components of a mission statement.
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The given are the components of a mission statement. Please explain each briefly.
-Customers: Who are the firm’ s customers?
-Products or services: What are the firm’ s major products?
-Markets: Geographically, where does the firm compete?
-Technology: Is the firm technologically current?
-Concern for survival, growth, and profitability: Is the firm committed to growth and financial soundness?
-Philosophy: What are the basic beliefs, values, aspirations, and ethical priorities of the firm?
-Self-concept: What is the firm’ s distinctive competence or major competitive advantage?
-Concern for public image: Is the firm responsive to social, community, and environmental concerns?
-Concern for employees: Are employees a valuable asset of the firm?
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- Indicate yes or no whether the following components contains in the mission statement (1st column). Evaluate a mission statement using the following: Write the excerpt stating the components from the current mission statement. Re-state the excerpt from the Mission Statement that you think needs improvement or addition from the analysis MISSION STATEMENT To serve great tasting food, bringing the joy of eating to everyone Components Yes / No Excerpts from Mission Statement Re-statement 1. Customers 2. Products / Services 3. Markets (Geographically, where does the firm compete? 4. Technology (Is the firm technologically current?) 5. Concern for survival (Is the firm committed to growth and financial soundness?) 6. Philosophy (What are the basic beliefs, values, aspirations & ethical priorities?) 7. Self - Concept (What are the firm’s distinctive…critique the adequacy and merit of the following vision statements, listing effective elements and shortcomings. Rank the vision statement from best to worst once you complete your evaluation. Be sure to see the class handouts on this topic first. Vision Statement Effective Elements Shortcomings Wells Fargo We want to satisfy all of our customers’ financial needs, help them succeed financially, be the premier provider of financial services in every one of our markets, and be known as one of America’s great companies. Hilton Hotels Corporation Our vision is to be the first choice of the world’s travelers. Hilton intends to build on the rich heritage and strength of our brands by: • Consistently delighting our customers. • Investing in our team members. • Delivering innovative products and services. • Continuously improving performances • Increasing shareholder value. • Creating a culture of prides, • Strengthening the loyalty of our constituents.…The following are two poorly written mission statements: 1. “Be the best in the eyes of our customers, employees and shareholders.”Our mission is to be the best in the eyes of our customers, employees andshareholders by offering hair care products that are unique to 4c natural hair. 2. “Undisputed marketplace leadership.” (a) Please provide a critique of the two mission statements and (b) Rewrite them by including the key elements of a good mission statement.
- 2 Using Chapter 2 and Appendix A as guides, focus your marketing plan by (a) writing your mission statement in 25 words or less, (b) listing three non- financial goals and three financial goals, (c) writ- ing your competitive advantage in 35 words or less, and (d) creating a SWOT analysis table.Which industry for which you are considering developing a strategic plan? What industry are you currently working in? Same as above or some other? If it’s different, please identify the one that you’re currently working in. Mission (Purpose of the company, and what the company strives to do) Vision (Desired future achievements and state it wants to be in) Values (How employees should conduct themselves and their business to achieve the mission) Establish Major Goals (Goal – be precise and make sure those are measurable goals)Write two to four sentences setting forth the long-term direction and strategic path that management intends to follow. The statement should clearly articulate your answer to "Where we are headed?" and should explain why the direction in which you intend to point the company makes good business sense. Your strategic vision statement should describe the kind of company that management is trying to create and the market position you are trying to stake out. You may want to summarize the essence of your strategic vision with a phrase or company slogan.
- a corporate mission statement is vital to the success of an enterprise because it lays out what it values in concise terms. Is there value in a personal mission statement, and if so, what would yours containIdentify who or who is responsible for the strategic leadership of an organization and mention the five key areas in an organization. Explain what a strategic vision is and what is its importance in the company. Provide an example of a company vision. Explain what a mission statement is and what is its importance in the company. Provide an example of a company mission statement.Explain what a strategic vision is and what is its importance in the company. Provide an example of a company vision. Explain what a mission statement is and what is its importance in the company. Provide an example of a company mission statement.
- describe a robotics robot Company's Mission, Vison, Product development, Team, and include Marketing and Financial Plan for the next 3 years. Please provide your critical analysis of the company’s activities and in-depth arguments to support your statements.What is a mission statement, and how should a firm define its business mission? Give examples to illustrate a good and bad mission statement.Vision – is a more realistic overview of the company’s aim and ambition. Why does the company exist? What does it aim to achieve through its existence? Select one: True False