Chapter 2

A vision statement should answer the basic question,

"What do we want to become?"

Mission Statement Components

1. Customers 2. Products or services 3. Markets 4. Technology 5. concern for survival, growth and profitability 6.philospophy 7.self concept 8. concern for public image 9. concern for employees

The Process of Developing Vision and Mission Statements

Select several articles about these statements and ask all managers to read these as background information. Ask managers themselves to prepare a vision and mission statement for the organization. Merge these statements into a single document and distribute the draft statements to all managers Process should create an "emotional bond" and "sense of mission" between the organization and its employees

Mission statement

a declaration of an organization's "reason for being." answers the pivotal question "What is our business?" essential for effectively establishing objectives and formulating strategies

The vision statement

should be short, preferably one sentence, and as many managers as possible should have input into developing the statement.

Importance of Vision and Mission Statements

1. To ensure unanimity of purpose within the organization 2. To provide a basis, or standard, for allocating organizational resources 3. To establish a general tone or organizational climate 4. To serve as a focal point for individuals to identify with the organization's purpose and direction 5. To facilitate the translation of objectives into a work structure 6. To specify organizational purposes

Characteristics of a Mission Statement

allows for the generation and consideration of a range of feasible alternative objectives and strategies without unduly stifling management creativity. allows for the generation and consideration of a range of feasible alternative objectives and strategies without unduly stifling management creativity. Stakeholders include employees, managers, stockholders, boards of directors, customers, suppliers,

Mission statement reveals what

an organization wants to be and whom it wants to serve Also called a creed statement, a statement of purpose, a statement of philosophy, a statement of beliefs, and a statement of business principles

Shared vision

creates a commonality of interests that can lift workers out of the monotony of daily work and put them into a new world of opportunity and challenge

A mission statement should

define what the organization is and what the organization aspires to be be limited enough to exclude some ventures and broad enough to allow for creative growth distinguish a given organization from all others