Importance of Mission, Vision, and Strategy for an Organization

802 Words3 Pages
Mission, Vision, and Strategy Qs 1) A company's vision must be the guiding force behind all of its actions if it is going to be truly successful, and thus the vision guides the mission (Verardo, 1997). The mission, meanwhile, must be designed and carried out to achieve the company's objectives, and specific tactics must be defined to carry out these objectives (Verardo, 1997). In this way, a company's vision is ultimately achieved trough its tactics through a series of interconnected steps. 2) Strategic planning does not simply require straightforward knowledge and analysis there is not a rulebook that says "in situation x, do y" and thus creative thinking is very important. Creative thinking allows a group or individual to come up with innovative strategies that deal with ever-changing situations. Encouraging creative thinking in strategic planning can be encouraged through brainstorming sessions and other activities (Verardo, 1997). 3) Strategic management means managing a company's resources and capabilities in a way that purposefully and efficiently tries to reach the goals and objectives of the company (Verardo, 1997). Determining and remaining aware of a company's Core Competency will help align strategy and provide a measure and a means of guidance for the strategic management of the company. 4) In a negative cycle, competition might drive down quality as companies compete for price consumers will go for the cheaper alternative that meets their needs, generally
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