D WK 1 - FINANCE - PLAGIARISM FREE - DUE AT 11PM EST TONIGHT (3 HOURS)

NUMBER ANSWERS ACCORDINGLY - QUALITY WORK (MINIMUM OF 200 WORDS)

1. What is strategic management? What are the roles of mission and vision statements in strategic management? Can an organization have a successful strategic plan without effective mission and vision statements? Why or why not? 

2. Select a small business (Fashion Boutique) that you may want to start. What is strategic management and planning? Why would a strategic plan be important to the success of this business? How are the four functions of management relative to creating and implementing a strategic plan?

3. What is risk management? What is the importance of risk management in an organization? How does risk management mitigation create value for an organization?

4. What are risk management benefits? What is the difference between hard and soft risk management benefits? Why would an organization choose one benefit over another?

5. What are different types of risk? How would you differentiate a typical and a corporate risk? Which type has the most effect on your organization, or one with which you are familiar?