Strategic Management- Mission Statements

Topics: AstraZeneca, Pharmaceutical industry, Mission statement Pages: 2 (712 words) Published: May 1, 2013
A strategic mission describes a firm’s unique purpose, the scope of operations, the products it intends to produce and the markets it will serve using its core competencies. It identifies a firm’s individuality and relevance to its stakeholders. On the basis of this evaluation of a mission statement, evaluate the following mission statements and recommend how these could be made more effective: GlaxoSmith Kline: mission is to improve the quality of life by enabling people to do more, feel better and live longer The above statement describes the philosophy of the company as a pharmaceutical company. However it lacks focus on other areas such as Customers, Products, Markets, Technology, concern for survival, growth and profitability, self-concept, and concern for employees. However, the statement somewhat has the ingredient of concern for public image i.e. more or less for the public health benefit. Hence, with reference to the theoretical understanding of the concept of mission statement, the above statement is incomplete to be called a mission statement. Hence, it is recommended that the Glaxosmith be more descriptive while defining its mission statement and include the information as who it is for i.e. enhancement of the health of sick people or normal people? What products it would actually produce to enhance health. Which demographic component its products will be targeted on. What are its key competencies i.e. does it have that technology to produce quality product at a same time be competitive. How shall it address the interest of shareholders i.e. the focus on profit and growth of the company. And if it is a employee oriented company apart from technologically driven, how it will have the best employees at right job at right place in the company and at the same time ensure synergy.

Merck and Co.Inc.: to provide society with superior products by developing innovative solutions that improve the quality of life and satisfy customer needs, to provide...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay on Strategic Management
  • strategic management mission statement Essay
  • Strategic Management Essay
  • Essay about Strategic Management
  • Strategic Management Essay
  • Strategic Management Essay
  • Strategic Management Essay
  • Strategic Management Essay

Become a StudyMode Member

Sign Up - It's Free