. Define the terms vision, mission, and values. Why are these three
concepts the first steps in developing a company’s strategy?
3. Our text states that “strategy if the art and science of success and failure”. Discuss.
4. From prior classes, define the terms manager and leader. Noting
the differences and using the Level 5 leadership pyramid, Exhibit 2.2,
critically discuss the progression from Level 1 through Level 5.
5. Critically look at Exhibit 2.3, Strategic Formulation and
Implementation across Levels. How does this exhibit interact with the
strategic management process?