Company 's Mission, Vision, And Primary Stakeholders On Its Overall Success

The Mission Statement is a vital component in the strategic planning of a business organization. Creating a mission is one of the first actions an organization should take. This can be a building block for an overall strategy and development of more specific functional strategies (Abrahams, 1995). By defining a mission an organization is making a statement of organizational purpose.

Vision and mission statements provide information about the organization. They appear in strategic and operational plans. How do you define vision and mission statements? How should they be developed and used?

Vision statement of a business is very imperative in summarizing the strategic path of the business. The vision of a business should summarize what precisely the business is encompassed in and what the business plan to develop into in future. The vision of the business should highlight what precisely the business plans to do for its shareholders. Summarizing I could say visions should be the communication approaches through which the business communicates with its workforces regarding the planned leadership of the business. Proverbs 29:18 states, “Where there is no prophetic vision the people cast off restraint, but blessed is he who keeps the law” (NKJ). In order for persons to perform well, individuals should know God’s practices and sustain his

Determine the impact of the company’s mission, vision, and primary stakeholders on its overall success.

This defines what a company will do to achieve its vision. It may include the company’s functions, goals and philosophies

Assess how the vision statement and mission statement of the corporation influence its overall success:

A vision is basically the target goal for the company’s future. After reading the Mystic Monk Case, I came to the conclusion that the vision for the company is to earn enough profit to be able to purchase a Ranch called Irma Lake. In the case study, Father Daniel Mary states his vision, “We beg your prayers, your friendship and your support that this vision, our vision may come to be that Mount Carmel may be refounded in Wyoming’s Rockies for the glory of God”. In this statement, the Irma Lake Ranch is located in what he refers to as the Wyoming Rockies. The mission statement essentially is what is happening in the company at that time

A well written vision statement will give aspirations about how we feel and think about the future of the company. The message conveys a powerful statement that is frequently used in communicating the organizations vision and dream. It builds a frame of mind and helps to envision in the minds of others. The statement defines a conclusion of the company’s best achievements to inspire and challenge their people.

Under Armour, Inc. is an American sports clothing and Accessories Company. The company is a supplier of sportswear and casual apparel. Under Armour began offering footwear in 2006.

It was in the year of 1962 that Mr. Sam Walton opened the first Wal-Mart store in Rogers, Arkansas. Within the next 10 years Wal-Mart stores grew and had already gone National with a total of 51 stores and grossed 78 million dollars in 1972. Fast-forwarding to 1980 Wal-Mart had grown to 276 stores with a total of 21,000 employees and had brought in 1 billion dollars. This was a great improvement; the company had grown so much by the year 1993 that it achieved sales of 1 billion dollars in one week. At the time the Wal-Mart totaled at 1,928 stores and 371,000 employees, including the Sams Club franchise. (Corporate.walmart.com, 2014) Now Wal-Mart has almost anything that one could possibly want within a

Vision and mission statements provide information about the organization. They appear in strategic and operational plans. How do you define vision and mission statements? How should they be developed and used?

To define or measure success, firstly the organisational purpose must be decided. The purpose of a company is not always to become more profitable. Profit provides the organisation with the capability to compensate stakeholder’s expectations. As the corporations operates within society it should be also be concerned with societal issues and become more social responsible. Many argue that, financial success of an organisation benefits society, by providing new placements, upgrading the status of the area they operate and paying more taxes accordingly to their profit. As Milton Friedman argues, the purpose of an organisation is to maximize profit, and through the company’s financial success show social responsibility, as society can also be benefit from it. Therefore employees should focus their efforts according to the owners’ interests and not acting in the interest of someone other like society.

It should sum up and reflect what your business is all about and is used to provide a defined path and guide decision making. A vision is different to a mission statement in that it is future-focused and meant to inspire and give direction to the employees of the organisation. Elaine J. Hom (2013) clarifies that a mission statement explains “Why does my business exist?” while a vision explains “Where do I see my business going?”

A business is an organization that produces products or offer services in order to exchange for money. The ultimate goal of stakeholders in a company is to make profit as much as possible. Stakeholders could be internal such as owners, employees or external such as customers and society. There are certain functions within a company such as marketing, production, accounting, and finance, but there are no one-size-fits-all procedure for a company to follow and be successful. For a company to operate and reach profit, it requires its own set of guidelines established by managers or directors (Foundation Business Fundamentals Text, p13). Managers or directors must be capable to lead fairly and with a wide vision, negotiate with customers, communicate and convince the stakeholders, and finally be a figurehead to enforce mission and vision of the organization 2.

To create wealth for all our stakeholders by building highly successful businesses based on a customer-centric approach, and to contribute to the