Q No 1 : What do you understand by ‘mission’? Explain why it is necessary at the starting point in the process of formulating a strategy?
What do you understand by ‘mission’?
As per Mintzberg - A mission describes the organisation’s basic function in society, in terms of the products and services it produces for its customers”. Mission defines the fundamental purpose of an oraganisation , describes why it exists and answers the question “Wha do we do?”.
Mission statement creates a sense of direction and opportunity and it creates value for those who get exposed to the statement, and those prospects are managers, employees and sometimes even customers. Both of these are essential part of the strategy-making process. It has a direct bearing on the bottom line and success of the organization.
Thus Mission statements plays
(1) Communicate the purpose of the organization to stakeholders. (2) Inform strategy development.
(3) Develop the measurable goals and objectives by which to gauge the success of the organization’s strategy.
Explain why it is necessary at the starting point in the process of formulating a strategy?
To reach any destination the knowledge of path is very important likewise for any organization to achieve its ultimate objectives and goals, a well defined mission is very important. A strategic plan starts with a clearly defined business mission. Mission statement provides a path to realize the vision in line with its values.It informs us the desired level of performance and used to set out a 'picture' of the organization in the future
For any new organization to be successful in achieving desired goals it has to formulate the strategy and mission is starting point in the process. Mission is necessary at the starting point in the process of formulating a strategy to know:
(1) The purpose of the organization. Why does the business exist? Is it to create wealth for shareholders? Does it exist to satisfy the needs of all...
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