A company mission, vision, and value statement is essential the company's future. Executives spend a great deal of time developing a strategic plan for the company. A strategic plan is a guide that defines a strategy, direction, and decisions. Organizations allocate its resources to pursue this strategy. The mission, vision and the values must be in place in order to develop an effective strategic plan.
International Business Machines (IBM) is the world's largest information technology company, engaged in providing business and technology services. IBM operates through six operating segments: enterprise investment, global financing, global services, systems and technology group, and software (IBM, 2007). The company operates in over 160 countries worldwide spanning North America, Latin America, Europe, Middle East, Africa and Asia Pacific. IBM is engaged in the invention, development and manufacture of information technologies, including computer systems, software, storage systems and microelectronics. The company recorded revenues of $91,134 million during the fiscal year ended December 2005, a decrease of 5.4% from 2004. IBM operates through six operating segments: global services, systems and technology group, software, global financing, personal computing, and enterprise investments. The net profit was $7,934 million in fiscal year 2005, an increase of 6.1% over 2004. Samuel Palmisano is the current chief executive officer (CEO) of IBM. He succeeded Louis Gerstner Jr. in January 1, 2003. Sam Palmisano changed the focus from pure technology to embrace outsourcing and other services a key part of the business model.
It was important that IBM find a way to engage everyone with in IBM. It was important that IBM employees spoke up on important issues. Sam Palmisano invited IBM employees to engage in an open "values jam" on IBM's intranet. At the end of the value jam, IBM determined that actions will be driven by these values:
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