MANAGEMENT

Detailed explanation-1: -A mission statement aims to communicate the organisation’s purpose and direction to its employees, customers, vendors, and other stakeholders. A mission statement also creates a sense of identity for employees.

Detailed explanation-2: -Strategic intent drives organisations to maintain competitive advantage or seek a new one (i.e. change). The strategic intent leads to the development of specific change initiatives within a portfolio structure.

Detailed explanation-3: -Strategic management covers the setting objectives for the company, keeping an eye on competitors’ actions, reassessing the organization’s internal structure, evaluating present-day strategies, and affirming the implementation of those strategies throughout the company.

Detailed explanation-4: -A strategic intent statement is a single-page document that defines a company’s goals in a clear and specific manner. A strategic intent statement can motivate employees and help management focus on both short-term and long-term goals.