Vision and Mission

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The Business Vision and Mission

Chapter Two
Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall

Chapter Objectives
1. Describe the nature and role of vision and mission
2. 3. 4. 5. statements in strategic management. Discuss why the process of developing a mission statement is as important as the resulting document. Identify the components of mission statements. Discuss how clear vision and mission statements can benefit other strategic-management activities. Evaluate mission statements of different organizations. Write good vision and mission statements.
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6.

What Do We Want to Become?
 A vision statement should answer the basic question, “What do we want to become?”

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What Do We Want to Become?
 The vision statement should be short, preferably one sentence, and as many managers as possible should have input into developing the statement.

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Vision Statement Examples

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What Is Our Business?
 Mission statement
 a declaration of an organization’s “reason for being.”  answers the pivotal question “What is our business?”  essential for effectively establishing objectives and formulating strategies

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Mission Statement
 Mission statement
 reveals what an organization wants to be and whom it wants to serve  Also called a creed statement, a statement of purpose, a statement of philosophy, a statement of beliefs, and a statement of business principles

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A Comprehensive StrategicManagement Model

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Vision versus Mission
 Shared vision creates a commonality of interests that can lift workers out of the monotony of daily work and put them into a new world of opportunity and challenge.

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The

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