2.Select a small business that you may want to start
(Restaurant). What is strategic management and planning? Why would a strategic
plan be important to the success of this business? How are the four functions
of management relative to creating and implementing a strategic plan?

3.You say that a company needs a mission statement from day
one, yet there are a lot of small businesses that get started without even
having a strategy in place. All they’re focused on is meeting the day-to-day
customer needs and making sure the bills are paid at the end of the month. Many
of these small businesses remain successful enough to stay in operation for
years without ever having a mission, a vision, or a strategic plan. So when
does a mission become necessary? Is it when the organization reaches a certain
number of employees? If the owner decides that they want the business to grow?
If you want to take the company public?

4. a company can have an successful strategy without having
an effective mission or vision statement. Does that create any problems for the
employees if the strategy is telling them to do one thing and the mission and
vision are telling them to do another? Over time, companies will often shift
their strategies to keep up with a changing marketplace. Do the mission and
vision need to change with the strategy?