Professional Documents
Culture Documents
Chapter 2 by Farooq and Irfan MSMS Fall Semester 1 (2021-2023)
Chapter 2 by Farooq and Irfan MSMS Fall Semester 1 (2021-2023)
Our Mission
To achieve par excellence in Natural, Social and Administrative Sciences, Arts and Humanities in
a sophisticated manner and state-of-the-art environment.
Vern McGinnis
Define what the organization is and what the organization aspires to be.
Creative growth.
Distinguish one firm from other.
Should be clear to understood by all stakeholders.
Developing Process of Vision Statement
and Mission Statement
Input from all stakeholder ( Divergent views) while making a vision statement and mission
statement.
Most input should be taken from strategists. strategists are people who serve in many
organization. Set on many board of the organizations, have a wide variety of experiences.
Vision statement should be short such as one sentence while Mission Statement should not be
less than 100 words and nor does lengthy.
Both Mission and vision Statement should be eye attractive.
Most mission statements are made according to the criteria set by Peter Drucker father of
modern management.
Effective Mission Statement
Broad in scope.
Generate strategic alternative.
Share responsibility.
Take input from all stakeholder while making a mission statement.
Importance Of Mission Statement
Firms using mission statement have higher 30% return on financial measure.
Provide Unity in direction and Purpose.
Facilitate in formulating policies ,Short term objectives, annual objectives and strategies.
Used In facilitating How to and How much resources should be allocated?
Characteristics of Mission Statement
It differentiate one organization from other.
What it wants to be and Who to serve (Customers)?
What Markets to target?
Reconciliatory, Who are will be the stakeholder what makes one stakeholder different from
other?
Components of Mission Statement
Customers: Who will be the Customers?
Market: What Market to Target?
Technology: What Technology to be used?
Growth: Is firm Committed to growth in all aspects?
Philosophy: What are the firm belief, values and what it aspire to be?
Self Concept: What are major competitive advantage of firm?
Corporate Social Responsibility: Does firm value are concerning about corporate social
responsibility?
Concern for Stakeholders ?
Evaluation of Mission Statement
Evaluation Against the component of mission statement.
How good is mission statement to be known against the components such as Concern for
employee , Market, Technology, Purpose, Self- concept, Customers, Concern for growth,
Philosophy and Concern for public image.
Strategist are responsible for evaluation mostly.