105 Follow Your Mission
Business units or subsidiaries of holding companies follow steps nearly identical to those taken by independent, focused businesses when developing strategies and strategic plans.
The strategic plan for a business unit or independent business is a high-level conceptual document that articulates the purpose of the business and sets its direction. It addresses creating and serving customers.
The mission statement of a business articulates its purpose and provides a guiding aim or intention. A business unit of a holding company may have its own mission statement, but all of its guiding principles should be consistent with those of the parent company.
The primary purpose of a business can be described in terms of whom it will ...
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