GROUP EXERCISES

Investigating Corporate Mission and Vision Statements

Introduction: The overall purpose of this exercise is to enhance students understanding about the value of creating mission and vision statements and the need to create organizational goals in support of these statements. Students use the internet in this exercise to focus on General Electrics mission, vision, and corporate goals. Slides For This Exercise: 1. 2. 3. 4. 5. 6. Investigating Corporate Mission and Vision Statements Objectives Instructions Mission statements defined Vision statements defined Goals defined

Objectives: (see slide 2) 1. To explore the value of creating an organizational mission statement, vision statement, and supporting goals. Instructions: (see slide 3) 1. Be sure to define mission, vision, and corporate goals before using this assignment as an exercise. See definitions in Lecturette: Investigating Corporate Mission and Vision Statements and slides 4-6. 2. Give students the assignment of referring to General Electrics web page: www.GE.com. You may want to give students the option of searching on any number of firms that may be interesting to you or them. We recommend GE for this exercise because their website contains the information needed to complete this exercise and its a well known company. 3. Ask students to print GEs mission statement, vision statement, and corporate goals. If you use companies beside GE, tell your students that many companies include their corporate goals in annual reports. For GE, tell your students that the Our Company section of the website is valuable for completing this exercise. There also is a link to Key Growth Initiatives which is helpful for determining GEs vision and corporate goals. 4. Facilitate a class discussion by asking the following questions:

 What are GEs mission and vision statements? Do the organizational goals clearly support these statements? Try to get your students to explain how the goals support the mission and vision. What does this exercise tell you about GE? Why is it important for an organization to establish a mission statement, vision statement, and associated goals? Would you like to work at GE? Why or why not?

Notes: 1. Kinicki A. and Williams B. (2003). Management p. 151. Burr Ridge: IL, McGraw-Hill. 2. Kinicki A. and Williams B. (2003). Management pp. 151-52. Burr Ridge: IL, McGraw-Hill. 3. Kinicki A. and Williams B. (2003). Management pp. 152-53. Burr Ridge: IL, McGraw-Hill. 4. GEs mission statement from www.GE.com. Retrieved January 10, 2005. 5. GEs vision statement from www.GE.com. Retrieved January 10, 2005.

Lecturette: Investigating Corporate Mission and Vision Statements A companys mission is its purpose or reason for being. A mission statement expresses an organizations purpose or primary reason for existing (see slide 4 for this definition).1 An organizations vision is a long-term goal describing what an organization wants to become. (see slide 5 for this definition). 2 A corporate goal is a specific commitment to achieve a measurable result within a stated period of time (see slide 6 for this definition).3