CHAPTER 2:

1.1 Vision and mission statements

The vision and mission statement acts as the foundation of a company that will shape the
direction that a company wants to be.

Vision : Vision statement answers the question - “What do we want to become?” A clear vision
provides foundation for comprehensive mission statement.

Mission : Mission statement answers the question - “What is our business?”

Vision - internal assessment

Mission - external assessment

Mission Statement:

o Enduring statement of purpose

o Distinguishes one organization from another in similar enterprises
o Declaration of an organization’s “reason for being”

Mission Statements also referred to as:

o Creed statement
o Statement of purpose
o Statement of philosophy
o Statement of business principles

There are nine main elements that should be focused on in order to cover wide aspect of
consideration for a working objective of a company. These nine elements are:

1) Customers – Who are the main customer for the company?

2) Products and services – What are the products and or services that the company offer?

3) Markets – Geographically, where does the firm compete?

4) Technology – How current is the technology possessed by the company?

 5) Concern for growth, survival and profitability – Is the company committed to being in
a financial soundness?

6) Philosophy – What are the company beliefs and priorities of the firm?

7) Self concept – What is the major advantage or competence that the company has?

8) Concern for public image – Firm responsiveness towards social, community and
environmental control?

9) Concern for employee – Are employee valuable asset to the company?

EXAMPLE MISSION STATEMENT:

Ben & Jerry’s mission is to make, distribute and sell the finest quality all-natural ice cream and
related products in a wide variety of innovative flavors made from Vermont dairy products.
To operate the Company on a sound financial basis of profitable growth, increasing value for
our shareholders, and creating career opportunities and financial rewards for our employees.
To operate the Company in a way that actively recognizes the central role that business plays
in the structure of society by initiating innovative ways to improve the quality of life of a broad
community—local, national and international.