WHAT DO WE WANT TO BECOME?

• A Vision statement should answer the question “ What do we want to become?”

• a clear vision provides the foundation for developing a comprehensive mission
statement.
• Many organizations have both vision and mission statement, but the vision statement
should be establish 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.
 WHAT IS OUR BUSINESS?

▪ Drucker says that asking the question “What is our business” is synonymous with asking
the question “What is our mission?” an enduring statement of purpose that distinguishes
one organization from other similar enterprises, the mission statement is a declaration of an
organization’s “reasons for being”. A clear mission statement is essential for effectively
establishing objectives and formulating strategies.
▪ Sometimes called creed statement, a statement of purpose, a statement of philosophy, a
statement of beliefs, a statement of principles, or a statement “defining our business,” a
mission statement reveals what an organizations want to be and whom it wants to serve.
All have reason for being, this reason into writing.
VISION VS MISSION

▪Many organization develop both a mission statement and a vision statement. It

can be argued that profit, not vision or mission, is the primary corporate
motivator. But profit alone is not enough to motivate people. Profit is perceived
negatively by some employees in companies. Employees may see profit as
something that they earn and management then uses and even gives away to
shareholders. Although this perception is undesired and disturbing to
management, it clearly indicates that both profit and vision are needed to
motivate workforce effectively.
 CHARACTERISTIC OF A MISSION STATEMENT

▪ A mission statement is more than a statement of specific details.it usually is broad in

scope for at least two major reasons. First, a good mission statement allows for the
generation and consideration of a range of feasible alternative objectives and strategies
without unduly stifling management creativity.
▪ Second, a mission statement needs to be broad to reconcile differences effectively
among, and appeal to, an organizations diverse stakeholders.
•
COMPONENTS OF A MISSION STATEMENT

• Mission statements can and do vary in length, content, format, and specificity.
Most practitioners and academicians of strategic management feel that an
effective statement should include nine components.
• Customers- Who are firm’s customers?
• Products or Services- what are the firms major products or services?
• Markets- Geographically where does the firm compete?
• Technology- is the firm technologically current?
 COMPONENTS OF A MISSION STATEMENT

• 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?
FONT: Times New Roman, 12
Margins: 1.5” Left, 1.0” Top, Bottom, Right
Page Number: Upper Right
Header: STRATEGIC MANAGEMENT PAPER OF Company ABC
Footer: OUR LADY OF FATIMA UNIVERSITY (Left) COLLEGE OF BUSINESS AND
ACCOUNTANCY (Right)
Spacing: 1.5
Document Size: Short Bond Paper/8x11
* Check the sample of 2GO for more basis with the content and format (there may be some
corrections so it’s still best to listen in class)