(Solution) - You have managed Indiana s Best Appliances franchises for 15 yea -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Pages: 5 Words: 1375

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You have managed Indiana?s Best Appliances franchises for 15 years and have 100 employees. Business has been profitable, but you are concerned that the Fort Wayne locations could soon experience a downturn in growth. You have decided to prepare for such an event by engaging in a higher level of strategic planning, beginning with a company mission statement.
a. How does a mission statement add strength to the strategic planning process?
b. Who should be involved in developing a mission statement and why?
c. What factors should be considered in the development of a mission statement?
Why are these factors important?