1. What role might a mission statement have served?
Over time, the mission statement may change to take the advantage of new opportunities or respond to new market conditions. So, good mission statement must focus on a limited number of goals to produce the highest quality products, offer the most service and sell at the lowest price. To stress major policies and values to be employees act consistently on important issues. Define major competitive spheres within which the company will operate like industry, products, competence, market segment, geographic and take a long term view that gives the firm an identification about the range of technological and other core competencies that it will master and leverage. So, the mission statement must be short, memorable and meaningful.
2. What lessons are there for other companies seeking to trade internationally?
- Companies must use all the new technologies that the other competitors don not have to take a competitive advantage in making new products easily and deliver faster to customers.
- Companies must do a real research about the new fields that enter to it to put a good plan for not loosing anything and to have a good image about customers ( customer relationship management).
- Companies in the global marketplace must decide which countries to enter, how to enter each, how to adapt product and service features to each country, how to price products in different countries and how to design communications for different cultures.