1. Evaluate a company of your choice's Mission statement in the light of the 3 components of any Mission Statement. Also use the Abel framework to evaluate the business definition that this mission statement drives.
Ans.) While a business must continually adapt to its competitive environment, there are certain core ideals that remain relatively steady and provides guidance in the process of strategic decision making. These unchanging ideals from the business vision and are expresses in the company mission statement.
The mission statement communicates the firm’s core ideology and visionary goals, generally consisting of the following three components: a. Core values to which the firm is committed b. Core purpose of the firm c. Visionary goals the firm will pursue
The firm’s core values and purpose constitutes its core ideology and remain relatively constant. They are independent of industry structure and the product life cycle.
The core ideology is not created in the mission statement; rather, the mission statement is simply an expression of what already exists. The specific phrasing of the ideology may change with the times, but the underlying ideology remains constant.
Here is the Coca-Cola Company's mission statement for Stakeholders which is published in Jeffrey Abrahams' new book, 101 Mission Statements From Top Companies . "The Coca-Cola Promise: The Coca-Cola Company exists to benefit and refresh everyone it touches. The basic proposition of our business is simple, solid, and timeless. When we bring refreshment, value, joy and fun to our stakeholders, then we successfully nurture and protect our brands, particularly Coca-Cola. That is the key to fulfilling our ultimate obligation to provide consistently attractive returns to the owners of our business." The audience for this mission is specifically for the stakeholder.
The values here are stated explicitly: refreshment, value, joy, fun, and attractive returns. These