STRATEGIC MANAGEMENT: VISION & MISSION (Chapter 2) Nurul Mazlina Binti…
STRATEGIC MANAGEMENT: VISION & MISSION (Chapter 2)
Nurul Mazlina Binti Mazlan (53212115006)
Example of Vision & Mission
Components of a Mission Statement
Concern for employees
Concern for public image
Concern for survival, growth, and profitability
Products or services
Importance of Vision and Mission Statements
Unanimity of purpose within the organization
Translate objectives into work structure
Focal point for direction
Basis for allocating resources
The Process of Developing a Mission Statement
Mission is important to have as broad a range of participation as possible among managers in developing the mission.
A clear mission is needed before alternative strategies can be formulated and implemented.
A vision statement is an organization's declaration of its mid-term and long-term goals.
A formal summary of the aims and values of a company, organization, or individual.
An effective statement to exhibit nine characteristics or components.