...Mission and Vision Statement Analysis of Patagonia and Columbia Sportswear Patagonia Mission Statement: Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis. Columbia Sportswear Mission Statement: Design and deliver authentic, outdoor, high-value products for active consumers of all ages. Mission Statement Analysis Both Patagonia and Columbia Sportswear principle market sector involves outdoor apparel and equipment. Patagonia’s mission statement does not directly state what their product is but focuses more on the quality and impact of manufacturing on the environment. Based upon Patagonia’s annual report from 2013, the company has gone to endless measures to ensure they maintain their social responsibility as guardians of the environment. “[C]ause no unnecessary harm”, is reflected in one instance in 1996 when the company stopped using traditionally grown cotton in their clothing because of chemicals and pesticides used in growth. In 2001, founder Yvon Chouinard cofounded 1% for the Planet, a collective of organizations dedicating 1% of their sales to support environmental efforts. Patagonia consistently sets the bar for environmental awareness in business and manufacturing practices. As a consumer of their products for close to a decade, I can attest the “[b]uild the best product” is an accurate statement, comparative to other outdoor clothing producers. Even with “build the best product” as their...
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...Assignment The mission statement addresses the following: What are our economic goals? What is our operating philosophy in terms of quality, company image, and self-concept? What are our core competencies and competitive advantages? What customers do and can we serve? How do we view our responsibilities to stockholders, employees, communities, environment, social issues and competitors? The Role of Top Management and the Importance of Company Policy Introduction to Business Policy Chief Executive – serves as the head and has the knowledge about the nature of the company. Responsibilities of the Chief Executive 1. Elaborate the major policies of the firm. 2. Define the objectives of the firm. 3. Develop strategies and the long-range plan for achieving these objectives. 4. Must develop an organization which most efficiently carries out the company’s strategic plan. 5. Must develop the operating policies which ease the burden of decision-making to carry out the plan. 6. Be involved in controlling the operations of the firm and in problem solving. Definitions 1. Major Policies Major policies (or “company” policies) deal with the firm’s fundamental nature, its identity, and the direction in which it is expected to move. They provide a framework within which the objectives can be established. 2. Objectives The firm’s objectives or goals (these are two terms used interchangeably) specify, usually in quantitative terms (e.g., dollars,...
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...Strategic Plan, Part II: SWOTT Analysi University of Phoenix BUS/475 Integrated Business Topics Strategic Plan, Part II: SWOTT Analysis The SWOTT analysis is one of the most effective tools used by companies in forming a strategic plan. SWOTT is an acronym for Strengths, Weaknesses, Opportunities, Threats, and Trends that face a company. Managers can use this tool as a technique in creating a quick overview of their company’s strategic situation. Pearce & Robinson (2009) states,” It is based on the assumption that an effective strategy derives from a sound “fit” between a firm’s internal resources (strengths and weaknesses) and its external situation (opportunities and threats).” This paper will analyze some external and internal forces and trends that could affect a new TruHealth Restaurant and Bakery. This will be determined from a created SWOTT table provided below. Each discussed force and trend will include one primary strength, weakness, opportunity, threat, and trend included in the table. The paper will also analyze at least seven forces and trends and how they pertain to TruHealth. Last the paper will discuss technology and competitive analysis, how TruHealth’s adapts to change, supply chain operations, and any significant issues and/or opportunities for this company. SWOTT ANALYSIS TABLE Factors |Strength |Weakness |Opportunity |Threat |Trend |External...
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...Management Process Introduction The strategic management process is more than just simple rules. It is a rational approach used in businesses. It starts with management thinking strategically, then applying steps and thought to a process. This process should be understood by everyone in the business. Although it starts with upper management, it should be implemented throughout the entire business and everyone should be included. According to Popescu, in the International Conference on Management and Industrial Engineering “The process of strategic management consists of an ongoing analysis, decisions, and actions activities to create and sustain competitive advantages in order to obtain desired competitive position and achieve strategic objectives”(Popescu,2013). This process is not one simple step and can be complex. It is not a onetime occurrence and can happen multiple times. The ongoing analysis, decisions, and actions that are performed should include all people involved. Everyone should be on the same page throughout the strategic management process. Goal Setting It is important for any business to set goals. Goals give businesses a purpose. It helps to organize the direction in which a business should take. Businesses should always have goals and let the goals be clear. Goals should be clear to both managers and employees. Short term and long term goals should be established. These goals should be evaluated throughout the strategic management process. According to...
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...MISSION STATEMENTS OF SOCIALLY RESPONSIBLE FIRMS: A CONTENT ANALYSIS Refika BAKO LU Marmara University, Turkey Bige A KUN Marmara University, Turkey ABSTRACT A well-designed mission statement is essential for formulating, implementing and evaluating business strategy. However the role of the mission statement in the strategic management of business firms has not been sufficiently highlighted in the research literature. The importance of mission statements to the effective strategic management of business organizations is well documented in the literature but it is quite surprising that minimal attention has been paid to the role of mission statements of socially responsible organizations. This paper attempts to fill this gap in the literature. It focuses on the socially responsible firms, which are listed in the Business Ethics' 100 Best Corporate Citizens Index, by selecting the firms whose mission statements could be seen clearly from their corporate websites. The mission statements are then analyzed to determine their components and the differences between the firms. Keywords: Mission Statement, social responsibility, content analysis It becomes apparent when appraising the some definitions of the mission concept is regarded as multidimensional concept by virtually all authors. Further, variations in conceptualization and the specific words used notwithstanding, it is possible to identify common elements that underlie most definitions of the concept. In contemporary...
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...strategic making process is briefly discussed. Table of Contents 1. INTRODUCTION 1 2. BACKGROUND 1 3. VISION STATEMENT 2 4. MISSION STATEMENT 2 5. STATEMENT OF VALUES 3 6. ENVIRONMENT ANALYSIS 4 6.1. ANALYSIS OF THE EXTERNAL ENVIRONMENT 4 6.2. ANALYSIS OF THE INTERNAL ENVIRONMENT 4 7. STRATEGIES 5 7.1. GENERIC COMPETITIVE STRATEGIES 5 7.2. BUSINESS STRATEGY 6 7.3. FUNCTIONAL STRATEGIES 6 7.3.1. Procurement Strategy 6 7.3.2. Online Marketing Strategy 7 7.4. IMPORTANCE OF IMPLEMENTATION, EXECUTION AND EVALUATION OF THE DERIVED STRATEGIES 7 8. CONCLUSION 8 9. RECOMMENDATIONS 9 10. REFERENCES 10 11. APPENDIX A: PEST ANALYSIS FOR COMFORT CARE PHARMACY 11 12. APPENDIX B: SWOT ANALYSIS FOR COMFORT CARE PHARMACY 12 1. Introduction Comfort Care Pharmacy is the largest pharmacy in the Tuschen Housing Scheme, and has seen considerable growth since its establishment in 2008. Given the significant growth; the company has recognised the need to plan strategically. This paper is divided into seven sections. The first section gives a background of the business. The second, third and fourth sections aim to develop a vision statement, a mission statement and a statement of values, and explain their appropriateness. In the fifth section an analysis of the external environment is conducted using PEST...
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...Organizational Vision, Mission, and Values Statements * Validation of the organization’s vision, mission statement, and values statements is an ongoing process. At a minimum, annual reviews should be accomplished to ensure the accurately reflect the direction laid out in our company’s current strategic plan. Our mission statement should provide a general description of our fundamental reason for being and the functional role that our organization plays in our competitive environment (Mintzberg, Lampel, Quinn, & Goshal, 2003). All will be reviewed to certify that they accurately reflect our current status, competencies, and future direction as well. A focus group representing a cross section of employees will be convened to review these statements, with final approval for changes coming from the executive board. * External Environmental Analysis By conducting an external analysis, my goal is to identify the critical threats and opportunities in my company’s particular competitive environment. To a firm seeking a competitive advantage, an environmental threat is any individual, group, or organization outside the firm that seeks to reduce the level of that firm’s performance. Threats can increase a firm’s costs, decrease the willingness of a firm’s customers to pay, or in other ways reduce a firm’s performance (Pearce & Robinson, 2011). A considerable amount of collected works on techniques for and approaches to conducting an external analysis has evolved over...
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...Final Strategic Plan Bus/475 March 11, 2012 In today’s vigorous industry environment, establishments have to progress strategic strategies to gain an economic benefit. Forecasting is a vigorous purpose of operating an effective company that coincides with a company’s mission, vision, and values. Of these components expose the objectives, long-term goals, and reasoning for its activities. These components create the framework that plans the path of the businesses future. The following information will provide points by constructing a vision, mission, and values for Speedway LLC organization. Vision Speedway LLC is to become the customers’ first choice for value and convenience. This company strives to produce a welcoming atmosphere with the intent of providing the best service and products for the customers. The fundamentals of this vision are to accomplish tasks for a long-term framework with the goal of accumulating shareholder significance and to give back to the community. Mission Speedway LLC focus is to indulge customers. Their mission is to provide transportation fuels and convenience store merchandise to the motoring public. Speedway caters to customers’ needs by presenting products at reasonable prices. Speedway seeks to produce a welcoming environment, which make the consumers daily lives a focus. Achieving this task is by employing educated personnel committed to understanding our customers...
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...Resource Based View A question summarizing RBV approach. Definition The resource-based view (RBV) is a model that sees resources as key to superior firm performance. If a resource exhibits VRIO attributes, the resource enables the firm to gain and sustain competitive advantage.[1] What is a resource based view? RBV is an approach to achievingcompetitive advantage that emerged in 1980s and 1990s, after the major works published by Wernerfelt, B. (“The Resource-Based View of the Firm”), Prahalad and Hamel (“The Core Competence of The Corporation”), Barney, J. (“Firm resources and sustained competitive advantage”) and others. The supporters of this view argue that organizations should look inside the company to find the sources of competitive advantage instead of looking at competitive environment for it. The following model explains RBV and emphasizes the key points of it. _ Improve your management style, hire a business speaker According to RBV proponents, it is much more feasible to exploit external opportunities using existing resources in a new way rather than trying to acquire new skills for each different opportunity. In RBV model, resources are given the major role in helping companies to achieve higher organizational performance. There are two types of resources: tangible and intangible. Tangible assets are physical things. Land, buildings, machinery, equipment and capital – all these assets are tangible. Physical resources can easily be bought in the market so...
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...Mission and Vision Statement Today, in the 21st century, when the borders between countries erased, and people travel all over the world and within their countries, the airline industry has become more popular. Air carriers have become more sophisticated and aware of their customers’ needs; thus, they operate at all levels providing a valuable service to their customers. Talking about the US airline industry, I want to analyze such companies as Southwest Airlines and Jet Blue Air. In order to analyze these companies, it is necessary to start with what are the company aims, what is important to it, what it wants to achieve, and who the groups are. All this valuable information is reflected in the company’s mission and vision statement. Thus, let’s take a closer look at mission and vision statements of Southwest Airlines and Jet Blue Air. According to the Southwest Airlines Annual Report (2013), “The mission of Southwest Airlines is dedication to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit.” Moreover, the company has expanded mission statement, “We are committed to quality service for the everyday person. Southwest provides air transportation to cities all around the United States. We fly the most luxurious planes on the market with the latest technology money can buy. We competitively provide the lowest airfare price in search for the greatest advantage in today’s busy world. We provide the...
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...weeks; as a result we have created a roadmap for success. Within our strategic plan we have conceptualized the Illusion Hall through the definition of the vision, mission, and values of the theater. With this, we understand the risk assume in pursuing a new business in a small town. Therefore, we have included a SWOTT analysis to reveal the strategic position of the Illusion Hall. The issues and opportunities revealed are addressed with the balanced scorecard and the four quadrants of finance, customer, process, and employee. Finally, we include the vital step of communication, implementation, and monitoring. Each part of the strategic plan is vital to the success of our endeavors with the Illusion Hall. Mission Statement Although the Illusion Hall is the only movie theater in a 60-mile radius, we understand this does not guarantee a competitive advantage or market share. The theater, therefore, needs to differentiate itself in the industry. The mission statement is a tool that can help us do this. A mission statement is “the unique purpose that sets a company apart from others of its type and identifies the scope of its operations in product, market, and technology terms” (Pearce & Robinson, 2009, p. 25). For the Illusion Hall, this means defining the companies place in the community. Therefore, the mission statement of the Illusion Hall is: We will provide exceptional entertainment through arts and culture where our guests can escape into their imaginations for a...
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...Pearson BTEC Level 5 HND Diploma in Business | Y/505/8182 Unit 7: Business Strategy | Student name / BTEC Registration Number | Assessor name | Nguyen Le Hien | F07-017 | | Learning Outcome | Learning outcome | Assessment Criteria | In this assessment you will have the opportunity to present evidence that shows you are able to: | Task no. | Evidence(Page no) | LO1 | Understand theprocess of strategicplanning | 1.1 | Assess how business missions, visions, objectives, goals and core competencies inform strategic planning | 1 | | | | 1.2 | Analyse the factors that have to be considered when formulating strategic plans | 1 | | | | 1.3 | Evaluate the effectiveness of techniques used when developing strategic business plans | 1 | | LO2 | Be able to formulate anew strategy | 2.1 | Analyse the strategic positioning of a given organisation by carrying out an organisationalaudit | 2 | | | | 2.2 | Carry out an environmental audit for a given organisation | 2 | | | | 2.3 | Assess the significance of stakeholder analysis when formulating new strategy | 2 | | | | 2.4 | Present a new strategy for a given organisation | 2 | | Date issued | Hand in deadline | Submitted on | | | | | | Assignment title | BS1: Strategic Planning and Formulation of New Strategy (1 of 2) | In this assessment you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence can be found. | Student declaration...
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... Group 1 Abstract Creative flavor names and quality products are just one part of Ben and Jerry’s, Inc. They are also deeply committed to economic and social causes, as stated in their three mission statements. Moving from selling ice cream in a little store on a corner to being distributed globally, Ben Cohen and Jerry Greenfield dedicated themselves and their company to create a corporation that is fully aware of the local and global environment. Upon examination of the events that occurred during the process, it becomes clear that Ben and Jerry successfully attempted to make their dream a reality. The American Dream lives on because of people like Ben and Jerry that will take a chance on something they believed in. The merger with Unilever, Inc. in 2000 caused some upset within the company, but with the election of the Board of Governors, their mission and employee commitment is stronger than ever. Table of Contents Title Page…………………………………………………………………...……1 Abstract....………………………………………………………………..………2 Table of Contents........................................................................................3 Chapter 1: Introduction………………………………………………………....4 Chapter 2: Description of research setting and the quality initiative……….6 Chapter 3: Analysis……………………………………………………………..8 Chapter 4: Outlining Findings……………………………………………..….12 Chapter 5: Summary and Recommendations………………………………13 References……………………………………………………………………...
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...Candidates are required to attempt all questions from Part A and 9 questions of Part B out of 12. ______________________________________________________________________ __ Section I MBA Syllabus (August 2005) Page 19 of 45 Definition, nature, scope, and importance of strategy; and strategic management (Business policy). Strategic decision-making. Process of strategic management and levels at which strategy operates. Role of strategists. Defining strategic intent: Vision, Mission, Business definition, Goals and Objectives. Internal Appraisal – The internal environment, organisational capabilities in various functional areas and Strategic Advantage Profile. Methods and techniques used for organisational appraisal (Value chain analysis, Financial and non financial analysis, historical analysis, Industry standards and benchmarking, Balanced scorecard and key factor rating). Identification of Critical Success Factors (CSF). Section II Environmental Appraisal—Concept of environment, components of environment (Economic, legal, social, political and technological). Environmental scanning techniques- ETOP, QUEST and SWOT (TOWS). Corporate level strategies-- Stability, Expansion, Retrenchment and Combination strategies. Corporate restructuring. Concept of Synergy. Business level strategies—Porter’s framework...
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...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. Strategic planning is the core of any business. Thompson, A.A., Strickland, A.J., & Gamble, J.E. (2010) Crafting and Executing Strategy: The quest for competitive advantage: Concepts and cases: 2009 custom edition (17th ed). Unlike business plans, there is no one right way to create effective strategic planning. It is, by definition, brainstorming at its best. Strategic planning involves "feel" just as much as it depends on management science. Since it depends on creativity and outside-the-box thinking, there is no perfect way to design a winning strategic plan. The more you understand your company, your industry, and your corporate "wish list," the better a winning strategic plan you'll create. Pearce, John, & Robinson, Richard Strategic Management 12th edition As critical as business planning is to the success of your company, all plans are useless unless followed by action. An additional side benefit of strategic planning is the natural action plan that stems from identifying your preferred strategy. While strategic planning involves your vision, mission and dreams, it also further defines...
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