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THE BUSINESS VISSION AND MISSION - Coggle Diagram
THE BUSINESS VISSION AND MISSION
Mission Statement
:pencil2: a declaration of an organization's "reason for being"
:pencil2: answers the essential question "what is our business?"
:pencil2: essential for effectively establishing objectives and formulating strategies
What is business mission?
A business mission describes the organization’s basic function in society, in terms of the products and services it produces for its customers
Vision Statement
:pencil2: short
:pencil2: preferably one sentence
:pencil2: should have input into developing the statement
Importance of Vision and Mission Statement
To ensure unanimity of purpose within the organization
To provide a basis, or standard, for allocating organizational resources
To establish a general tone or organizational climate
To serve as a focal point for individuals to identify with the organization’s purpose and direction
To facilitate the translation of objectives into a work structure
To specify organizational purposes
Characteristic of Mission Statement
:star: less than 250 words in words
:star: inspiring
:star: reveal that the firm is socially responsible
:star: reveal that the firm is environmentally responsible
:star: reconciliatory
:star: enduring