ADVANCED STRATEGIC MANAGEMENT Chapter Three The

Transcript:ADVANCED STRATEGIC MANAGEMENT Chapter Three The:
ADVANCED STRATEGIC MANAGEMENT Chapter Three The Business Vision and Mission Statements By: Y.H November, 2019 Debre Tabor, Ethiopia 1 Contents 3.1 The Nature of Business Vision and Mission 3.2. Components of A Mission Statement 3.3. The Importance of a Clear Vision & Mission 2 3.1. The Nature of Vision & Mission Statements Vision statement “Vision refers to the goals that are broadest, most general and all‐inclusive. A vision describes aspirations for the future without specifying the means necessary to achieve those desired ends”. Alex miller In short “vision is the desired future state.” which answer the question of what do we want to become? Notable Quotes on Vision and Mission Statements "A Business Is Not Defined By Its Name, Statutes, Or Articles Of Incorporation. It Is Defined By The Business Mission. Only A Clear Definition Of The Mission And Purpose Of The Organization Makes Possible Clear And Realistic Business Objectives." —Peter Drucker "A Corporate Vision Can Focus, Direct, Motivate, Unify, and Even Excite A Business Into Superior Performance. The Job of A Strategist Is To Identify and Project a Clear Vision.“ —John Keane Cont’d…… A clear vision provides the foundation for developing a comprehensive mission statement. Many organizations have both a vision and mission statement, but the vision statement should be established first and foremost. The vision statement should be short, preferably one sentence, and as many managers as possible should have input into developing the statement. Several example vision statements Mission Statement Organizations exist because they perform an important function for members of the society. They define the role they wish to play in terms of a mission statement. It answer the question of What Is Our Business? It distinguishes one organization from other similar enterprises; the mission statement is a declaration of an organization’s reason for being. A business mission is the foundation for priorities, strategies, plans, and work assignments. Cont’d…… Mission statement sometimes called a creed statement, a statement of purpose, a statement of philosophy, a statement of beliefs, a statement of business principles, or a statement defining our business,´ a mission statement reveals what an organization wants to be and whom it wants to serve. Characteristics of a Mission Statement It should be feasible: it should always aim high but it should not be an impossible statement. It should be realistic and achievable. It should be precise: it should not be so narrow as to restrict