This document discusses the importance of vision and mission statements for businesses. It provides examples of vision statements from different organizations and outlines key components that make an effective mission statement, such as defining what the organization is and aspires to be, distinguishing it from others, and stating it clearly so it is understood by all. Research shows that firms with formal mission statements can see benefits like higher returns and that social policy should be integrated into strategic management activities.
22. Developing Vision & Mission Clear mission is needed before alternative strategies can be formulated and implemented
23. Developing Vision & Mission Participation from diverse managers is important in developing the mission.
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27. Importance of Mission Mission Resource Allocation Unanimity of Purpose Organizational Climate Focal point for work structure Benefits from a strong mission
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34. Social Policy & Mission Social policy should be integrated in all strategic-management activities. Mission should convey the social responsibility of the firm
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37. Mission Elements Customers Markets Employees Public Image Self-Concept Philosophy Survival Growth Profit Products Services Technology
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40. Mission Statement Evaluation Matrix No Yes Yes Yes No Ben & Jerry's No Yes No No Yes PepsiCo Technology Concern for Survival, Growth, Profitability Markets Products Services Customers Organization COMPONENTS
41. Mission Statement Evaluation Matrix Yes Yes Yes No Ben & Jerry's No No No Yes PepsiCo Concern for Employees Concern for Public Image Self-Concept Philosophy Organization COMPONENTS
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