 question paper and solutions. Companies rising to prominence in their markets pursue strategic directions relentlessly.
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