Download Strategic Management- Vision Mission

STRATEGIC MANAGEMENT
FORMULATING THE VISION, MISSION, AND
VALUES
VISION and MISSION
The vision and mission provide a framework for all stakeholders
(employees, current and prospective customers, current and
prospective investors, even the public) to delineate the
organization’s strategic course and purpose. The vision and
mission should be:
•Broad
•Distinct, direct, and specific (to the organization)
•Real and meaningful
•Motivational
•Translatable into goals and objectives
•Indicative of organizational values
•Clear as to identity, purpose, and reason for being and
•Linked
ORGANIZATIONAL VISION
Agreement on the vision for which the organization strives to
achieve in the long run is critically important to its success. It
focuses upon:
•What/who the organization aspires to become
•Commonality of interests
•The purpose of daily challenge! Motivation! Action!
•Opportunity
•Reasonable and feasible
•A strategic course and long-term direction
•Clarity and easy to remember
ORGANIZATIONAL VISION
The payoff for a clear statement of vision:
•Clarifies the perception of direction (from top to bottom of
the organization)
•Works as a common guide for decision-making
•Serves as a tool to support change
•Guides functional level planning
•Offers insight into the future and preparations necessary to
achieve long-term goals
EXAMPLES OF VISION STATEMENTS
Good vision statements are:

graphic

focused

flexible

feasible and

memorable
Our vision serves as the framework for our roadmap and guides
every aspect of our business by describing what we need to
accomplish in order to continue achieving sustainable, quality,
and growth. This is done through our:
•People – Be a great place to work.
•Portfolio – Bring to the world a portfolio of quality beverage
brands.
•Partners – Nurture a winning network of customers, and
suppliers to achieve enduring value.
•Planet – Be a responsible citizen that makes a difference by
helping build and support sustainable communities.
•Profit – Maximum long-term return to shareholders.
•Productivity – Be a highly effective, lean, and fast-moving
organization.
TULIP GROVE BAPTIST CHURCH
(A Nonprofit Organization)
The Vision of Tulip Grove Baptist Church is to be the people
of God, on mission with God, motivated by a love for God, and a
love for others.
U.S. GEOLOGICAL SURVEY (USGS)
(A U.S. Government Agency)
The Vision of USGS is to be a world leader in the natural
sciences through our scientific excellence and responsiveness to
society’s needs.
ORGANIZATIONAL MISSION
Whereas the vision statement defines the future strategic course
of an organization, i.e. its direction and aspirations for the future,
the mission statement specifies the organization’s current
business and purpose. It focuses upon:
•Who we are
•What we do
•Who we do it for
•Why we are here
*90% of all companies have used a mission statement in the
previous five years (Prentice-Hall, 2007).
ORGANIZATIONAL MISSION
The payoff for a clear statement of mission:
•Identifies the organization’s products and services
•Specifies the buyer’s needs and wants it seeks to satisfy
•Identifies the customer groups and/or markets it endeavors
to serve
•Specifies the approach to pleasing customers
•Gives the organization its own identity (differentiates and
positions)
•Reconcile the interests among diverse stakeholders
•A lead-in to setting of goals and objectives
•Generate strategic alternatives
•Support the image of the organization
ORGANIZATIONAL MISSON
Good mission statements are:
•Clear
•Concise (but broad in scope)
•Short
•Easy to understand
•Focused
•Memorable
•Motivators!
Dell’s mission is to be the most successful computer company in
the world at delivering the best customer service in markets we
serve. In doing so, Dell will meet customer expectations of:
•Highest quality
•Leading technology
•Competitive pricing
•Accountability
•Best in class service and support
•Flexible customization capability
•Superior corporate citizenship
•Financial stability
TARRANT COUNTY ASSOCIATION FOR THE BLIND
(A Nonprofit Organization)
The mission of Lighthouse for the Blind of Fort Worth, a nonprofit
organization, is to provide services to assist legally and totally
blind individuals to achieve their highest level of personal and
economic self-sufficiency consistent with their specific skills,
general abilities and interests.
U.S. Department of Interior (DOI)
(A U.S. Government Agency)
Our Mission is:
Protecting America’s Great Outdoors and Powering Our Future
The U.S. Department of the Interior protects America’s natural
resources and heritage, honors our cultures and tribal
communities, and supplies the energy to power our future.
LINKING VISION AND MISSION
TO
ORGANIZATIONAL CORE VALUES
The core values of the organization relate to:
•Beliefs;
•Traits;
•Behavioral norms.
CORE VALUES
Core values flow from and are supported by the vision and
mission of the organization. Vision and mission statements refer
to these core values as they portray (among others):
•Fair treatment of stakeholders (employees, customers, investors)
•Shareholder value
•Integrity
•Ethical behavior
•Diversity
•Innovation
•Trust
•Quality
•Customer service
•Relationships
•Social responsibility
•Community citizenship
CORE VALUES
Smart leaders are committed to a corporate culture that supports
and encourages the desired beliefs, traits, and behavioral norms
that characterize the values of organization. They ensure that
the vision, mission, and ensuing strategy is continually crafted to
match these values as they link and work together to achieve
organizational success.