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Business Vision and Mission

Vision  

 Vision : Management and executive agreement on the basic vision for which the firm strives to achieve in the long run is critically important. Vision statement answers the question :  “ What do we want to become? ”

Clear vision : Provides foundation for comprehensive mission statement .

Characteristics  of  a  Strategic  Vision:

•    Charts a company’s future strategic course / path or direction

•     Defines the business makeup for 5 years (or more)

•     Specifies future technology-product - customer focus

Vision Statements examples :

•    The Bellevue Hospital : The Bellevue Hospital is the LEADER in providing resources necessary to realize the community’s highest level of HEALTH throughout life.

•    Atlanta Web Printers, Inc. : To be the first choice in the printed communications business.  The first choice is the best choice, and being the best is what Atlanta Web pledges to work hard at being - every day!

•    California Energy Commission :  It is the vision of the California Energy Commission for Californians to have energy choices that are affordable, reliable, diverse, safe, and environmentally acceptable.

Mission  

Recent Data indicate that : 90% of all companies have used a mission statement sometime in the previous five years.

Mission statement answers the question : “ What is our business? ” , the mission sets out why the  organization exists and what it should be doing .

Mission Statement clarify :

• Enduring statement of purpose
• Distinguishes one organization from another in similar enterprises
• Declaration of an organization’s “reason for being”

Mission Statements also referred to as :

• Creed statement
• Statement of purpose
• Statement of philosophy
• Statement of business principles

Mission Statements :  Reveal what an organization wants to be and whom it wants to serve , essential for effectively establishing objectives and formulating strategies .

Vision and Mission ( Mission Statement ) :

•    Many organizations develop both vision and mission statements

•    In practice the terms vision and mission are used interchangeably .

•     Shared vision creates a commonality of interests

Mission examples :

•    “The Bellevue Hospital, with respect, compassion, integrity, and courage, honors the individuality and confidentiality of our patients, employees, and community, and is progressive in anticipating and providing future health care services.”

•   Microsoft  Corporation : Empower people through great software anytime, anyplace, and on any device.

•    It is the California Energy Commission’s mission to assess, advocate, and act through improve energy systems that promote a strong economy and a healthy environment.”

Characteristics  of  a  Mission  Statement :

•   Defines current business activities

•   Highlights boundaries of current business

•    Conveys

–        Who we are,

–        What we do, and

–        Where we are now

•  Company specific, not generic —so as to give a company its own identity

•   A company’s mission is not to make a profit !

•    The real mission is always—“What will we do to make a profit?”

 A good mission statement reflects the anticipations of customers :

•  Identify customer needs

•   Provide product/service to satisfy needs

Components of Mission

Mission statements vary in Length , Content , Format , Specificity . 

 Must include the 9 elements, as the mission statement is the most public and visible part of the strategic-management process.

Elements of  mission :

1. Customers
2. Products or services
3. Markets
4. Technology
5. Survival, growth, and profitability
6. Philosophy
7. Self-concept
8. Concern for public image
9. Concern for employees

Mission Statement examples :

PepsiCo Mission Statement : PepsiCo’s mission is to increase the value of

our shareholders’ investment.  We do this through sales growth, cost controls, and wise investment resources.  We believe our commercial success depends upon offering quality and value to our consumers and customers;

providing products that are safe, wholesome, economically efficient and environmentally sound; and providing a fair return to our investors while adhering to the highest standards of integrity.

Ben & Jerry’s Mission Statement : Ben & Jerry’s mission is to make, distribute and sell the finest quality all-natural ice cream and related products in a wide variety of innovative flavors made from Vermont dairy products.  To operate the Company on a sound financial basis of profitable growth, increasing value for our shareholders, and creating career opportunities and financial rewards for our employees.  To operate the Company in a way that actively recognizes the central role that business plays in the structure of society by initiating innovative ways to improve the quality of life of a broad community—local, national and international.

Evaluation Matrix of Mission Statements

Example : King Sawod University

Vision :  To be a world class university and a leader in building the knowledge society .

Mission :   To provide distinctive education, produce creative research, serve society and contribute in building the knowledge economy and community through learning, creative thinking environment, the optimal use of technology and effective local and international partnership .

Values:

The values of a company state how managers within the company intend to conduct themselves , how they intend to do business , and what kind of organization they want to build .

Values statement :

1. Ethical restrains , which controlled organization’s work .
2. No time , place , personnel , determine .
3. Employees internal values .
4. Connecting and gathering employees .
5. Reflects what is organization important ethically .

Values examples : Sincerity in working, Transparency , Justice ,  Equality of opportunities ,  Excellence ,Teamwork spirit ,  Accountability , Cooperate ,  Social responsibility , Flexibility ,  Ethics .