Chapter 2: the Business Vision and Mission

1258 Words6 Pages
Strategic Management Concepts & Cases
Fred R. David
8th edition

C
PowerPoint Slides By: Anthony F. Chelte Western New England College
Ch. 2-1 © 2001 Prentice Hall

OBJECTIVES OF THIS HAPTER
• Describe the nature and role of vision and mission statements in strategic management • Describe why mission statement is important • Identify the components of mission statements • Discuss how vision and mission statements can benefit strategic management activities • Evaluate mission statements of different organizations • Write good vision and mission statements
Ch. 2-2 © 2001 Prentice Hall

Comprehensive Strategic Management Model

External Audit

Vision & Mission Statements

Long-Term Objectives

Generate, Evaluate, Select
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2-15 © 2001 Prentice Hall

Reasons for Develop a Written Statements:
1. To ensure unanimity of purpose within the organization 2. To provide a basis, or standard, for allocating organizational resources 3. To establish a general tone or organizational climate 4. To serve as a focal point for individuals to identify with the organization 's purpose and direction 5. To facilitate the translation of objectives into a work structure involving the assignment of tasks to responsible elements within the organization 6. To specify organizational purposes and the translation of these purposes into objectives in such a way that cost, time, and performance parameters can be assessed and controlled.
Ch. 2-16 © 2001 Prentice Hall

Characteristics of a Mission
(Cont’d)
Effective mission statements:
• • • • • Broad in scope Generate range of feasible strategic alternatives Not excessively specific Reconcile interests among diverse stakeholders Finely balanced between specificity & generality

Ch. 2-17 © 2001 Prentice Hall

Characteristics of a Mission
(Cont’d)
Effective mission statements:
• Arouse positive feelings and emotions • Motivate readers to action • Generate the impression that firm is successful, has direction, and is worthy of time, support, and investment
Ch. 2-18 © 2001 Prentice Hall

Characteristics of a Mission
(Cont’d)
Effective mission statements:
• Reflect judgments : future growth • Provide

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