guiding principles or values for business

Paper instructions:
This is the business that I chose. The business that I would like to open is an upscale women’s clothing store specializing in women’s dresses and suits. I would open this business in downtown Ann Arbor, Michigan. The name of my business would be called 5 Star Apparel. As a professional women I have a particular interest in suits and dresses and would like to cater to the professional women. Strategic management is the art and science that involves the formulation, implementation and the evaluation of cross functional decisions that enhance the chances of an organization to achieve its goals and objectives. It combines analytical procedures for the quest for competitive advantages. This also includes the understanding of the strategic positions of organizations and also the developing of strategic choices for the future.

Write a paper in which you explain the importance of your selected business’s vision, mission, and values in determining your strategic direction. Include the following:

• Define your business, products or services, and customers by developing a mission statement. Ensure that you are differentiating your product or service.

• Create a vision for this organization that clearly demonstrates your decision on what you want your business to become in the future.

• Define your guiding principles or values for your selected business considering the topics of culture, social responsibility, and ethics.
• Analyze how the vision, mission, and values guide the organization’s strategic direction.

• Evaluate how the organization addresses customer needs and critique how they achieve competitive advantage.