This document discusses strategic management concepts including organizational vision, mission, goals, and objectives. It provides definitions and characteristics of mission statements and their components. It also defines the difference between goals and objectives, desired characteristics of objectives, and benefits of setting objectives. An example vision, mission, goal and objectives are given for Nike.

1. Dr. Muhammad Faisal, Ph.D (HRM),
contact: 0333-5377388

2. Strategic Management
Textbook
Strategic Management: Concepts: Competitiveness and
Globalization - 9th Edition, Michael A. Hitt, R. Duane Ireland,
Robert E. Hoskisson.
Contemporary Strategic
Management Case Studies,
6th Edition, Robert Grant
Reference Books
Concepts in Strategic
Management and Business
Policy, 12th Edition, Wheelen,
Thomas L., Hunger, J. David
The Blackwell Handbook of
Strategic Management, 1st
Edition. M.A. Hitt, R.E.
Freeman and J.S. Harrison

3. Strategic Management
Conceptual Issues: Organizational Vision, Mission,
Goals and Objectives

4. Strategic Management
Characteristics of a Mission Statement
 A Declaration of Attitude
 A Customer Orientation and
 Mission Statement Components

5. Strategic Management
Mission Statement - Components
Customers
Products or
Services
Markets
Technology
Concern for
Survival, Growth,
and profitability
Philosophy
Self-Concept
Concern for
Public Image
Concern for
Employees

6. Strategic Management
Writing and Evaluating Mission Statements

7. Strategic Management
Organizational Goals
 Goals are broader primary outcomes towards which effort and actions are
directed in a business.
 These are whats (not hows)
 Businesses might have multiple goals to achieve.
 Normally there is no measurement in the definition of a goal and only gives
you the general direction of the company

8. Strategic Management
Objectives
 Objectives are measurable steps, an organization takes in order to
achieve its goals.
 Long-Term Objectives
 Nature of Long-Term Objectives
 Financial versus Strategic Objectives
 Not Managing by Objectives
o Managing by Crisis
o Managing by Subjective
o Managing by Hope
 Annual Objective

9. Strategic Management
Desired Characteristics of Objectives
1. Quantitative
2. Measurable
3. Realistic
4. Understandable
5. Challenging
6. Fitting across departments

10. Strategic Management
Benefits of Objectives
 State direction;
 Aid in evaluation;
 Create synergy;
 Reveal priorities;
 Focus coordination; and
 Provide basis for effective planning, organizing, motivating, and
controlling activities.

11. Strategic Management
Vision, Mission, Goal and Objectives
Vision – “To bring inspiration and innovation to every athlete
in the world.” (2016)
Mission – "To bring inspiration and innovation to every
athlete in the world."
Goal – Nike is believing in the partnerships formed valuing the opportunity to work
together with all stakeholders in the apparel industry and to share best practices.
Objectives– Nike’s first objective is to make a profit for the shareholders. In order to
meet objectives, Nike makes a number of small aims and objectives.