The Business VisionThe Business Visionand Missionand Mission
What Do We Want to Become?A vision statement should answer the basicquestion, “What do we want to become?”What is our Milestones?The vision statement should be short,consist on one sentence, and it is Broad insenseTells that where we want to Go?
Mission statementWhat Is Our Business?a declaration of an organization’s “reasonfor being.”essential for effectively establishingobjectives and formulating strategiesBrief description about companyobjectives.And how to achieve those objectives.
Mission Statement discloses what an organizationwants to be and who are itscustomers? Also called a creed statement,which describes the purpose,company philosophy, beliefs, andStated the business principles
Vision versus MissionVisionShort consist on onestance.Broad in scenesWhat we want tobecome?Where we want togoing?MissionConsist on 250 words.Develop to completeVision statement.Who are our customersand whom we areserving?
Components of MissionStatementCustomers:Who are the firm’s customers?Products or services:What are the firm’s major products or services?Markets:Geographically, where does the firm compete?Technology:Is the firm technologically current?
Components of MissionStatementConcern for survival, growth, andprofitability:the firm committed to growth and financialsoundness?Philosophy:What are the basic beliefs, values, aspirations,and ethical priorities of the firm?Self-concept:What is the firm’s distinctive competence ormajor competitive advantage?
Components of MissionStatementConcern for public image:Is the firm responsive to social, community,and environmental concerns?Concern for employees:Are employees a valuable asset of the firm?