Vision and Mission

745 WordsJan 11, 20153 Pages
2.1 Vision and Mission Vision and mission statements summarize strategy of a company in a form that can be communicate and understand easily by management and stockholder. A vision statement should not be confused with mission statement as both statements taking part in two distinctive aspects. As indicated in the strategic management model, vision and mission are indispensable. A vision statement describes as a blueprint of what an organization sees itself to be in the future. Therefore, a vision statement must able to answer the question, “What do we want to become?” because main function of vision statement is to communicate to the stakeholder where the organization desires and aspires to be. Generally an effective vision statement…show more content…
Products or services Products or services are the main business activity of a firm. Products and services can be tangible or intangible in form; offering for sale to the market in order to satisfy a need, want or demand. As such, the firm must clearly describes the types of products it offered or ranges of services it rendered to its customers. 3. Markets Market is a place where buyers and sellers transact goods and services for a monetary value. The organization has to define its place of business and operations geographically, so that customers know how to get access to the organization. 4. Technology The advancement of technology has altered the way businesses are conducted in the world today. Therefore, the organization has to address the question of whether the firm is using cutting-edge technology, environmental friendly technology or obsolete technology in conducting its business. 5. Concern for survival, growth and profitability It is undeniable that the primary corporate driver is profit. As such, the firm must exhibit a commitment towards achieving sound and healthy financial position, ensuring potential ability for future growthand maintaining the sustainability of a business environment. 6. Philosophy Theorganization also has to lay down the core values, beliefs, ethical priorities and fundamental principles thatshape the underlying foundation and culture of an organization. This element sends a message to its stakeholders

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