Assignment on Mission Statement

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Many companies formulate a Vision and Mission statement. Explain why companies follow such practices and how they can use them effectively. You will support your arguments through organizational examples to demonstrate how Mission and Vision statements are formulated and describing the programs implemented to support such practices.

Table of contents

Executive summary................................................................................................................................4 Definition of Mission and vision statements..........................................................................5 Benefits of Mission statements and vision statements...........................................................7 Communicated and adopted by the staff:...........................................................................................7

Key Principles to Effective Internal Organizational Communications...........................................7

Mission and vision statement implemented through different programs.......................................7

Challenges and benefits of mission and vision statements in a constant climate change..............9 Conclusion............................................................................................................................................12References............................................................................................................................................13

Executive Summary

There is no company without mission and vision statements. In any organizations, mission and vision statement can affect thousands of individuals in various ways. Mission and vision statements are one of the most frequently used management tools. Organizations spend thousands of hours and dollars developing mission and vision statements and then more resources again on public relations to unfold them to their stakeholders.

Definition of Mission and vision statements:
Mission: Mission statements indicate that the fundamental purpose of a company, an organization or an enterprise, succinctly describing why it exists and what it does to achieve its Vision. The mission statement actually depend on could be either the long term or the short term. A corporate mission can last for many years, or for the life of the organization or may change as the organization develops. It is not an objective with a timeline, but rather the overall goal that is accomplished as organizational goals and objectives are achieved.

Vision: Defines the desired or intended future state of an organization or enterprise in terms of its fundamental objective and/or strategic direction. Vision is a long term view, sometimes describing how the organization would like the world in which it operates to be. For example a charity working with the poor might have a vision statement which read "A world without poverty"

Benefits of Mission statements and vision statements
Organizations sometimes summarize goals and objectives into a mission statement and/or a vision statement. Others begin with a vision and mission and use them to formulate goals and objectives. While the existence of a shared mission is extremely useful, many strategy specialists question the requirement for a written mission statement. However, there are many models of strategic planning that start with mission statements, so it is useful to examine them here. A Mission statement tells you the fundamental purpose of the organization. It defines the customer and the critical processes. It informs you of the desired level of performance. A Vision statement outlines what the organization wants to be, or how it wants the world in which it operates to be. It concentrates on the future. It is a source of inspiration. It provides clear decision-making criteria. An advantage of having a statement is that it creates value for those who get exposed to the statement, and those prospects...
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