Companies And Organizations Of All Types All Face A Common Challenge

Besides the sole proprietorship after reading I learned about three basic types of business organizations known as limited liability (LLC), partnership, and corporation. Sole proprietorship is a “business owned and operated by a single person. The business has no separate legal existence from its owner.” (Rogers, 2012) In the textbook it said “Partnership is an association of two or more competent persons to carry on a business as co-owners for profit. The business itself is not a legal entity.” (Rogers, 2012) The law says competent means a partner having contractual capacity and a partnership where each partners simultaneously a principle and agent. You can partner up with a minor but be wise to emancipation or be cautions because minors can void partnership agreements. Partners of a business are owners and managers automatically unless specified otherwise by partners but according to the law they presume equal rights. “Note that while there can be unprofitable partnerships, there is no such thing as a nonprofit partnership. The partners must intend to make a profit.” (Rogers, 2012)

An organization without a clear vision only fails with organizational changes. Having a strategic vision is linked to competitive advantage, enhancing, organizational performance, and achieving sustained organizational growth (Palmer, Dunford, Akin, 2009, p.249). Mississippi Action for Progress

The vision, mission statement, and the company values help direct the company’s strategic plan. The vision statement provides the direction the company desires to head. By knowing where the organization wants to be in the future the strategic plan will be developed accordingly to the desired outcome. The mission statement tells the potential customers what the organization is all about and creates a snap shot of the organizational values. The strategic plan is formulated to provide the backbone of the mission statement. Finally the organizational values help keep the core values in

The ways in which the aims of this mission are going to be achieved will be specifically outlined in the vision statement provided. The importance of hitting our mark is paramount, for our children are our future, and making sure that they are successful, competitive citizens should be our highest concern.  Sometimes this process can be more challenging when put into practice.

Brigham and Lesson (2010) stated, “over the last three decades, the percentage of a company’s value attributable to tangible assets has dropped from 90% to just 25%.” However, intangible assets, reputation included, make up 40-60% of a business’s capitalization. An industry like Big Pharma relies heavily on its reputation. An organizations actions, choices, behaviors, and consequences will influence a stakeholder’s perception. This is a roundabout way for an organization to help determine its own reputation. Word of mouth, past experiences and media coverage will always influence reputation of corporations. In his article in Nature Biotechnology, Mark Kessel (2014) explains, “For companies in the pharmaceutical sector, how stakeholders view companies is influenced primarily by the lay professional media (through print, TV, radio and online) and the internet (blogs and social

According to Langeler, the company suffered many losses because they have failed with their vision (1992). They escalate their success generating their vision of “Beat Daisy” because it told the client that whatever Daisy was doing, they were doing it better and employees the urgency to succeed (Langeler, 1992). The failure with “Six Boxes” it was simply, but it was not powerful as it did not offer a solid ground for the organization. The company began to realize the power of their vision was not to be the to look like billion dollars company but to offers customers unlimited solutions making them

A vision statement focuses on where a firms intends to be in the future ahead and what it intends to become. It is a written statement of its services and attributes that will continue to be provided to its customers and stakeholders. “It is also important to note that vision statements reflect a firm’s values and aspirations and are intended to capture the heart and mind of each employee and, hopefully, many of its other stakeholders” (Hitt, Ireland & Hoskisson, 2013, p. 18). Both the mission and the vision statement summarize the aspirations, objectives and company goals. This is important information for stakeholders in order for them to determine the amount

Change has become necessary for every organisation there is. World is moving rapidly towards better technologies, efficient systems, new techniques, compact profits, different friendlier environments and organisations are always in the race to reach new heights by thriving effectively in this competitive environment (Kotter, 1996).

In an increasingly disintermediated information world, keeping a decent corporate reputation is more challenging than ever. The speed knowledge of spreads and our greater access to a wider media means "big bad news" easily gets to your phone in the space of your homeward journey (Grossman). Even though this is a nonprofit organization, it is run like a corporation. Just like a corporation, this organization has to keep up its image. Image management and finical performance have been closely related. Reputation is conceptualized by means of a two-dimensional

The Mission, Vision and Values of a company play a Fundamental role in Strategy Formulation and Strategic planning. We will discuss throughout this assignment, how developing effective mission, vision and values can help shape, develop and guide a firms Strategic choices. They reflect the firm's fundamental core ideology. At the most basic level a mission statement can describe the firms overall purpose for being. It provides an inside to the present business scope and purpose of the firm that is "who we are, what we do, and why we are here". It explains the firm's very reason for existing. It will

A company's vision is a "general statement of its intended direction that evokes emotional feelings in organization members." (Dessler, 2003). The mission statement determines the type of business it will be by setting the purpose for the company, and

David, F. (2013). The Business Vision and Mission.  Strategic Management. Pearson Education Retrieved from http://faculty.unlv.edu/amiller/BUS496/david%20_sm14_inppt02.ppt

One company that has been particularly successful in creating an overall company image in my option has been Starbucks. They have been able to maintain a dominant position in today’s market. Where in the morning most of our society needs a good cup of coffee in order to start their day. At one point, we looked at Starbucks as a high-end marketer. A sort of club to belong to. However, things managed to change in the recent years where a 4.00 cup of coffee was becoming a luxury items. This became known as the Coffee Wars. Starbuck had to now face competition from the fast food world. Which was McDonald’s and Dunkin’ Donuts. They started to look at this market as an opening to gain more customers. They started to offer their

The managerial task of developing a strategic vision for a company A. concerns deciding what approach the company should take to implement and execute its business model. B. entails coming up with a fairly specific answer to "who are we, what do we do, and why are we here?" C. is chiefly concerned with addressing what a company needs to do to successfully outcompete rivals in the marketplace. D involves deciding upon what strategic course a company should pursue in preparing for the future and . why this directional path makes good business sense. E. entails coming up with a persuasive storyline of how the company intends to make money.

Strategic visions become real only when the vision statement is imprinted in the minds of organization members and then translated into hard objectives and strategies.