The document provides answers to 15 questions about mission statements and vision statements. It discusses where to find a company's mission statement, how to develop mission and vision statements if they do not already exist, how developing a mission statement can help resolve divergent views among managers, why mission statements should be reexamined when a company is successful, characteristics of good mission statements, and benefits of having clear mission and vision statements.
This is a Feasibility Study conducted by a group of students "The Incorporators" from Capitol University's Bachelor of Science In Business Administration major in Marketing Management and Human resource Management.
Note: This document is not available to download, sorry for the inconvenience.
Ch4 Internal Assessment: Strategic ManagementTriune Global
Focus is on identifying & evaluating a firm's strength & weaknesses in the functional areas of business, including management, marketing, finance, production, and management information systems.
A Report On The Content Analysis Of Vision And Mission Statements & Environme...Navitha Pereira
Content analysis is done of the vision and mission statements of the Indian IT companies as it is a very effective tool; here certain set of themes or keywords are identified in the vision and mission statements and then their occurrence is taken into account and is recorded in terms of simple frequency.
Environmental analysis technique is where factors such as the international factors, demography, political/legal factors, technological factors and socio-cultural factors are firstly recorded and stated separately for internal environment & for the external environment and then they are totally integrated and put up into the SWOT table which is a summarizing conclusion of the analysis performed.
This is a Feasibility Study conducted by a group of students "The Incorporators" from Capitol University's Bachelor of Science In Business Administration major in Marketing Management and Human resource Management.
Note: This document is not available to download, sorry for the inconvenience.
Ch4 Internal Assessment: Strategic ManagementTriune Global
Focus is on identifying & evaluating a firm's strength & weaknesses in the functional areas of business, including management, marketing, finance, production, and management information systems.
A Report On The Content Analysis Of Vision And Mission Statements & Environme...Navitha Pereira
Content analysis is done of the vision and mission statements of the Indian IT companies as it is a very effective tool; here certain set of themes or keywords are identified in the vision and mission statements and then their occurrence is taken into account and is recorded in terms of simple frequency.
Environmental analysis technique is where factors such as the international factors, demography, political/legal factors, technological factors and socio-cultural factors are firstly recorded and stated separately for internal environment & for the external environment and then they are totally integrated and put up into the SWOT table which is a summarizing conclusion of the analysis performed.
Ashford 5: - Week 4 - Assignment
Human Resource Planning and Organizational Strategy
In a four- to five-page paper (excluding the title and references pages), discuss the relationship between human resource planning activities and the organization’s strategic development and implementation. Describe the eight elements of the staffing process. Examine the relationship between the eight elements of the staffing process and the four activities related to human resource planning.
Based on the information presented in Figure 10.5, review the human resource planning process and the previous readings from Chapters 4 and 8. Explain the relationship between the four activities of human resource planning and the organization’s strategic planning, development, and implementation.
Your paper should include in-text citations and references for at least three scholarly sources, in addition to the text, and be formatted according to APA style as outlined in the
Ashford Writing Center
.
Carefully review the
Grading Rubric
for the criteria that will be used to evaluate your assignment.
FIGURE 10.5 Human resource planning process
(Plunkett 330-331)
Plunkett, Warren R., Gemmy Allen, Raymond Attner. Management. Cengage Learning, 01/2012. VitalBook file.
CHAPTER 4 PLANNING AND STRATEGY
LEARNING OBJECTIVES
After studying this chapter, you should be able to:
1 Explain the importance of planning
2 Differentiate between strategic, tactical, operational, and contingency plans
3 List and explain the steps in a basic planning process
4 Discuss various ways to make plans effective
5 Distinguish between strategic planning, strategic management, strategy formulation, and strategy implementation
6 Explain the steps involved in the strategic planning process
7 Explain the formulation of corporate-level strategy, business-level strategy, and functional-level strategy
SELF-MANAGEMENT
Strategic Thinking
What do you want to accomplish with your life? To be successful, you need to be proactive, look ahead, anticipate change, and analyze opportunities. In other words, you need to plan and think strategically. This will help you to determine the potential impact of your actions on other individuals. As a result you will make better decisions.
Strategic thinking involves the gathering and use of data to make significant long-term decisions that will affect future business performance. This process requires examination of the mission, core functions and current performance of a business, the industry in which it operates, and the external environment. An important step in becoming a manager is to think strategically. For each of the following statements, circle the number which indicates your level of agreement. Rate your agreement as it is, not what you think it should be. Objectivity will enable you to determine your management skill strengths and weaknesses.
Almost Always
Often
Sometimes
Rarely
Almost Never
I set clear goals for myself.
.
04 an expanded mc kinsey’s 7s framework prospective cosimo gualanoNevion
Able to see the big picture from the balcony is not an easy task, especially when managers are busy with day-to-day operations. The balcony‟s view plays an important role in the process of lifting a manager in a leadership position. If for a moment you compare the day-to-day operational to a dance floor, you will notice that while spending the whole evening to the dance floor, you will be aware of what happens in your immediate vicinity. Much energy will be spent on dancing and avoiding other people dancing.
Vision is a dream what a company wishes to become or aspire or intend to be in future.
Kotler defines it as a “description of something in future.”
A vision answers the question “where we want to be”.
It gives us a reminder about “what we want to develop”.
A vision statement is for the organization & it’s members, unlike the mission statement is for the customers & clients.
Example: the vision of “Wal-Mart” is to become the worldwide leader in retailing.
Generic Electric: “We bring good things to life”.
Ranbaxy Laboratories: “to become a research based international pharmaceutical company”.
FEATURES
The vision must be clear.
It must be unambiguous.
It must harmonies with organization’s culture & values.
It should be realistic.
It should be concise to be memorised.
It incorporates a shared understanding about the nature and aim of the organization.
It prepares the foundation for mission & describes that on achieving the mission, how the organization would be placed in a particular position in future.
Mission is states that “what the company is, why it exists & the unique contribution it can make”.
The mission can be defined as the fundamental or unique purpose that makes it apart from other firms of its type.
It indicates the nature & scope of business in terms of product, market & technology.
The mission states its core ideology which can be divided into two parts: core purpose & core value.
Core purpose is the reason for which the firm exists & the firm stands on core values which it holds.
The mission can be reflected through the “mission statement”.
The Mission Statement distinguishes one business from other similar firms.
It is the statement of the role by which an organization intends to serve its stakeholders.
It describes why an organization is operating, what the organization does, who all it serves & what makes it unique.
It differentiates an organization from others by explaining its broad scope of activities, its products & technologies it uses to achieve its goals & objectives.
Example: Microsoft’s mission is to help people and business throughout the world to realize its full potential.
Wal-Mart’s mission is to give ordinary folk the chance to buy the same thing as rich people.
NTPC: To make available, reliable & quality power in increasingly large quantities.
BHEL: A world class innovative, competitive & profitable engineering enterprise providing total business solutions
Characteristics of Mission Statement
Both vision & mission statement always exist at top level of an organization and flow towards middle and lower level hierarchy.
It should be unique or distinct that every one keeps it in mind.
It should be feasible & attainable.
It should be clear enough so that actions can be taken.
It should be inspiring for the management, employees & society a large.
It should be precise & analytical.
It should be credible for all the stakeholders.
The mission statement of the firm wants to maintain its distinct image & characteristics
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
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Quiz 5QUIZ strategic management concepts &cases 11th edition by Fred R. David Chap
1. 1. What are some different names for “mission statement,” and where will you likely find a
firm’s mission statement?
Answer: A mission statement is sometimes called a creed statement, a statement of purpose, a
statement of philosophy, a statement of beliefs, a statement of business principles, or a statement
“defining our business.” A good place to look for a company’s mission statement is on the firm’s
website or its annual report, but many organizations also have the statement engraved and publically
visible at its stores or facilities.
2. If your company does not have a vision or mission statement, describe a good process for
developing these documents.
Answer: Select several articles and/or web sites about these statements and ask all managers to read
these as background information. Then, managers should prepare a vision or mission statement for the
organization. A facilitator or committee should then merge these statements into a single document and
distribute the draft statements to all managers. A request for modifications, additions, and deletions is
needed next, along with a meeting to revise the document.
3. Explain how developing a mission statement can help resolve divergent views among managers
in a firm.
Answer: The question “What is our business?” can create controversy. Raising the question often
reveals different opinions/views/beliefs among strategists in the organization. Individuals who have
worked together for a long time may realize that they are in fundamental disagreement. Negotiation,
compromise, and eventual agreement on important issues is needed in forming or revising a mission
statement. Then, managers can “be on the same page” and focus on more specific strategy formulation
activities.
4. Drucker says that the most important time to seriously reexamine the firm’s vision/mission is
when the firm is very successful. What is this?
Answer: The most important time to ask seriously “What do we want to become?” and “What is our
business?” is when a company has been successful. Success obsoletes the very behavior that achieved
it, and creates new realities and different problems. A very successful firm is the target of rival firms
who try to imitate, duplicate, reverse engineer their products, and take market share from the leading
firms.
5. Explain why a mission statement should not include monetary amounts, numbers,
percentages, ratios, goals, or objectives.
Answer: A mission statement is broad in scope for three reasons. First, it allows for the generation and
consideration of a range of feasible alternative objectives and strategies without unduly stifling
management creativity. Excess specificity would limit the potential of creative growth for the
organization. Second, a mission statement needs to be broad to reconcile differences among, and
appeal to, an organization’s diverse stakeholders. Thus, a mission statement should be reconciliatory.
2. Third, it is simply premature in the mission statement to reveal goals and objectives, which should be
determined after the internal and external assessment, as illustrated in the comprehensive strategic
planning model.
6. Discuss the meaning of the following statement: “Good mission statements identify the utility
of a firm’s products to its customers.”
Answer: A good mission statement reflects the anticipations of customers. Organizations should
identify customers’ needs and then provide a product or service to fulfill those needs. For example,
AT&T’s mission statement focuses on communication rather than on telephones; Exxon-Mobil’s
mission statement focuses on energy rather than on oil or gas; Union Pacific’s mission statement
focuses on transportation rather than on railroads; and Universal Studio’s mission statement focuses on
entertainment rather than on movies.
7. Distinguish between the “self-concept” and the “philosophy” components in a mission
statement. Give an example of each for your university.
Answer: The self-concept component of a mission statement describes a firm’s distinctive competence
or major competitive advantage. The philosophy component of a mission statement refers to the basic
beliefs, values, aspirations, and ethical priorities of the firm.
Self-Concept: AIUB offers different courses with high computer literacy
Philosophy: AIUB believes a statement that where leader is created
8. When someone or some company is “on a mission” to achieve something, many times they
cannot be stopped. List three things in prioritized order that you are “on a mission” to achieve in
life.
Answer: 1) To complete MBA.
2) To take a nice job.
3) To manage my anger.
9. Compare and contrast vision statements with mission statements in terms of composition and
importance.
Answer: Many organizations develop both a mission statement and a vision statement. Whereas the
mission statement answers the question, “What is our business?” the vision statement answers the
question, “What do we want to become?” Both statements are essential for firm success. The vision is
one sentence, whereas the mission is several sentences, and includes nine components.
10. Do local service stations need to have written vision and mission statements? Why or why
not?
Answer: Less formality and detail characterize strategic management in small businesses such as a
local service station. However, local service stations are not immune to competitive pressures, changes
in technology, changes in demographic factors, and resistance to change. Therefore, it is recommended
3. that even the smallest organization develop written vision and mission statements to enhance efforts to
secure bank financing and to develop good supplier, customer, and employee relationships.
11. Why do you think organizations that have a comprehensive mission statement tend to be high
performers? Does having a comprehensive mission cause high performance?
Answer: Having a comprehensive mission statement does not guarantee or cause high performance.
However, a comprehensive mission statement can contribute significantly to high performance, because
ideally it conveys the intent and aspirations of all employees and managers who by working together
achieve synergy. Having an excellent mission statement also provides a firm foundation for effective
strategic planning, rather than ad hoc guessing about what actions would be best to take in the future.
12. Explain why a mission statement should not include strategies and objectives.
Answer: A mission statement should not include strategies and objectives because the statement needs
to be broad in scope to effectively provide a basis for performing an external and internal audit and for
generating and selecting among alternative strategies. Including specific strategies and objectives in a
mission statement could reduce the level of innovative and creative thinking in an organization and
jeopardize the potential for the statement to be widely accepted by all managers and employees.
Acceptance of a clear mission is a prerequisite for gaining acceptance for strategies and objectives to
pursue. In addition, it is simply premature in the mission to include strategies and objectives where are
determined after the mission is decided upon.
13. Explain the principal value of a vision and mission statement.
Answer: Whereas the mission statement answers the question, “What is our business?” the vision
statement answers the question, “What do we want to become?” Both the vision statement and the
mission statement ensure unanimity of purpose within the organization and make important statements
about “who the firm is” and “what it wants to become” to outside stakeholders. The two statements
provide a firm foundation for effective strategic planning. The statements provide direction and help
motivate employees/managers. Table 2-3 lists ten benefits of having a clear mission statement: 1)
achieve clarity of purpose among all managers and employees; 2) provide a basis for all other strategic
planning activities; 3) provide direction; 4) provide a focal point for all stakeholders of the firm; 5)
resolve divergent views among managers; 6) promote a sense of shared expectations among all
managers and employees; 7) project a sense of worth and intent to all stakeholders; 8) project an
organized, motivated organization worthy of support; 9) achieve higher organizational performance;
and 10) achieve synergy among all managers and employees.
14. List seven characteristics of a mission statement.
Answer: : 1) it is broad in scope and does not include monetary amounts, numbers, percentages, ratios,
or objectives; 2) it is less than 250 words; 3) it is inspiring; 4) it identifies the utility of a firm’s
products; 5) it reveals whether the firm is socially responsible; 6) it reveals whether the firm is
environmentally responsible; 7) it includes nine components (customers, products and services,
markets, technology, concern for survival/growth/profits, philosophy, self-concept, concern for public
4. image, concern for employees); and 8) it is enduring and can reconcile differences among and appeal to
an organization’s diverse stakeholders.
15. List eight benefits of having a clear mission statement.
Answer: : 1) achieve clarity of purpose among all managers and employees; 2) provide a basis for all
other strategic planning activities; 3) provide direction; 4) provide a focal point for all stakeholders of
the firm; 5) resolve divergent views among managers; 6) promote a sense of shared expectations among
all managers and employees; 7) project a sense of worth and intent to all stakeholders; 8) project an
organized, motivated organization worthy of support; 9) achieve higher organizational performance;
and 10) achieve synergy among all managers and employees.