Mission Statement

Topics: Strategic planning, Strategy, Management Pages: 3 (1011 words) Published: June 10, 2013
The key components of 'strategic planning' include an understanding of the firm's vision, mission, values and strategies. (Often a "Vision Statement" and a "Mission Statement" may encapsulate the vision and mission). * Vision: outlines what the organization wants to be, or how it wants the world in which it operates to be (an "idealised" view of the world). It is a long-term view and concentrates on the future. It can be emotive [citation needed] and is a source of inspiration. For example, a charity working with the poor might have a vision statement which reads "A World without Poverty." * Mission: Defines the fundamental purpose of an organization or an enterprise, succinctly describing why it exists and what it does to achieve its vision. For example, the charity above might have a mission statement as "providing jobs for the homeless and unemployed". * Values: Beliefs that are shared among the stakeholders of an organization. Values drive an organization's culture [citation needed] and priorities and provide a framework in which decisions are made. For example, "Knowledge and skills are the keys to success" or "give a man bread and feed him for a day, but teach him to farm and feed him for life". These example maxims may set the priorities of self-sufficiency over shelter. * Strategy: Strategy, narrowly defined, means "the art of the general".[citation needed] - a combination of the ends (goals) for which the firm is striving and the means (policies) by which it is seeking to get there. A strategy is sometimes called a roadmap - which is the path chosen to plow towards the end vision. The most important part of implementing the strategy [citation needed]is ensuring the company is going in the right direction which is towards the end vision. * 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. * Many...
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