Keeping in mind what you have learned in this module, answer and discuss the following questions:

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Keeping in mind what you have learned in this module, answer and discuss the following questions:

  • Define each of these terms: vision, mission, strategy, and tactics. What is the relationship between them in relation to a firm’s strategy-planning process?
  • What is the difference between a business-level strategy based on low cost and a business-level strategy based on differentiation? How do these different strategies affect a firm’s CSR threshold?
  • List four components of a firm’s plan of action necessary to implement CSR over the short to medium term. What examples from business can you think of where firms have performed these actions successfully?

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