There is no standard approach to strategic planning. Some managers believe that a
firm’s mission statement should contain an inspirational message to its stakeholders.
Others feel that unless a firm starts with a realistic SWOT assessment, it might develop a
mission statement that is unachievable. The majority of companies view the strategic
planning process as a dynamic interaction, similar to the diagram in Figure 2-4, where
the company’s mission statement reflects a long-term horizon, but sets forth goals that
are achievable and consistent with real-world conditions. Figure 2-5 on the next page
shows how purpose, vision, and values are revealed in one company’s Web site.