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?