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The Business Mission and Vision

Chapter 2 (business policy)
by

nicole ocampo

on 11 December 2012

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Transcript of The Business Mission and Vision

Chapter 2 What is a Mission? What do we want to become? Comprehensive
Strategic-Management Model Process of
Developing Vision
and
Mission Statement Then ask managers themselves to prepare a vision and mission statement for the organization. Mission
&
Vision What is our business? What do we want to be? A request for modification addition and deletion is needed next along with a meeting to revise the document. A facilitator, or committee of top managers, should then merge these statement into a single document and distribute the draft statement to all managers. Select several articles about vision and mission statement and ask all managers to read these as background information. Business Bart and Baetz King and Cleland Important
(Benefits)
of Vision and
Mission Statement Rarick and Vitton A Resolution of Divergent Views Twice the average
return on shareholder’s
equity. 30% higher return on certain financial measures. To ensure unanimity of purpose within the organization. To provide a basis,
or standard,
for allocating
organizational resources. To establish a general tone or organizational climate. To serve as a focal point for individuals to identify with the organization’s purpose and direction, and to deter those who cannot from participating further in the organization’s activities. To facilitate the translation of objectives into a work structure involving the assignment of tasks to responsible elements within the organization. To specify organizational purposes and then to translate these purposes into objectives in such a way that cost, time, and performance parameters can be assessed and controlled. It is always a high risk decision. Developing a business mission is a big step toward management effectiveness. Benefit of developing a comprehensive statement. The most important time to ask "What do we want to become? And what is our business?" is when a company become SUCCESSFUL. Peter Drucker A Declaration
of Attitude A Customer
Orientation Characteristics
of
Mission Statement Is more than a statements of specific details 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 effectively reconcile differences among and appeal to an organization's diverse stakeholders, the individuals and groups of persons who have a special stake or claim on the
company. Reflects the anticipation of customers Should define what the organization is and what the organizations aspires to be Good
Mission
Statement Describes an organization’s Purpose
Customers
Products or services
Markets
Philosophy
Basic technology Should be limited enough to exclude some ventures and broad enough to allow for 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 10 Benefits of Having a Clear Mission and Vision Achieve clarity of purpose among all managers and employees Promote a sense of shared expectations among all managers and employees Project a sense of worth and intent to all stakeholders Project an organized, motivated organization worthy of support Achieve higher organizational performance Provide focal point for all stakeholders of the firm Achieve synergy among all managers and employees Resolve divergent views among managers Mission Statement Provide a Basis for all other Strategic Planning Activities Allocating resources Developing strategies Internal and external assessment Devising policies Establishing organizational structure Choosing among alternative strategies Evaluating performance Establishing objectives Identify The Utility Of Firm’s Products To Its Customers AT&T (communication) ExxonMobil (energy) Universal Pacific (transportation) Universal Studio (entertainment) Utility Statements Do not offer me tools. Offer me the benefits and the pleasure that come from beautiful things. Do not offer me shoes. Offer me comfort for my feet and the pleasure of walking. Do not offer me things. Do not offer me books. Offer me pleasure and the benefit of knowledge. Do not offer me CDs. Offer me leisure and sound of music. Do not offer me house. Offer me security, comfort, and a place that is clean and happy. Do not offer me furniture. Offer me comfort and the quietness of a cozy place. Do not offer me clothes. Offer me attractive looks. Essential Components of a Mission Statement Concern
for employees Technology Products or services Self-concept Concern for public image Concern for survival, growth, and profitability Customers Markets Philosophy The Wachovia Corporation To recruit, develop, motivate, reward, and retain personnel of exceptional ability, character, and dedication by providing good working conditions, superior leadership, compensation on the basis of performance, an attractive benefit program, opportunity for growth, and a high degree of employment security. Dow Chemical To share the world’s obligation for the protection of the environment. Crown Zellerbach Crown Zellerbach is committed to leapfrogging ongoing competition within 1000 days by unleashing the constructive and creative abilities and energies of its employees. Kellogg Our world-class leadership is dedicated to a management philosophy that holds people above profit. Hoover Universal RJ Reynolds We will continually strive to meet the preferences of adult smokers by developing technologies that have the potential to reduce the health risks associated with smoking. Corning Glass Works We are dedicated to the total success of Corning Glass Works as a worldwide competitor. Standard Oil Company Standard Oil Company (Indiana) is in the business to find and produce crude oil, natural gas, and natural gas liquid; to manufacture high quality products useful to society from these raw materials; and to distribute and market those products and to provide dependable related services to the consuming public at a reasonable prices. We believe our first responsibility is to the doctors, nurses, patients, and all others who use our products and services. Who are the firm’s customers? What are the firm’s major products or services? Geographically, where does the firm operate? Is the firm technologically current? Is the firm committed to growth and financial soundness? What are the basic beliefs, values, aspirations, and ethical priorities of the firm? What is the firm's distinctive competence or major competitive advantage? Is the firm responsive to social, community, and environmental concerns? Are employees a valuable asset of the firm? Johnson
& Johnson Corning Glass Works In its respect, the company will conduct its operations prudently and provide the profits and growth which will assures Hoover’s ultimate success. PepsiCo’s mission is to increase the value of our shareholders’ investment. We do this through sales growth, cost controls, and wise investment resources. We believe our commercial success depends upon offering quality and value to our consumers and customers; providing products that are safe, wholesome, economically efficient and environmentally sound; and providing a fair return to our investors while adhering to the highest standards of integrity. PepsiCo Evaluation Matrix of Mission Statements Customer Yes Concern for Public Image No Concern for Employees No Concern for Survival, Growth, Profitability Yes Products or Services No Self-Concept Yes Philosophy Yes Technology No Markets No Mission
& Vission End of Presentation Provide a basis for all other strategic planning activities Provide direction
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