Chapter 2: The Business Vision and Mission

CHAPTER 2 THE BUSINESS VISION AND MISSION
I. WHAT DO WE WANT TO BECOME?

It is especially important for managers and executives in any organization to agree on the basic vision that the firm strives to achieve in the long term. A. Importance of a Vision Statement 1. A vision statement should answer the basic question, “What do we want to become?” A clear vision provides the foundation for developing a comprehensive mission statement. 2. Many organizations have both a vision and a mission statement, but the vision statement should be established first and foremost. a. The vision statement should be short, preferably one sentence, and as many managers as possible should have input into developing the statement. b. The next table provides examples of several vision statements.

Tyson Foods’ vision is to be the world’s first choice for protein solutions while maximizing shareholder value.

General Motors’ vision is to be the world leader in transportation products and related services.

PepsiCo’s responsibility is to continually improve all aspects of the world in which we operate – environment, social, economic – creating a better tomorrow than today.

Dell’s vision is to create a company culture where environmental excellence is second nature.

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Chapter 2: The Business Vision and Mission

II.

WHAT IS OUR BUSINESS? A. Mission Statements 1. Peter Drucker says that asking the question, “What is our business?” is synonymous with asking the question, “What is our mission?” 2. A mission is an enduring statement of purpose that distinguishes one organization from other similar enterprises. The mission statement is a declaration of an organization’s “reason for being.” 3. Sometimes called a creed statement, a statement of purpose, a statement of philosophy, a statement of beliefs, a statement of