Vision and Mission

Strategic Management

Vision versus Mission

What

Do W

e Wan

t to Bec

ome?

Wha

t Is

Our

Bus

ines

s?

Mohamed Mousa

Agenda

1 •Describe the vision and mission statements

2 •The process of developing a mission statement

3 •Components of mission statements.

4 •Benefits of Having a Clear Mission and Vision

5 •Evaluate mission statements of different organizations

Input into developing

Important for managers and executivesShould be short

Prefe

rably o

ne sentence

VISION

1. What Do We Want to Become?

General Motors

Is to be the world leader in transportation products and related services.

Long

Ter

m

Work assignm

ents

Plans

Formulating st

rategiesEstablishing objectives Design of managerial jobs

Foun

dation

for p

rioriti

es

Rea

son

fo

r b

ein

g

1. What Is Our Business?

Mission

Procter & Gamble

will provide branded products and services of superior quality and value that improve the lives of the world’s consumers. As a result, consumers will reward us with industry leadership in sales, profit, and value creation, allowing our people our shareholders, and the communities in which we live and work.

2. The Process of Developing Vision and Mission Statements

3. Prepare a vision and mission statement

2. Background information.

1. Alternative strategies

4 .Merge into single document

5. Final documents

1. Clear vision and mission statements are needed before alternative strategies can be implemented.

2. Select several articles about these statements and ask all managers to read these as background information.

3. Ask managers themselves to prepare a vision and mission statement for the organization.

4. Merge these statements into a single document and distribute the draft statements to all managers.

5. Extent that all managers have input into and support the final documents, organizations can more easily obtain managers

3. Mission Statement Components

Customers - Who are the firm’s customers?

Products or services - What are the firm’s major products or services?

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?

4. Benefits of Having a Clear Mission and Vision

1. Achieve clarity of purpose among all managers and employees.

2. Provide a basis for all other strategic planning activities.

3. Provide direction.

4. Provide a focal point for all stakeholders of the firm.

5. Resolve conflict views between managers.

6. Promote a sense of shared expectations among all managers and employees.7. Project a sense of worth and intent to all stakeholders.

8. Project an organized, motivated organization worthy of support.

9. Achieve higher organizational performance.

10. Achieve synergy among all managers and employees

5. Evaluate mission statements of different organizations

Procter & Gamble will provide branded products and services of superior quality and value (7) that improve the lives of the world’s (3) consumers. As a result, consumers (1) will reward us with industry leadership in sales, profit (5), and value creation, allowing ourpeople (9), our shareholders, and the communities (8) in which we live and work to prosper.

(Author comment: Statement lacks three components: Products/Services, Technology, and Philosophy)

We aspire to make PepsiCo the world’s (3) premier consumer products company, focused on convenient foods and beverages (2). We seek to produce healthy financial rewards for investors (5) as we provide opportunities for growth and enrichment to our employees(9), our business partners and the communities (8) in which we operate. And in everything we do, we strive to act with honesty, openness, fairness and integrity (6).

(Author comment: Statement lacks three components: Customers, Technology, and Self-Concept)

Thank You