Scribd
Upload
53 views32 pages

Chapter 2 - Business Vision Mission

Uploaded by

saya siapa?
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
53 views32 pages

Chapter 2 - Business Vision Mission

Uploaded by

saya siapa?
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 32

Business Vision

& Mission
Chapter 2
2.1 Explain the need for core values statements in
strategic management.

2.2 Describe the nature and role of vision


Learning statements in strategic management.

Objectives 2.3 Identify the characteristics of a vision


statement.
(1 of 2)
2.4 Describe the nature and role of mission
statements in strategic management.

2.5 Identify and discuss the characteristics of an


effective mission statement.
2.6 Identify the components of mission
statements.

Learning
Objectives (2 2.7 Discuss the benefits for a firm of
having clear vision and mission
of 2) statements.

2.8 Evaluate and write mission


statements for different organizations.
Figure 2.1
A Comprehensive
Strategic-Management
Model
Core Values •A core values statement specifies a firm’s commitment to
integrity, fairness, discipline, equal employment opportunity,
Statement teamwork, accountability, continuous improvement, or other
such exemplary attributes.
Vision Statement

A vision statement
should answer the basic
question:

“What do we want to
become?”
What Do We Want to Become?

The vision statement should


be short, preferably one
The vision statement should
sentence, and as many
reveal the type of business the
managers as possible should
firm engages.
have input into developing
the statement.
Vision Statement
Examples

• D r Pepper Snapple: To be the best


beverage business globally; our brands
are synonymous with refreshment, fun,
and flavor today and tomorrow.
• Starbucks: To be the premier purveyor
of the finest coffee in the world while
maintaining uncompromising principles
as we steadily grow.
A declaration of an
organization’s “reason for
being.”

Mission
Statement It answers the pivotal question
“What is our business?”

(1 of 2)
It is essential for effectively
establishing objectives and
formulating strategies.
It reveals what an organization wants
Mission to be and whom it wants to serve

Statement
(2 of 2) It is also called a creed statement, a
statement of purpose, a statement of
philosophy, a statement of beliefs,
and a statement of business principles
Characteristics of a Mission
Statement (1 of 4)
• A good mission statement allows for the generation and
consideration of a range of feasible alternative objectives and
strategies without unduly stifling management creativity.
• A mission statement needs to be broad to reconcile differences
effectively among, and appeal to, an organization's diverse
stakeholders
Characteristics of a Mission
Statement (2 of 4)
• Stakeholders
• include employees, managers, stockholders, boards of
directors, customers, suppliers, distributors, creditors,
governments (local, state, federal, and foreign), unions,
competitors, environmental groups, and the general public.
Characteristics of a Mission
Statement (3 of 4)
• Broad in scope; does not include monetary amounts, numbers,
percentages, ratios, or objectives
• Fewer than 150 words in length
• Inspiring
• Identifies the utility of a firm’s products
• Reveals that the firm is socially responsible
• Reveals that the firm is environmentally responsible
Characteristics of a Mission
Statement (4 of 4)
• Includes nine components: customers, products or services,
markets, technology, concern for survival/growth/profits,
philosophy, self-concept, concern for public image, concern
for employees
• Reconciliatory
• Enduring
Insight on Scope of
Mission Statement
Mission statements are not designed to express concrete ends, but rather to
provide motivation, general direction, an image, a tone, and a philosophy to
guide the enterprise. An excess of detail could prove counterproductive since
concrete specification could be the base for rallying opposition; all in the firm
need to be onboard with the firm’s mission.
Consider these statements
Do not offer me clothes.
• Offer me attractive looks.

Do not offer me shoes.


• Offer me comfort for my feet and the pleasure of walking.

Do not offer me a house.


• Offer me security, comfort, and a place that is clean and happy.

Do not offer me books.


• Offer me hours of pleasure and the benefit of knowledge.

Do not offer me an album.


• Offer me leisure and the sound of music.
Consider these statements (cont’d)
Do not offer me tools.
• Offer me the benefits and the pleasure that come from making beautiful
things.

Do not offer me furniture.


• Offer me comfort and the quietness of a cozy place.

Do not offer me things.


• Offer me ideas, emotions, ambience, feelings, and benefits.
Importance of Vision and
Mission Statements

1. To make sure all employees/managers


understand the firm’s purpose or reason for
being.
2. To provide a basis for prioritization of key
internal and external factors utilized to
formulate feasible strategies.
3. To provide a basis for the allocation of
resources.
4. To provide a basis for organizing work,
departments, activities, and segments around
a common purpose.
Ten Benefits of Having a Clear
Mission and Vision
1. Achieve clarity of purpose among all managers and employees.
2. Provide a basis for all other strategic planning activities, including
internal and external assessment, establishing objectives, developing
strategies, choosing among alternative strategies, devising policies,
establishing organizational structure, allocating resources, and
evaluating performance.
3. Provide direction.
4. Provide a focal point for all stakeholders of the firm.
5. Resolve divergent views among managers.
6. Promote a sense of shared expectations among all managers and
employees.
7. Project a sense of worth and intent to all stakeholders.
8. Project an organized, motivated organization worthy of support.
9. Achieve higher organizational performance.
10. Achieve synergy among all managers and employees.
Developing Vision and Mission Statements

Common Steps:
1. Select several articles about these statements and ask
all managers to read these as background information.
2. Ask managers themselves to prepare a vision and
mission statement for the organization.
3. A facilitator or committee of top managers should then
merge these statements into a single document and
distribute the draft statements to all managers.
4. A request for modifications, additions, and deletions is
needed next, along with a meeting to revise the
document.
Mission Statement Components
1. Customers-Who are the firm’s customers?

2. Products or services-What are the firm’s major products or services?

3. Markets-Geographically, where does the firm compete?

4. Technology-Is the firm technologically current?

5. Survival, growth, and profitability-Is the firm committed to growth and


financial soundness?
6. Philosophy-What are the basic beliefs,
values, aspirations, and ethical priorities of the
firm?

Mission 7. Distinctive competence-What is the firm’s


major competitive advantage?

Statement 8. Public image-Is the firm responsive to

Components social, community, and environmental


concerns?

(cont’d) 9. Employees-Are employees a valuable asset


of the firm?
Class Discussion &
Activity
Analyzing
Mission
Statements
Hershey’s Mission Statement:
•We bring sweet moments (2) of
Hershey happiness (6) to the world (3)
every day.
What’s Missing?
Hershey’s Mission Statement:
We bring sweet moments (2) of Hershey happiness (6) to the
world (3) every day (12 words)

Statement lacks six components:


Customers (1), Technology (4), Survival/Growth/Profits (5), Distinctive
Competence (7), Public Image (8), and Employees (9)
Proposed Mission Statement for Hershey’s
• We aim to serve consumers of all ages and lifestyles (1)
by providing high-quality chocolate, candy, and snack
products (2) globally (3). We intend to grow and expand
our product offerings (5) using robotics and business
analytics (4). We are dedicated to supporting all
communities where we operate (8), especially to the boys
and girls in the Milton Hershey School (6). Through our
friendly and well-trained employees (9), we provide
consumers the best chocolate anywhere and wrapped in
Hershey Happiness (7). (73 words)
Example 2

Rite Aid
• We are on a mission to offer the best possible drugstore
experience for people of all ages (1) around the United States
(3). We have a state-of-the-art information system (4) that
provides our pharmacists (9) with warnings of any possible
drug interactions to help ensure better customer safety (8). We
are determined to improve our customers’ overall health
through our wellness programs (5). We offer an extensive line
of other beauty, food, drink, cosmetic, and vitamin products
through our alliance with GN C (2). We believe in treating our
customers like family (6) and strive to maintain our reputation
as the most personable drugstore (7). (88 words)
Example 3

United Parcel Service (UP S)


• We strive to be the most timely and dependable parcel
and freight forwarding delivery service (2) in the world (3).
By implementing the latest tracking technology (4), we
are able to profitably grow (5) by offering individuals and
businesses (1) dependable and accurate delivery times
(7). We promote from within to improve morale among all
employees (9). Our philosophy (6) is to responsibly
balance the needs of our customers, employees,
shareholders, and communities (8) in an exemplary
manner. (68 words)
Comparing Mission Statements
Figure 2.2
How to Gain and Sustain Competitive Advantages
Chapter 2 - Assignments

Group Exercise
• Compare AIIAS Vision & Mission Statements with a
competing HEI

Individual Exercise
• Create your own personal vision & mission statements
Questions?

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy