2.1 A new company can best define its business mission statement by first answering the question "What business are we in?" Anther key is to not define the products or services that they produce/sell, but rather focus on the market(s) being served and the benefits being sought by the customers. American Standard Company's mission statement is "Be the best in the eyes of our customers, employees and shareholders." This does not define the market(s) being served or the benefits to the customers. The AMA's mission statement is "The American Marketing Association is a professional association for individuals and organizations involved in the practice, teaching and study of marketing worldwide. Our principal roles are:
Improving - Advancing marketing competencies, practice and thought leadership.
Promoting - Being an advocate for marketing and promoting its importance, efficacy and ethics.
Supporting - Being an essential resource for marketing information, education/training and relationships". It clearly indicates what market is their focus and the benefits they provide.
4.1 United States Postal Service S - Well known public image. Volume of preexisting locations established. Only self-sufficient gov't entity. W - It is a gov't entity. Incredibly large and strong union. O - As a gov't entity they may have easier access to international locations during times of war or high terror alert. T - Terrorism, may be too visible a target for anti-US terrorist.
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Can you see why the opportunity you cite may be more of a strategic choice? An opportunity is truly external to the company, meaning it exists for everybody.
Very good class participation--thanks. Your blog answers could be expanded in certain areas where a deeper treatment may be called for, such as the SWOT material. No need to write a book, but if the question topic is concerned with a big issue (ethics, globalization, etc.), you might want to provide a bit more detail. This does not hold true for all questions, obviously.
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