Vision and Mission Analysis

Descripción

Strategic Management
Syarina Nabila Mohd Salleh
Mapa Mental por Syarina Nabila Mohd Salleh, actualizado hace más de 1 año
Syarina Nabila Mohd Salleh
Creado por Syarina Nabila Mohd Salleh hace más de 3 años
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Resumen del Recurso

Vision and Mission Analysis
  1. Vision Statement
    1. “What do we want to become?”
      1. The vision statement should be short, preferably one sentence, and as many managers as possible should have input into developing the statement. The vision statement should reveal the type of business the firm engages.
        1. EXAMPLES
          1. General Motors’ vision is to be the world leader in transportation products and related services. (Author comment: Good statement)  PepsiCo’s responsibility is to continually improve all aspects of the world in which we operate—environment, social, economic—creating a better tomorrow than today. (Author comment: Statement is too vague; it should reveal how the firm’s food and beverage business benefits people)
        2. Mission Statement
          1. A declaration of an organization's “reason for being.”  It answers the pivotal question “What is our business?”  It is essential for effectively establishing objectives and formulating strategies.  It reveals what an organization wants to be and whom it wants to serve
          2. Developing Vision &Mission Statements
            1. A widely used approach includes:  Select several articles about these statements and ask all managers to read these as background information.  Ask managers themselves to prepare a vision and mission statement for the organization.  A facilitator or committee of top managers should then merge these statements into a single document and distribute the draft statements to all managers.  A request for modifications, additions, and deletions is needed next, along with a meeting to revise the document.
            2. Importance of Vision and Mission Statements
              1.  To make sure all employees/managers understand the firm’s purpose or reason for being.  To provide a basis for prioritization of key internal and external factors utilized to formulate feasible strategies.  To provide a basis for the allocation of resources.  To provide a basis for organizing work, departments, activities, and segments around a common purpose.
              2. Benefits of Having a Clear Mission and Vision
                1. Characteristics of a Mission Statement
                  1. 1. Broad in scope; does not include monetary amounts, numbers, percentages, ratios, or objectives 2. Fewer than 150 words in length 3. Inspiring 4. Identifies the utility of a firm’s products 5. Reveals that the firm is socially responsible 6. Reveals that the firm is environmentally responsible 7. Includes nine components: customers, products or services, markets, technology, concern for survival/growth/profits, philosophy, self-concept, concern for public image, concern for employees 8. Reconciliatory 9. Enduring
                  2. A Customer Orientation
                    1. A mission statement should:  define what the organization is and what the organization aspires to be  be limited enough to exclude some ventures and broad enough to allow for creative growth  distinguish a given organization from all others.  serve as a framework for evaluating both current and prospective activities  be stated in terms sufficiently clear to be widely understood throughout the organization
                    2. Considerations
                      1.  Do not offer me things.  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 CDs. Offer me leisure and the sound of music.
                        1.  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.  Please, do not offer me things.
                        2. Mission Statement Components
                          1. 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?
                            1. 6. Philosophy—What are the basic beliefs, values, aspirations, and ethical priorities of the firm? 7. Self-concept (distinctive competence)—What is the firm’s major competitive advantage? 8. Public image—Is the firm responsive to social, community, and environmental concerns? 9. Employees—Are employees a valuable asset of the firm?
                            2. Example Mission Statements
                              1. PepsiCo  We aspire to make PepsiCo the world’s (3) premier consumer products company, focused on convenient foods and beverages (2). We seek to produce healthy financial rewards for investors (5) as we provide opportunities for growth and enrichment to our employees (9), our business partners and the communities (8) in which we operate. And in everything we do, we strive to act with honesty, openness, fairness and integrity (6).  Author comment: Statement lacks three components: Customers (1), Technology (4), and Distinctive Competence (7); 62 words
                              2. Exemplary Proposed Mission Statement
                                1. Avon  Our mission is to provide women (1) quality fragrances, cosmetics, and jewelry (2) at reasonable prices backed by outstanding customer service provided by our thousands of door-to-door sales representatives (7, 9) operating globally (3). We use the latest technology (4) to profitably develop and market products desired by women all over the world (5). Avon representatives put integrity first (6) in setting a good example in every community (8) they operate—as they sell beauty. (58 words)

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