Business

1. STRATEGIC MANAGEMENT
Course Instructor:
Abdisalan Muhumed

2. UNIT 4
Developing Vision, Mission
and Core Values

3. Chapter Objectives
• Introduction to Vision, Mission and Core Values
• Definition of Vision Statement
• Importance of Vision Statement
• Characteristics of a Good Vision Statement
• Definition of Mission Statement
• Importance of Mission Statement
• Characteristics of Good Mission Statement
• Definition of Core Value
• Relationship Between Core Value and Culture

4. Components

5. INTRODUCTION
The Words Vision, Mission, Values, and even strategy can hold very different
meanings to the different people.
Each Organization must clarify what it means by each of these terms.
The Priority is to have agreement among the people involved, not to have the
right definition.
When they are actually used in the way they were intended vision, mission and
value, make building, running and growing your organization easier and more
impactful.

6. INTRODUCTION…
Vision
Mission
Current State
Core Values
Where are we
now
Where are going
What are we doing to get
there
What are our beliefs, Principles and Philosophy

7. What is a Vision Statement
A vision statement describes or identifies where the
organization intends to be in the future.
The vision statement answers the question
“Where do we want to go”.
It describes the long-term goals for a company or
organization.
Vision statement are lofty and ambitious and they don’t
contain details or steps for achieving those goals.

8. Importance of Vision Statement
It provides a clear direction about where the
organization is heading.
It has a strategy-making value in the sense that it
indicates the type of strategy the organization should
follow to reach the dreamed destination.
It helps managers to think strategically about issue
such as new technology, customer experience,
sustainability, etc.

9. Characteristics of Good Vision Statement
Future
Oriented.
Motivational
and
Inspirational.
Clear and
Concise.
Aimed at
bringing
benefits and
improvement to
the
organization in
the future.
Understood
and shared by
members of
the public

10. Examples of Vision Statements
Amazon
“To be Earth’s most customer-centric company”.
Google
“Provide access to the world's information in one click”.
Civil Service Commission
“A capacitated institution delivering high quality
standard of service to the public with a good reputation
in society”.

11. What is a Mission Statement
 The Source of Much contemporary thinking about the business mission argues that
asking the questions “what is our business”, is the same as asking the question
“what is our mission”.
 The mission statements describe what the organization needs to do now to achieve
the vision.
 It defines how to organization will be different from other organization in its
industry.

12. Importance of a Mission Statement
1. A mission statement outlines a company’s purpose (Reason For
Existence).
2. It helps the organization focus and stay on track to make the right
decision about its future.
3. With a mission statement a company's customers and investors can
rest assured that the company's is fully committed to achieving its
goal and maintaining its values.

13. Characteristics of Good Mission Statement
1. They are short and punchy: A mission statement shouldn’t be an essay.
2. They start with an action verb: that most of the statements have an action
word at the beginning of the statement. After the word “To…” you see such
words as “inspire,” “create,” “reinvent,” “give” and so on.
3. They are specific: Your mission statement should reflect the specific nature
of your business and define your company culture and character.
4. Action-Oriented: The mission statement should highlight the
organization's actions, what it does, and how it serves its customers or
clients.

14. Mission Statement Examples
 Amazon
“To serve consumers through online and physical stores and focus on
selection, price, and convenience.”
 Google
“To organize the world's information and make it universally accessible and
useful”.
Civil Service Commission Mission
“To provide professional human resource services to government for quality
service delivery to the citizens of the Republic of Somaliland”.

15. What are Core Values
 Core values are defined system of beliefs' that helps people tell the
different between right from wrong.
 Organization values serve as guiding principle for words and
action.
 The core values of an organization underline all activity including
the strategies used to fulfil purpose and how the member of the
organization interact white one or other.

16. Relationship B/w Core Values and Culture
 Culture is the set of behaviors and practices that evolve from
the core values of the company.
 It reflects the way the leaders and employees act in alignment
with core value, it’s a reliable indicator of a good culture.
1. Culture ( Behavior and Practice).
2. Core Values (Beliefs, Principles and Philosophy).

17. Examples of Core Values
Ownership
Integrity
Commitment
Innovation
Respect for people
Diversity
Empowerment
Teamwork
Transparent
Accountability