Mission and Vision Statements, Competitive Strategies for Smithfield Custom Furniture's New Product

Requirements for Mission and Vision Statements

Task:

In your role as a consultant to Smithfield Custom Furniture, Jonas Smithfield III has requested you, using this week's assigned reading, to provide to him the following information: 
An explanation of what a mission statement requires plus a mission statement for the new furniture line. Use in-text citations and list references from course readings as required. 
An explanation of what a vision statement requires plus a vision statement for the new brand. Use in-text citations and list references from course readings as required. 
An analysis of how Michael Porter’s competitive strategy applies to both Smithfield’s exclusive product line and the newly conceived more reasonably priced product line. Use in-text citations and list references from course readings as required. 
A list from this week’s course readings, placed in priority order, of the 3 next steps Jonas Smithfield III should take to enhance his chances for success if he moves ahead with the new product line. Justify the selection of your 3 priority steps by writing a 2-3 sentence rationale for each.  Use in-text citations and list references from course readings as required.   

Format for Your Initial Post
You must use the following numbers and headings for each part of your response to a particular issue. You will also use, as required, in-text citations and a reference list to support your answers. 
1. Explanation of Mission Statement Requirements
2. A Mission Statement for Smithfield Custom Furniture's New Product Line
3. Explanation of Vision Statement Requirements 
4. Vision statement for Smithfield Custom Furniture's Product Line
5. Application of Porter’s Competitive Strategy    
6. Priority Order/Justification Smithfield's 3 Next Steps