Strategic Management - Updated
Strategic Management - Updated
Strategic Management - Updated
Introduction
Business simulation -
2
Vision and Mission
Statements - a
Roadmap of Where
You Want to Go and
How to Get There
VISION (THE DREAM)
• Big picture of what you want to achieve
• An organization’s vision is what it wants to be known
for at some point in the future (5-10+ years)
• They are a simple statement that describes the
future
• A Vision Statement describes the desired future
position of the company
Great Vision Statement Examples
• “To be the fastest growing, most rewarding and most transformative
leadership community.” – Mandala Leaders
• To be the best quick service restaurant experience. Being the best means
providing outstanding quality, service, cleanliness, and value, so that we
make every customer in every restaurant smile.” – McDonald’s
• To be globally significant in each of our chosen businesses by 2025. Tata
International Ltd
Vision of reliance group
– To build a global enterprise for all our stakeholders, and
– A great future for our country,
– To give millions of young Indians the power to shape their destiny,
– The means to realize their full potential (http://www.relianceada.com/vision)
Mission (THE WHAT AND WHY)
• Developing mission statements are the next step in the action
planning process.
• An organization's mission statement describes what the group is
going to do, and why it's going to do that.
• Mission statements are similar to vision statements, but they're
more concrete, and they are definitely more "action-oriented" than
vision statements.
• The mission might refer to a problem, such as an inadequate
housing, or a goal, such as providing access to health care for
everyone.
• And, while they don't go into a lot of detail, they start to hint - very
broadly - at how your organization might go about fixing the
problems it has noted.
The Starbucks mission statement describes six guiding
principles that, as you can see, also communicate the
organization’s values
https://www.ted.com/talks/martin_reeves_your_strategy_needs_a_strategy
https://www.ted.com/talks/martin_reeves_how_to_build_a_business_that_lasts
_100_years