Question 1:- Contrast the following terms: a. Mission; Objective statements; competitive strategy b. Corporate strategic planning ; ISP c. Top-down planning; bottom-up planning d. Low-cost producer; product differentiation; product focus or niche Answer 1:- a. Mission Statement – A Mission statement is in general an action statement which is usually short ,simple and direct, capturing the essence of what your business or organization wants to accomplish and how. It is a declaration of an organization’s core purpose answering the question, “why do we exist?” and specific enough that employees & public will know, “this is what we do”, “what to expect from us” moreover “how we may differ from our competitors”. A mission is a very big, long-term end-result or achievement. There may be objectives, goals, strategies, executions and tactics all used to achieve the mission, but the mission is the biggest and most important thing to be accomplished. The mission statement serves as an update — to you, your representatives, and your clients — of the main purpose of your business. Objective Statement - Once an organization has developed its mission statement, its next step is to develop the specific objectives that are focused on achieving that mission. Each objective, or level, is separated by a series of stepping stones that the business must climb to reach each objective. The stepping stones are goals. The goals, unlike the mission statement, are actionable and measurable steps.
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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.
1. Mission and Vision Statement – Mission is a written declaration of the purpose of an organization and Vision is that business will accomplish in future years.
The mission defines the organization’s purpose, values, and core goals, providing the framework for all other plans. It is simple, vivid and compelling so that the employees from the janitor to the CEO, from the customers to investors can easily understand.
Most organization have develop an element called a mission statement. A mission statement describes and helps focus the attention of organizational members and external constituents on the organization's core purpose. This is use in the criminal justice and security agency use mission statement for the success of the organization and better serve the community or businesses that they have agree to serve and protect.
The mission statement is often publically stated and used by almost every organization today. It helps provide basic guidelines, essentially the core values of a company, and what they aim for. A mission statement gives customers
Mission, vision, values, and objectives are the essential part of developing an organization's strategy and are the glue that holds an organization together. A Mission Statement defines the organization's purpose and primary objectives ( Dunn 2010). Its prime function is internal and defines the key measures of the organization’s success (current nursing, 2010). Mission statements are the starting points of an organization’s strategic planning and goal setting process. They focus attention and assure that internal and external stakeholders understand what the organization is attempting to accomplish (Hofstrand, 2016).
This defines what a company will do to achieve its vision. It may include the company’s functions, goals and philosophies
I seek to educate individuals through my unique perspective in art concerning stereotypes within society, particularly the stereotypes associated with women of African American descent.
They must express objectives that can be tested -- there has to be some way to determine whether or not an organization is meeting its goals.
A mission statement is a writing that shows the path through which an organization will follow to achieve its objective. A well written mission statement would include the following:
The mission statement is a written document that an organization declares its core purpose. The mission statements defines the essence of the organizations needs and their core purpose of their existence. It describes the role that they play in the community and portrays the club’s image, charisma, and individuality. If the mission statement is written correctly it can provide an explanation to internal and external individuals on what the organization stands for. Some of the components that are key to the mission statement are members, product and service, market, technology and philosophy are just a few that should be in the mission statement. Without and effective mission statement to inspire your employees and members on why you exist it won’t mean anything to them. Here is an example of a mission statement from Kohl’s
Organizing the direction of a business or corporation is essential because it can increase profitability and provide broad guidelines for how to accomplish the organization goals. This is where a mission statement becomes useful. A mission statement should be short, concise, and to the point. Employees should be able to remember it and make it part of their everyday work culture.
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
On the other hand, mission statement is the reason why a company exists and it’s a statement that declares the core purpose of a company. Mission statement usually will remain the same over time (Bratianu, 2007). The mission is different from a vision as it aims to create competitive advantage and also achieve the social goal of a company (Bratianu, 2007).
A mission statement describes the objective of a company or an organization. It shortly defines the overall goal and clarifies why the company exists (Griffin,1990). A mission statement should indicate some core points..