1. In the strategic management model, clear vision and mission statements are needed before alternative strategies can be formulated and implemented.
An organization’s mission statement is its reason for existence. It often reflects the core values and beliefs of the upper management in an organization. A mission statement is the broad definition of the organizational mission. It is sometimes referred to as a creed, purpose, or statement of corporate philosophy and values. A good mission statement inspires employees and provides a focus and direction for setting lower level objectives. It guides employees in making decisions and establishes what the organization does. Mission statements are crucial for organizations to prosper and grow. Its primary purpose is to guide the entrepreneur and assist in refining the planning process. By developing a strategic plan that incorporates the mission statement, entrepreneurs are more likely to be successful and stay focused on what is important. Vision is the foundation for the mission statement. The vision provides a strategic direction, which is the springboard for the mission and its related goals. A vision statement differs from a mission statement. Vision statements are a view of what an organization is striving to become. They guide an organization into the future while mission statements are a reflection of the present. Organizations go through many changes and can face times of confusion and uncertainty. Changes are not always expected or easy, so a well thought out vision statement will help everyone stay focused and meet the organization's goals. In this fast changing technological era, mission and vision statements can positively impact the change effort of employees of an organization so care must be taken in developing these key statements. This is evident in the following:
Change is an essential component of strategic planning. This involves moving the organization or program forward to create or change...
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