Group 1 - Topic Business Mission and Vision version2.pdf

BUSINESS MISSION AND VISION Strategic Management Group 1 Asuro, Skervald II G. Buenavista, Jezter G. Diez, Prich Jayrald S. Santacera, Ian Jori G BSA 4-B. Mission A mission statement communicates and lays out the organization’s reason and purpose fo...

BUSINESS MISSION AND VISION Strategic Management Group 1 Asuro, Skervald II G. Buenavista, Jezter G. Diez, Prich Jayrald S. Santacera, Ian Jori G BSA 4-B. Mission A mission statement communicates and lays out the organization’s reason and purpose for being. A mission statement defines the organization’s business, its objectives, and how it will reach these objectives. Publisher, A. R. a. R. O. O. (2015, October 27). 4.3 The roles of mission, vision, and values. Pressbooks. https://open.lib.umn.edu Vision A vision statement details where the organization aspires to go. A vision statement is an expression of what a business’s founders want that business to accomplish. The vision statement does not describe the strategy a firm will use to follow its vision—it is simply a sentence or two that states why the business exists. Bright, D. S., & Cortes, A. H. (2019, March 20). 9.2 Firm Vision and Mission - Principles of Management | OpenStax. https://openstax.org Process of Developing Mission and Vision Statements Select Prepare Articles Individually Modify and Merge into a Revise single document Discussion Groups  The Importance of Mission and Vision Statements 1. To make sure all employees/managers understand the firm’s purpose or reason for being 2. To provide a basis for prioritization of key internal and external factors utilized to formulate feasible strategies  The Importance of Mission and Vision Statements 3. To provide a basis for the allocation of resources 4. To provide a basis for organizing work, departments, activities, and segments around a common purpose  Characteristics of a Mission Statement 1. Broad in Scope 2. Fewer than 150 words in length 3. Inspiring 4. Identifies the utility of a firm’s product 5. Reveals that the firm is socially responsible  Characteristics of a Mission Statement 6. Reveals that the firm is environmentally responsible 7. Includes nine components 8. Reconciliatory 9. Enduring  9 Components Products or Customer Markets Services Concern for Technology survival/ Philosophy growth/profits Concern for Concern for Self-Concept Public Image Employees Ice Breaker !!!! Recite the mission and vision of the University of San Agustin  The University of San Agustin is an Augustinian, Catholic and Filipino educational institution that aims to form the members of its academic community in Virtus et Scientia to serve Western Visayas, the Philippines, and the world.  A premier academic community of life – long learners working with one mind and one heart to search for, discover and share the Truth for the promotion of Authentic human and societal development. 10 Benefits of Having a Clear Mission and Vision 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 ogranized, motivated organization worthy of support. 9. Achieve higher organizational performance. 10. Achieve synergy among all managers and employees. Writing and Evaluating Mission Statements How does the Mission and Vision align with Strategy? Mission Strategy Vision CONCLUSION THANK YOU!