As with all industries a mission statement makes the main framework of a firm. In the stereo industry the mission statement is to produce equipment to pass on music to its listeners. Furthermore each firm must decide whom they want to target, and with what sort of equipment they want to target the group.
With this as a basis we are able to set a strategic goal. This goal should include our business philosophy; I.e. sound quality, price level, etc. as well as an explanation for the chosen philosophy. It should also include what product range to develop and produce. A clear ...