Evaluate the strategic implications of product-oriented and customer-oriented vision statements....

Evaluate the strategic implications of product-oriented and customer-oriented vision statements.

■ Product-oriented vision statements define a business in terms of a good or service provided.

■ Customer-oriented vision statements define business in terms of providing solutions to customer needs.

■ Customer-oriented vision statements provide managers with more strategic flexibility than product-oriented missions.

■ To be effective, visions and missions need to be backed up by hard-to-reverse strategic commitments and tied to economic fundamentals.

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