...CHAPTER NO:1 INTRODUCTION 1.1 WHAT’S A MISSION STATEMENT? Imagine if you were the captain of your own ship. You wouldn’t let the ship sail just anywhere. You would have a direction and a destination to sail to. Either you’re sailing to a predetermined port of call, or your ship is in port, getting ready to sail to another destination. It’s the same with our lives. A mission statement clarifies what you want out of life. It gives you a clear sense of direction. You know where you need to focus your attention to create the desired outcome. As Zig Ziglar has said, “You cannot make it as a wandering generality. You must become a meaningful specific.” A mission statement is only a paragraph long, but it has specific, measurable outcomes and a deadline for accomplishing that outcome. It’s truly the best way to start your journey to success. Mission statement A mission statement is a statement of the purpose of a company or organization, its reason for existing. The mission statement should guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-making. It provides "the framework or context within which the company's strategies are formulated." Definition: A written declaration of an organization's core purpose and focus that normally remains unchanged over time. Properly crafted mission statements (1) serve as filters to separate what is important from what is not, (2) clearly state which markets will be served and how, and...
Words: 6018 - Pages: 25
...Contrast Vision and Mission Statement” INTRODUCTION: “If you fail to plan you plan to fail” this magnificence statement reflects how is important to have a plan whether for your life or your entrepreneurship. Also, if you do not know what you want to get is, you won’t achieve any things; simply in other meaning, properly you will not achieve success by coincidence. Therefore, you have to determine what you want before creating your plan, which will lead us to talk about the mission and vision in order to achieve our goals. Vision Statements and Mission Statements are the inspiring words chosen by successful leaders to clearly and concisely convey the direction of the organization. By crafting a clear mission statement and vision statement, you can powerfully communicate your intentions and motivate your team or organization to realize an attractive and inspiring common vision of the future. Over the last few years, there has been a substantial body of business research leading to the inescapable conclusion that those companies that specifically state where they are going and why do remarkably better than those who do not. Accordingly, organizations that do not take the time to develop missions are often ineffective. This paper describes the nature and importance of organizational vision and mission statements. Guidelines are presented for preparing vision statement and mission statements, with comparing and contrasting between vision and mission statements, supported by...
Words: 2488 - Pages: 10
...What's the benefit of a mission or vision statement? By Ron Robinson, President of ABARIS Consulting Inc. February 4, 2002 What is a mission statement? According to Bain & Company, mission statements are one of the most frequently used management tools. Organizations spend thousands of hours and dollars developing mission statements and then more resources again on public relations to unfold them to their stakeholders. This is not surprising when you review the often-stated benefits of mission statements: • To communicate the direction of the organization. • To help make day-to-day operating decisions. • To keep the organization focused. • To motivate employees. Many authors have a variety of beliefs of what should be included in a mission statement. Ireland and Hill (1992) state that the mission statement should include the organizations goals, purpose, product and market scope and philosophical views. Davies and Glaister (1997) believe that it should include the organizations statement of purpose and inspirational view for the future. While Jamieson and Justice (1999) state that the framework for the development of a mission statement should begin with the organizations primary purpose, target market, core products or services, critical values and measures of success. One of the better practical definitions has been provided by Bartkus, Glassman and McAfee (2000) who basically state a mission statement is a statement to communicate a description of the firm to its...
Words: 700 - Pages: 3
...Vision Statement vs. Mission Statement George Leslie Kaplan University Vision Statement vs. Mission Statement To first understand the difference between a vision statement and a mission statement, one must first know what each statement is or know how to define them. The success of any business lies within the vision statement and mission statement. It is all about being able to accomplish the vision and the mission of the business. Therefore, it is important for a business to have a vision and mission. The purpose of the vision statement and mission statement is to establish and convey the directions in which an organization is trying to go (Mission statements, 2014). The big difference between the visions statement and mission statement is that they serve for different purposes. Let’s define and establish the difference between visions statements and mission statements. According to the businessdictionary.com, a mission statement is defined as “a written declaration of an organization's core purpose and focus that normally remains unchanged over time. Properly crafted mission statements (1) serve as filters to separate what is important from what is not, (2) clearly state which markets will be served and how, and (3) communicate a sense of intended direction to the entire organization” (Mission statement, 2014). To grasp a clear, concise understanding of what mission statement is, it can also be defined as being the organization’s purpose and objectives. The...
Words: 1038 - Pages: 5
...MISSION AND VISION STATEMENTS A vision statement is what companies do to give a full idea of what they want for the company or what direction the company is targeting. It’s a clear structure of what the company wants and why they want what they want. A vision statement is when a company set long term or short term goals. Vision statement is for a company to achieve and accomplish the desired targets of the business. A good vision statement provides structure for the daily operation of the company. The two must important part of a vision statement is what the company wants for the future and it must have excitement and motivation. "Use the company culture description for more details on the goals and direction of the business." Vision statements are future-based and are meant to give inspiration and direction to the employees of the company, not anyone outside the company. Vision statements are formal and can change over time. As a company grows, its objectives and goals most likely will change. Vision statements need to be restructured as needed to compliment the change as goals are on target and met. A couple of questions you might need to ask yourself when writing your vision statement includes the following, what problem does your company want to solve? What does your company wish to achieve? Who is your target consumer, and what do you want to do for them business wise? Vision statements should provide a sense of direction and enlarge...
Words: 757 - Pages: 4
...* What is VMOSA? * Why should your organization use VMOSA? * When should you use VMOSA? Like everyone else, community organizers often dream about goals they would like to accomplish, such as an end to drug abuse; every child being wanted, cared for, and nurtured; a home for everyone; peace in our lifetime. These are just a few of many people's visions for our community. Unfortunately, like many individual dreams, we think these objectives are too lofty and unattainable to ever be realized. But, in fact, realizing these dreams is possible. Look, for example, at our global success in eradicating small pox, or how far we have come since the 1950s in the United States towards reaching racial and gender equality. As Henry David Thoreau said over a century ago, "If you have built castles in the air, your work need not be lost; there is where they should be. Now, put foundations under them." Building foundations for your community dreams is what VMOSA, the strategic planning process that is the focus of this chapter, is all about. It's about groups of people deciding together what they want to accomplish, and how they are going to get there. What is VMOSA? One way to make that journey is through strategic planning, the process by which a group defines its own "VMOSA;" that is, its Vision, Mission, Objectives, Strategies, and Action Plans. VMOSA is a practical planning process that can be used by any community organization or initiative. This comprehensive planning tool...
Words: 15343 - Pages: 62
...lemonade stand in my local neighborhood. I have grand plans for this stand and expect to attract customers. Develop a creative name for your Lemonade Stand, and then explain why a name is important when you are considering branding options? * I am going to name my Lemonade Stand “Pitcher of Pleasure!” Branding is one of the most important aspects of any business. Your business name is the first image that your business projects. It is what customers will remember (good or bad) about your business that will either draw them to it or send them to a competitor’s business. Assuming my business lasts, I will have invested a lot of time and money building it. Obviously, part of the value of the business is the name. Always pick a name that is easy to remember and describes what the business does. Create a Mission Statement for your Lemonade Stand; then explain why a mission statement is important for any company? * The mission statement for my lemonade stand will be to raise money for a car, help out my parents, and show them that I can run my own business. The remainder of the money will go to the nursing home across the street from my neighborhood. A mission statement is a brief statement of why an organization exists; in other words, what the organization aims to accomplish for its customers, stakeholders, and investors. The mission statement sums up...
Words: 499 - Pages: 2
...Elements of an Effective Vision Statement The vision statement, a key element of your strategic plan, needs to incorporate many elements. The following list contains elements that you can include in an effective vision statement (you don’t have to use every one, but keep them in mind when you’re writing or evaluating): * Audacious: Your vision represents a dream that’s beyond what you think is possible. It represents the mountaintop your company is striving to reach. Visioning takes you out beyond your present reality. * Capitalizes on core competencies: Your vision builds on your company’s core competencies. It builds on what you’ve already established: company history, customer base, strengths, and unique capabilities, resources, and assets. * Futurecasting: Your vision provides a picture of what your business looks like in the future. * Inspiring: Your vision engages language that inspires. It creates a vivid image in people’s heads that provokes emotion and excitement. It creates enthusiasm and poses a challenge. * Motivating: Your vision clarifies the direction in which your organization needs to move and keeps everyone pushing forward to reach it. * Purpose-driven: Your vision gives employees a larger sense of purpose, so they see themselves as building a cathedral instead of laying stones. Elements of an Effective Mission Statement Your mission statement serves as a guide for day-to-day operations and as the foundation for strategic planning...
Words: 794 - Pages: 4
...a non-profit organization and a leader in health care for women today, with the most advance technology we are able to keep up with the ever changing times as well as the ever changing needs of the community to. The clientele for this organization will mainly be at risk women (youth) in the community as well as those in need of services because they cannot afford the treatment. The clientele is usually poverty stricken and have no other means for treatment otherwise. As the director I had the distinct pleasure of creating a mission statement that will strategically guide this organization through daily operations and decisions. The mission statement written expresses just that, guidance. The WHC mission statement: “To provide quality care, compassion and comfort to those within the community in need.” This mission statement supports the ethical system because it addresses the needs of the clientele as the main focus of the organization which is what the focus is supposed to be about as well as through acting as guiding purpose of all organizational and professional behavior. All decisions must be aimed at enhancing the lives of those they serve by providing an exceptional healthcare with compassion. This is the message it sends to the community, that this organization is there to help women with the basic services needed to maintain a healthy lifestyle without judgment or prejudice to the...
Words: 1221 - Pages: 5
...Analysis Report Introduction Strategic Management Consultants, Inc. will address six issues facing CanGo that Team A collected from the week one and two videos. Strategic Management Consultants, Inc. will come up with actionable recommendations, number, and prioritize the solutions for each of the issues found (DeVry Week 2 Assignments). Methods The research for this assignment was collected through DeVry’s E-platform portal from our course e-shell in week one and week two video episodes. 6 Issues After reviewing the video episodes in week one and two Strategic Management Consultants, Inc. believes that the six issues facing CanGo are as follows numbered and prioritized in order of importance: 1. Lack of a proper Vision and Mission statement. 2. Lack of solid Strategic management process. 3. Lack of a proper SWOT analysis. 4. Lack of proper Goals and Objectives. 5. Lack of Project Management Software (Specifically Gantt Charts). 6. Lack of a proper Cost/Benefit Analysis. Discussion...
Words: 2511 - Pages: 11
...Mission Statement vs. Vision Statement Every organization, in essence has some mission and vision, that are key factors in sustaining it in the business. Mission and vision statements give purpose to the firm in attaining a significant goal. Without a mission or a goal, it's impossible for any business entity to succeed in the long run. Comparison Mission statements are the main objectives of an organization. They inform the readers and customers about core values of your firm. They are like your business priorities, your methods and values of working that your firm will follow to achieve its objectives. Vision statements, on the other hand, are you long term goals that you have envisioned for the growth of your firm. Vision is your future and mission is your present, your reason for existence. Examples Some companies tend to use both the terms without any change in meaning. For example, Google's mission statement, as stated on their website is: "To organize the world's information and make it universally accessible." If we reflect upon the aforementioned statement, we will realize that it should indeed be the vision statement, because that is what Google ultimately aims to achieve- make search easier, faster and universally accessible. Similarly, if you go through the official website of Amazon, you will find that for the answer to the question, "Does Amazon have a Mission or Vision Statement?", their answer is, "Our vision is to be earth's most customer centric...
Words: 761 - Pages: 4
...Life Orientation Task 1A - Goal Setting and Mission Statements Edvânia Rescova Caianda 4 February 2016 Question 1: Refer to Sources A & B 1.1. So many people make New Year’s resolutions because it’s a New Year with a new begin and people make the resolutions to improve on life choices. 1.2. Reasons why New Year’s resolutions are quickly abandon: People aren't always 100% committed. Some resolutions aren't attainable, so it won’t be successful. caked 1.3. Tips on making your resolutions work: Focus on one or two resolutions than many at the same time, it will makes changes of success better, and also making the goal detailed. Walk before you run. Take small steps, big steps will discourage you from completing your goal. Try and find...
Words: 642 - Pages: 3
...you want your organization to go. A person needs to know the businesses current position and possible avenues in which to peruse a specific course of action. As a person head of a company, you should ask yourself a few questions. What do we do? Who will we do it for? And how will we progress in the future? Having a Vision Statement is like having a picture of what you want your business to be in the future, it tells people “where you want to go”. Having a Mission Statement is like telling people what your purpose is; you want both the organization and the public to know why it is your organization exists. Last, a Strategy Statement is an effective way to achieving the overall goal of an organization(About.com). When effectively establishing these statements you have developed a foundation for your organization. 2. Statements a. The Name of the organization I will be writing about is Ford Motor Company. Ford Motor Company is an American automaker and the world’s third largest automaker. I t was founded by Henry Ford and Incorporated on June 16, 1903. Ford became one of the most profitable companies in the world and survived through the great depression. The Ford Motor Company has been in continuous family control for over 100 years. b. Ford’s Vision Statement in the early 1900’s was: “Democratize the automobile” (Ford.com). The Current Vision Statement is: “To become the world's leading Consumer Company for automotive products and services” (Ford.com). Ford’s Mission Statement...
Words: 688 - Pages: 3
...from classic business planning, the strategic variety involves vision, mission and outside-of-the-box thinking. Strategic planning describes where you want your company to go, not necessarily how you're going to get there. However, like all other travel plans, without knowing where you want to go, creating details on how to arrive are meaningless. Strategic planning defines the "where" that your company is heading. Often confused with business operation plans, strategic plans are expressions of ownership dreams and visions of successful results (Pirraglia, 2012). The strategic plan displays the finished product or goal. Usually, in smaller businesses, strategic planning is focused on the overall company, not on a department or division (pirraglia, 2012). Envisioning goals and then defining strategies you'll embrace to achieve your objectives is the essence of strategic planning. Easy to overlook in a smaller business, strategic thinking identifies the methods you will take to reach your goals. For example, if you believe you must expand your e-commerce function to achieve increased sales volume, you've also identified the method to use your strategy and reach company goals. Save the specific steps and components for your business plan. By selecting the strategy, you have defined the method to employ in your detailed specifications in your business plan. As critical as business planning is to the success of your company, all plans are useless unless followed by action. An additional...
Words: 1257 - Pages: 6
...1 - Mission Statement of the Credit Function Definition The mission statement is the statement of purpose. What is your department trying to accomplish? The mission is not a statement of your goals. Your goals are put into place to support the mission. The mission statement describes in what ways you are supporting or interacting in the overall company's mission. It defines your role in the unified vision. Illustration A Company with high margins and an aggressive sales growth target may have a mission statement like this: The mission of the Gorman Inc. credit department is to facilitate an annualized 20% growth in top line performance by assisting in the sales process. The credit department's role is to develop strong customer relationships by granting aggressive but appropriate credit limits and terms, easing the establishment of new accounts by processing applications quickly while protecting the margins by managing risk of loss represented by fraud, failure or severe delinquency Developing a Mission Statement Before a mission statement can be adequately defined, a general understanding of the environment or market in which your company operates must be obtained. In developing the mission statement, there needs to be a basic understanding of the following: A) B) C) D) E) F) Nature of the Marketplace Competition Location of your Customers Growth Plans Margins Internal Company Structure Exploring these areas will ensure that your credit department's mission statement...
Words: 1187 - Pages: 5
