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Module 2: Scaling-up Corporate Vision,

Mission, Goals and Objectives

Module Outcome:
At the end of this module, you are expected to assess corporate vision, mission, goals,
and objectives.

Specific Learning Outcomes:

At the end of this module, you will be able to;

1. Explain the basic concept of strategic planning

2. Explain the criteria in evaluating the VMGO
3. Evaluate corporate VMGO

Introduction:

Welcome to Module
2 of Strategic Management!
This module was designed
to give you a grasp on
strategic planning which
will further guide you in
discovering the significance
of creating a company
vision, mission, goals, and
objectives. Strategic
planning starts with a
corporation’s strong
Image from https://cfnrv.org/event/strategic-planning-creating-a-road-map-for-the-new-year/

understanding of its mission, its vision, or where it wants to be in the future, and it is also
a subsection of business management that involves a corporation's capacity to set both
short and long-term goals. Thus, it is essential to understand deeply the corporate vision,
mission, goals, and objectives to improve the strategic plans and business strategies of a
corporation or organization.
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Let’s try this puzzles!

In puzzles and riddles, as in life, you often learn more from
your mistakes. It's particularly important to notice which
styles of thinking helps you find answers, and which get on
the way or what are the best strategies to get through it.
Many of the best puzzles are designed to tempt you into
these thinking, "traps.” And if you can't crack all of these
puzzles right away, you can always try again and have a
good strategy. This is a non-graded activity so just have fun!
The answers are found at the end of the module.

Puzzle 1: Link all nine dots by drawing

just four straight lines and without taking
your pen off the page?

Draw your answer on the right box.

Puzzle 2: If a plane crashes exactly on the

border between France and Germany, in
which country should the survivors be
buried? (Many people get this one wrong by
Puzzle 3: 3, 3, 5, 4, 4, 3, 5, 5, overlooking the obvious.)
? What’s next in this series? Answer:
__________________________________
Answer:_________________ ____________

Puzzle 4: Where do you think

does Friday come before
Thursday?

Puzzle 5: Imagine that you put a coin inside Answer:_________________

an empty wine bottle and sealed it with a cork.
How can you possibly take out the coin
without pulling the cork out of the bottle?

Answer:____________________________
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Lesson 4: Concept of Strategic Planning

Basic concepts of strategic planning were discussed in your Module 1, and it was
mentioned that this process is a systematic or emerged way of performing different phases and
it begins with the initial assessment, thorough analysis, strategy formulation, its implementation
and evaluation.

Strategic Planning is the process of supporting and establishing a direction of a company

by assessing both where they are and where they want to go in the future. The strategic plan gives
you a place to analyze your mission, vision, and values, as well as your long-term goals along
with the action plans to reach them. A well-crafted strategic plan essentially helps the corporation
in attaining their goals and aspirations as it guides the employees on what to do with
opportunities and how to react with challenges (Vo, 2020).

Moreover, there have been different components of the strategic process, but basically it
has four major phases: strategic analysis, strategy formulation, implementation and monitoring.
But before the implementation of the four major phases of strategic planning, the corporation
must first conduct an initial assessment or scaling-up of the corporate vision, mission, goals and
objectives.

Vision
Mission

Goals &
Objectives

Initial Assessment
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Activity 4
Word Search Puzzle
Instruction: Search and encircle the terms related
to Strategic Planning. There are eleven (11) terms in the
box, hence, you have to strategize on how to achieve the goal
of encircling all these terms within five (5) minutes. Please use a stopwatch or a timer
and crash-out the terms you have searched or encircled below. So let’s see how effective
your strategy is, just Be honest and Enjoy searching!

Terms: Strategic Planning Vision Mission

Goals Objectives Clear Challenging Understandable Motivating Feasible

http://puzzlemaker.discoveryeducation.com/WordSearchSetupForm.as
p
So, how did it go? How many terms did you find? And yes, I’d like to ask if you have reached your goal, and
please discuss briefly how important is to devise a strategy?
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Lesson 5: Vision, Mission and Objectives

VISION
Vision has been defined differently by various authors. According to Kottre (1990), it as
a depiction of something like the corporate culture, a business, a technology, an activity in the
future. Meanwhile, El-Namaki (1992) said that vision is a psychological perception of the
environment an individual, or an organization, aspires to create within a timeframe and the
actualization of this perception. Further, Miller and Dess (1966) explained that vision is a category
of intentions that are broad, all-inclusive, and forward thinking. Thus, these definitions of vision
and several others available in strategic management literature relates to the vision being future
desires that serves as a motivation to do their best in the chosen industry or field.
Characteristics of an Effective Vision Statement (if you want to read more, just click this hyperlink)

Future Focused
•Vision describes the organization’s desired future or the “big picture”.

Directional
•Vision provides direction as to where the organization wants to go.

Clear
•Vision provides clear guidance for decision-making and actions to be taken.

Relevant
•Vision must be relevant to the organization and reflects the organization's response
to the future challenges.

Purpose-Driven
•Vision makes a significant purpose for the organization and its entire human
resource.

Values Based
•Vision relates people to the oganization’s core values.

Challenging
•Vision invites challenges to the organization for greater success.
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MISSION
A mission was earlier considered as the possibility of the business activities that a firm
chase. The definition of mission progressively stretched to represent a concept that represents the
purpose of the organization’s existence. According to Thompson (1997) mission is the
indispensable purpose of every organization, concerning particularly why it exist, it also reveals
the nature of the business, and the customers it pursues to serve and gratify. Hunger and Wheelen
(1999) also said that mission is the drive or the reason for the organization’s existence. These
definitions signal the consistency of viewpoints about the definition of mission. However, in the
strategic management literature, the mission inhabits a certain place in the organization’s
strategic intent.

Characteristics of an effective Mission Statement (if you want more, just click this hyperlink)

A mission statement defines the true reason for the existence of that organization or
corporation. This statement reveals the corporate philosophy, identity, character, and image of
an organization. It may be defined explicitly or could be realized from the management’s actions,
and decisions. When clearly defined, it delivers enlightenment to the employees and clients on
what the organization stands for. In order to be effective, a mission statement should have the
following seven characteristics:

•A mission should always target high outcomes,, but it should

Feasible be realistic and feasible, so that the people would find it to be
credible.

•A mission statement should not be so narrow as to limit the

Precise organization’s activities, nor should it be too wide-ranging to
make itself meaningless.

•A mission should be clear enough to be accomplished and not

Clear exaggerated for publicity purposes.

•A mission statement should be motivating for its people and

Motivating
the entire society.

•A mission statement should be distinctive or unique to create

Distinctive
an impact in the society.
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GOALS/OBJECTIVES
Goals signify what an organization hopes to achieve in a specific period of time. These are
future-oriented or an outcome of the effort put into action. Objectives are specifically created to
achieve the goals of an organization. They are realistic and detailed in distinction to goals which
are in general statements. Hence, these objectives make the goals effective. These statements must
be measurable and comparable. In strategic management literature, there has been misperception
with the usage of these terms. More often than not, these terms are used interchangeably. Goals
imply the broader sense of the term objectives. However, in this module, we would prefer to use
only the term objective to signify both.

Characteristics of an effective Corporate Objectives (if you want to read more, just click this hyperlink)

Understandable
•Objectives play an imperative role in strategic management and are put to use in a variety of
ways, these objectives must be clear enough to be achieved by its people.

Concrete and Specific

•Objectives must be specific just like saying “our corporate plans to attain a 15% increase its
monthly sales’. That example is concrete and specific than stating that our corporate plans to
increase its sales’.
Be related to timeframe
•Objectives must be related to timeframe so that managers or employees identify the duration
to accomplish these objectives.

Measurable and Controllable

•Objectives must be measurable and controllable like the number and quality of job
applications received, or staff turnover per year could be planned so that the achievement
will be measured or controlled in comparison to other organizations in the same industry.
Challenging

•Objectives that are too ambitious or too easy are both demotivating. Hence, it should be
challenging and realistic.

Correlate with each other

•Objectives must be equally supportive and correlated with each other to achieve optimum
results.

Be set within constraints

•Organizations certainly faced different constraints internally and externally that’s why
objectives must always consider these constraints to attain positive results.
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Activity 5
VMGO Critiquing

Instruction: Based on the characteristics of an effective

vision-mission statement, goals and objectives of a company, try to evaluate
the following VMGO’s of different companies worldwide and answer the questions in the space
provided. Your answers will be assessed based on the rubrics presented at the end of the module.

1. What can you say about Avon and Nike’s vision

statements? Please write in the space provided below.
________________________________________________
________________________________________________
________________________________________________
________________________________________________
To be the company that best ________________________________________________
understands and satisfies the product, ________________________________________________
service, and self-fulfillment needs of ________________________________________________
women—globally.
________________________________________________
________________________________________________
________________________________________________
________________________________________________
________________________________________________
________________________________________________
________________________________________________
________________________________________________
________________________________________________
________________________________________________
________________________________________________
________________________________________________
________________________________________________
_________
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Our Mission is to provide products, services and

business opportunities to every Filipino Family.
We establish lasting relationship with our
Suppliers and Business Partners. We strive to We nurture every Filipino’s future with a
To provide goods and vital services well
promote the personal and professional trusted approach to managing money and
development of our Employees. Sa bawat araw, within the reach of every Filipino, making
innovation that makes life easier every
Puregold kasama mo! everyday life a celebration.
day.

2. Which among the three companies has a motivating and distinctive mission statement? Explain your
answer.

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3. Assess and compare the corporate objectives of
_________________. McDonalds and Coca-Cola.
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Activity 6
Case Analysis

Instruction: Read and evaluate Samsung’s

Case Study and answer what is being asked on the space provided and take the time to read,
understand and analyze. There will be no time limit for this activity. Your answers will be
assessed based on the rubric presented at the end of the module.
Samsung’s Mission Statement & Vision Statement (An Analysis)
VICTORIA MARTIN, March 18, 2019
(retrieved from: http://panmore.com/samsung-corporate-vision-statement-corporate-mission-statement-analysis)

Samsung is a technology conglomerate whose corporate mission and vision statements focus on innovation for global
societal improvement through technological products. The company’s mission statement indicates superiority, which implies
excellence and leadership in the semiconductors, electronics, and other markets. On the other hand, Samsung’s vision statement
promotes an inspiration-focused strategic objective that makes the business an influencer among people and societies around the
world. Thus, the combination of the corporate vision and mission statements creates the idea of a technological conglomerate that
aims for industry leadership and global influence. In order to follow Samsung’s corporate mission and corporate vision, the business
organization must ensure competitive advantages against major technology companies, including Apple, Sony, Intel, Microsoft, and
LG. This competitive landscape imposes strong forces and strategic challenges that require high rates of innovation and high quality
standards in Samsung’s operations and technological product development and design, as well as the utilization of advanced
technologies to support operations.
Samsung’s mission statement is “We will devote our human resources and technology to create superior products and
services, thereby contributing to a better global society.” This corporate mission was published in the 1990s, when the company was
undergoing rapid global expansion in various semiconductors, electronics, and related technology markets.
In its mission statement, Samsung identifies human resources and technology as the two main assets that it uses to pursue
its purpose and strategic objectives in its global industries. This component of the corporate mission requires that the company
maintain highly competitive compensation packages and related human resource administration and development programs to
attract sufficient talent while competing against technology giants like Apple Inc. and Google LLC. Considering the significance of
human resources, Samsung’s corporate culture is a determining factor in fulfilling its corporate mission. On the other hand,
superiority of products and services is at the core of fulfilling the consumer electronics company’s corporate mission. Such
superiority emphasizes the importance of strategic management that directs decisions at Samsung’s headquarters toward
operational effectiveness for high quality organizational outputs in various technology markets. In a way, this component of the
mission statement pushes the corporation to ensure an effective value chain and achieve its value proposition, such as effective and
high quality consumer electronics. Furthermore, the corporate mission targets positive contributions to improve the global society,
leading to Samsung’s generic strategy, intensive growth strategies, and strategic objectives that include the provision of high quality
products, such as smartphones, laptops, and home appliances. In relation, to achieve a positive global impact, the company has
embarked on various multinational acquisitions, such as the purchase of Harman International Industries, which now operates as a
subsidiary of Samsung Electronics. Global scope and societal improvement are factors that link the mission statement with the
technology corporation’s vision statement.
Samsung’s corporate vision is to “Inspire the world with our innovative technologies, products and design that enrich people’s
lives and contribute to social prosperity by creating a new future.” The company follows this vision statement to maintain profitable
technology business operations that contribute to the improvement of people’s lives. Samsung frequently refers to a shortened
version of this corporate vision: “Vision 2020: Inspire the World, Create the Future.” The company extensively implements this
statement throughout its subsidiaries’ operations in the consumer electronics, computing technology, and semiconductors
industries. Based on its vision statement, Samsung’s strategic objectives include the development of products that inspire. This
inspirational aspect requires the company to consider local and regional market conditions to ensure that its technological products
actually inspire people despite differences in their societal situations. Samsung’s corporate vision also pushes for a high degree of
innovation. Technological innovation is especially notable in the company’s products, such as smartphones and laptops. Moreover,
the vision statement indicates strategic efforts that include Samsung’s corporate social responsibility strategy for improving people’s
lives and contributing to social prosperity. This corporate vision means that the company sees itself as a mover and major contributor
to the world’s improvement through consumer electronics, semiconductors, and other products that add value to people’s lives and
society. In a way related to the mission statement, Samsung’s corporate vision includes a global scope of application and the aim of
contributing to societal improvement.
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Answer the following questions:

a. Examine the vision and mission statements of Samsung. Do you have any
recommendations for the improvement of vision-mission statements of Samsung?
Answer:___________________________________________________________________
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b. How does the vision and mission statements of Samsung influence their brand
positioning in the industry?

Answer:___________________________________________________________________
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Activity 7
Self-Visualization

Instruction: Just hold on! You are nearing to the end of this module. At this point, you may
conduct a self-assessment and scan your vision, and goals in life. And try to visualize walking
into a vast room, it’s five years advanced after college graduation and you are shaking hands with
yourself. Who are you? What is your life like? What is your business like? Write down your
visualizations. Don’t let yourself wake up in five years and say, ‘I’m five years older, and I just
happened to get here.’ Clarify your vision so that you can grow into it.”
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Congratulations! You have done a

very good job! You must be ready for
Module 3! Keep reading and enjoy
learning!

Puzzle Answers:

1.

2.Survivors don’t need to be letters), two (3), three (5), and so on. So the next number is
buried anywhere. nine, which has four letters in it.)

3. 4 (As the question says, it’s a “numeric” code, but it’s 4. In dictionary
based on the number of letters in each number word: one (3
5. Push the cork into the bottle.

References:

Rao, et al. (2017). Strategic Management. Retrieved June 11, 2020 from
http://ebooks.lpude.in/commerce/mcom/term_4/dcom506_dmgt502_strategic_management.pdf. (pp21-23).

Addy, D. (2015). Vision and Mission, a set for criteria for development and evaluation. Retrieved July 6, 2020 from
https://www.slideshare.net/daveaddy/vision-and-mission-statements-a-set-of-criteria-for-development-and-evaluation.

Case Analysis from http://panmore.com/samsung-corporate-vision-statement-corporate-mission-statement-analysis

Untitled Image of Strategic Planning: https://cfnrv.org/event/strategic-planning-creating-a-road-map-for-the-new-year/

Rubric for activities:

Score Content Organization Development Use of Language
50 Answer is appropriate to Clear sense of order. Begins Develops each point Uses strategic management
the question. Content is with a topic sentence. with may specific terminology appropriately
factually correct. Supporting points are details. Answers and correctly. No major
presented in a logical question completely. grammatical or spelling
progression. errors.
40 Answer is appropriate to May lack a proposition Each point supported Accurate word choice. No
the question. Content may sentence, but points are with some details and more than 2 major errors and
have one or two factual presented in a logical evidence. All important a few minor errors.
errors. progression. points included.
30 Content relates Logic of argument is Sparse details or Ordinary word choice; use of
peripherally to the minimally perceivable. evidence. Question only scientific terminology
question; contains Points presented in a partially answered. avoided. Some serious errors
significant factual errors. seemingly random fashion, (but they don’t impair
but all support argument. communication).
20 Content unrelated to Lacks clear organizational Statements are Limited vocabulary; errors
question. plan. Reader is confused. unsupported by any impair communication.
detail or explanation.
Repetitious, incoherent,
illogical development.