The Business Vision & Mission

Presented by:

Raghda Elliethy

Amany Yehia

What Do We Want to Become?

A clear vision provides the foundation for developing a comprehensive mission statement.

Examples

Massachusetts Division of Banks

Vision statement

To protect the public interest, ensure competition, accessibility and fairness within the relevant financial services industries, respond innovatively to a rapidly changing environment, and foster a positive impact on the Commonwealths economy.
Mission Statement To maintain a safe and sound competitive banking and financial services environment throughout the Commonwealth and ensure complains with community reinvestment and consumer protection laws by chartering, licensing, and supervising state regulated financial institutions in a professional and innovative manner.

Manley Baptist Church

Vision statement To be the people of God, on mission with God, motivated by a love for God, and a love for others. Mission Statement To help people in the lakeway area become fully developed followers of Jesus Christ.

U.S. Poultry & Egg Association

Vision statement

A national organization which represents its members in all aspects of poultry and eggs on both a national and an international level.
Mission Statement

1. We will partner with our affiliated state organizations to attack common problems.
2. We are committed to the advancement of all areas of research and education in

poultry technology.
3. The International Poultry Exposition must continue to grow and be beneficial to

both exhibitors and attendees.

4. We must always be responsive and effective to the changing needs of our industry.

5. Our imperatives must be such that we do not duplicate the efforts of our sister

organizations.
6. We will strive to constantly improve the quality and safety of poultry products. 7. We will continue to increase the availability of poultry products.

What Is Our Business?

Mission statement reveals what an organization wants to be and whom it wants to serve? A business mission is the foundation for priorities, strategies, plans, and work assignments.

Some companies develop mission statements simply because they feel it is fashionable.

A Comprehensive Strategic-Management Model

Vision Vs. Mission

Where as the mission statement answers the question What is our business?, the vision statement answers the question What do we want to become? Vision and mission statements can be found in the front of annual reports. They often are displayed throughout a firms premises and are distributed with company information sent to constituencies.

Shared vision between employees and managers- creates a commonality of interests that can lift workers out of the monotony of daily work and put them into a world of opportunity and challenge.

The Process of Developing a Mission Statement

1. Select as many managers as possible in the process of developing a mission statement. 2. Select several articles about mission statements and ask all managers to read these as background information. 3. Ask managers themselves to prepare a mission statement for the organization. 4. Top managers should merge these statements into a single document and distribute this draft mission statement to all managers.

5. Modifications, additions, and deletions, along with a meeting to revise the document.
Some organizations hire an outside consultant or facilitator to manage the process and help draft the language.

Importance of Vision And Mission Statements

1. To Ensure Unanimity of purpose within the Organization. 2. To provide a basis ,or standard for allocating organization resources . 3. To establish a general tone or organizational climate. 4. To serve as a focal point for individuals to identify the organizations purpose and direction, and to deter those who cannot from participating further in the organizations activities. 5. To facilitate the translation of objectives into a work structure involving the assignment of tasks to responsible elements within the organization. 6. To specify organizational purposes and then to translate these purposes into objectives in such away that cost, time, and performance parameters can be assessed and controlled.

Characteristics of A Mission Statement

A declaration of Attitude

1. It is a declaration of attitude and outlook.

2. It is broad in scope for two major reasons: a. A good mission statement allows for the generation and consideration of a range of feasible alternative objectives and strategies without stifling management creativity. b. A mission statement needs to be broad to effectively reconcile differences among, and appeal to, an organizations diverse stakeholders. 3. A good mission statement should not be neither too specified nor overly general.

4. A good mission statement indicates the relative attention that an organization will devote to meeting the claims of various stakeholders. 5. An effective mission statement should not be too lengthy less than 200 words.

6. An effective mission statement generates the impression that a firm is successful, has direction, and is worthy of time, support, and investment.
7. An effective mission statement arouses positive feelings and emotions about an organization.

A Customer Orientation A mission statement should: 1. Define what the organization is and what the organizations aspires to be. 2. Be limited enough to exclude some ventures and broad enough to allow for creative growth. 3. Distinguish a given organization from all others. 4. Serve as a framework for evaluating both current and prospective activities.

5. Be stated in terms sufficiently clear to be widely understood throughout the organization.

6. Reflects the anticipations of customers. Rather than developing a product and then trying to find a market.

7. Identify the utility of a firms products to its customers.

A Declaration of Social Policy Social policy embraces managerial philosophy and thinking at the highest levels of an organization. Social policy affects the development of a business mission statement. Social polices directly affect a firms customers, products and services, markets, technology, profitability, self-concept, and public image.

Mission Statement Components

1. Customers
We believe our first responsibility is to the doctors, nurses, patients, mothers, and all others who use our products and services. Johnson & Johnson

2. Products or Services
AMAXs principal products are molybdenum, coal, iron ore, copper, lead, zinc, petroleum and natural gas, potash, phosphates, nickel, tungsten, silver, gold, and magnesium. AMAX Engineering Company

3. Markets
We are dedicated to the total success of Corning Glass Works as a worldwide competitor. Corning Glass Works

4. Technology
We will continually strive to meet the preferences of adult smokers by developing technologies that have the potential to reduce the health risks associated with smoking. RJ Reynolds

5. Concern for survival, growth, and profitability

In this respect, the company will conduct its operations prudently and will provide the profits and growth which will assure Hoovers ultimate success. Hover Universal

6. Philosophy
Our world-class leadership is dedicated to a management philosophy the holds people above profits. Kellogg

7. Self-concept
Crown Zellerbach is committed to leapfrogging competition within 1,000 days by unleashing the constructive and creative abilities and energies of each of its employees. Mary Kay Cosmetics

8. Concern for public image

To share the worlds obligation for the protection of the environment. Dow Chemical

9. Concern for employees

To compensate its employees with remuneration and fringe benefits competitive with other employment opportunities in its geographical area and commensurate with their contributions toward efficient corporate operations. Public Service Electric & Gas Company

Writing And Evaluating Mission Statements

Comparison Between Tow Mission Statements

PepsiCo To increase the value of our shareholders investment. We do this through sales growth, cost controls, and wise investment resources. We believe our commercial success depend upon offering quality and value to our consumers and customers; providing products that are safe, wholesome, economically efficient, and environmentally sound; and providing a fair return to our investors while adhering to the highest standards of integrity.

Dell Computer To be the most successful computer company in the world at delivering the best customer experience in markets we serve. In doing so, Dell will meet consumer expectations of highest quality; leading technology; competitive pricing; individual and company accountability; best-in-class service and support; flexible customization capability; superior corporate citizenship; financial stability.

An Evaluation Matrix of Mission Statements

Concern for Survival, Growth, Profitability Yes Yes

Organization

Customers

Products/ Services

Markets

Technology

Philosophy

SelfConcept

Concern for Public Image No Yes

Concern for Employees No No

PepsiCo Dell Computer

Yes Yes

No Yes

No Yes

No Yes

Yes No

No Yes