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Chapter 2 The Business Vision & Mission - Coggle Diagram
Chapter 2
The Business Vision & Mission
Vision & Mission
Benefits
Treats them as living documents
Considers them to be an integral part of the firm’s culture.
Systematically revisits their vision and mission statement.
Profit & vision are necessary to effectively motivate a workforce. :!!:
Resolution of Divergent Views
A
genuine
decision
must
be based
on divergent views.
Considerable
disagreement
over
vision
and
mission
statements can cause
trouble
:fire:
Helps to
Provide unity of direction
Promote shared expectations
Consolidate values
Project a sense of worth and intent
Affirm the company’s commitment to responsible action
Vision
Shared vision
creates
a community of
interests
:no_entry:
Mission
Reveals
whom we want to serve
what the organization wants to be
Mission Statement
A declaration of an organization’s “reason for being”
An enduring statement of purpose that distinguishes one organization from other.
Answers
“What is our business?”
A clear mission is
needed before alternative strategies
can be formulated and implemented.
Benefits
Resource allocation
Establishment of culture
Unanimity of purpose
Focal point for individuals
Better financial results
Establishment of work structure
Basis of assessment and control
Resolution of divergent views
Effective mission leads to:
Anticipates customer needs
Identifies customer needs
Provides product/service to satisfy needs
Identifies the utility of a firm’s products to its customers
Participation
by as many
managers
as possible is important in
developing
the mission.
Mission Components
Survival, Growth, Profits
Philosophy
Technology
Self-Concept
Markets
Public Image
Products or Services
Employees
Customers
