Vision and Mission: Some Thoughts and Examples

Vision and Mission
Some thoughts and examples
Developing a Strategic Vision

Involves thinking strategically about
Firms future business plans
Where to go
Tasks include
Creating a roadmap of the future
Deciding future business
position to stake out

Providing long-term direction
Giving firm a strong identity
2
Characteristics of a Strategic Vision

Charts a companys future
strategic course
Defines the business makeup
for 5 years (or more)
Specifies future technologyproduct-customer focus
Indicates capabilities to be
developed
Requires managers to
exercise foresight
3
Entrepreneurial Challenges in
Forming a Strategic Vision
How to creatively prepare a company
for the future
How to keep the company responsive
to
Evolving customer needs

Competitive pressures
New technologies
New market opportunities
Growing or shrinking
opportunities
Missions vs. Strategic Visions

A mission statement
focuses on current
business activities -who we are and
what we do
Current
product and
service offerings
Customer needs
being served
Technological and
business capabilities
A strategic vision
concerns a firms future

business path -where we are going
Markets
to be pursued
Future technologyproduct-customer
focus
Kind of company that
management is
trying to create
5
Characteristics of a Mission Statement

Defines current business activities
Highlights boundaries of current business
Conveys
Who we are,
What we do, and
Where we are now
Company specific, not generic
so as to give a company its own identity

A companys mission is not to make a profit !
The real mission is alwaysWhat will we do to
make a profit?
6
Defining a Companys Business

A good business definition
incorporates three factors

Customer needs -- What is being
satisfied
Customer groups -- Who is
being satisfied
Technologies and competencies
employed -- How value is
delivered to customers to satisfy
their needs
7
Your MissionVision Statement

Should include the best of both
Communicating the VisionMission

An exciting, inspirational vision
Challenges and motivates workforce
Arouses strong sense of organizational
purpose
Induces employee buy-in
Galvanizes people to live the business
Managerial Value of a Well-Conceived

Strategic Vision and Mission
Crystallizes long-term direction
Reduces risk of rudderless
decision-
making
Conveys organizational
purpose and identity

Keeps direction-related actions of
lower-level managers on common path

Helps organization prepare for the
future
10
Examples
11
Examples: Mission and Vision Statements
Microsoft Corporation
Empower people
through great software
anytime, anyplace, and
on any device.
12
Intel
Our vision: Getting to a billion connected computers
worldwide, millions of servers, and trillions of dollars
of e-commerce. Intels core mission is being the
building block supplier to the Internet economy and
spurring efforts to make the Internet more useful.
Being connected is now at the center of peoples
computing experience. We are helping to expand the
capabilities of the PC platform and the Internet.
13
Otis Elevator
Our mission is to provide any customer a means
of moving people and things up, down, and
sideways over short distances with higher
reliability than any similar enterprise in the world.
Avis Rent-a-Car
Our business is renting cars. Our mission is total
customer satisfaction.
14
(a unique grocery store chain)

Our mission: To give our customers the best
food and beverage values that they can find
anywhere and to provide them with the
information required for informed buying
decisions. We provide these with a dedication to
the highest quality of customer satisfaction
delivered with a sense of warmth, friendliness,
fun, individual pride, and company spirit.
15
American Red Cross

The mission of the American Red Cross
is to improve the quality of human life;
to enhance self-reliance and concern for
others; and to help people avoid,
prepare for, and cope with emergencies.
16
3Com
Our mission is to connect more people and
organizations to information in more innovative,
simple, and reliable ways than any other
networking company in the world. Our vision of
pervasive networking is of a world where
connections are simpler, more powerful, more
affordable, more global, and more available to all.
17
Ritz-Carlton Hotels
The Ritz-Carlton Hotel is a place where the genuine
care and comfort of our guests is our highest mission.
We pledge to provide the finest personal service and
facilities for our guests who will always enjoy a warm,
relaxed yet refined ambiance.
The Ritz-Carlton experiences enlivens the senses,
instills well-being, and fulfills even the unexpressed
wishes and needs of our guests.
18
To be Americas best quick service restaurant chain. We

will provide each guest great tasting, healthful,
reasonably priced fish, seafood, and chicken in a fast,
friendly manner on every visit.
The mission is to extend and enhance human life by

providing the highest quality health and personal care
products. We intend to be the preeminent global
diversified health and personal care company.
19
Eastman Kodak
We are in the picture business.
Wit Capital
(an Internet startup company)

Our mission is to be the premier Internet
investment banking firm focused on the offering
and selling of securities to a community of online
individual investors.
20
More examples
21
Business Mission: Cardinal Health

Cardinal Health is a leading provider of
services supporting health care worldwide.

The company offers a broad array
of services for health-care providers

and manufacturers to help them improve
the efficiency and quality of health care.
These services include pharmaceutical distribution,
health-care product manufacturing and distribution,

drug delivery systems development, . . . , retail
pharmacy franchising, and health-care information
systems development.
22
Business Mission:
JDS Uniphase is the leading provider of advanced fiber
optic components and modules.

These products are sold to the worlds
telecommunications and cable

providers . . .
leading
television system
Our products perform both optical-only functions and
optoelectronic functions within fiber option networks.

Our products include semiconductor lasers, . . . , and
isolators for fiber optic applications.

In addition, we design, manufacture, and market laser
subsystems for a broad range of OEM applications,

which include . . .
23
Business Mission: Russell Corp.

Russell Corporation is a vertically integrated
international designer, manufacturer, and marketer

of athletic uniforms, . . . , and a comprehensive line
of lightweight, yarn-dyed woven fabrics.
The Companys manufacturing operations include
the entire process of converting raw fibers into

finished apparel and fabrics.
Products are marketed to sporting goods
dealers, department and specialty

stores, mass merchandisers, . . . ,
and other apparel manufacturers.
24
Business Mission: The McGraw Hill Companies

(a diversified firm)
The McGraw-Hill Companies is a global publishing,
financial, information and media services company with

such renowned brands as Standard & Poors, Business
Week, and McGraw-Hill educational
and
professional materials.
The Company provides information via various media
platforms: books, magazines and newsletters; on-line;

via television, satellite and FM sideband broadcast; and
software, videotape, facsimile and CD-ROM products.
The Company now creates more than 90 % of its
information on digital platforms and its business

are represented on more than 75 Web sites.
units
25
Business Mission: FDX Corporation

(a diversified firm)
FDX is composed of a powerful family of companies:
FedEx, RPS, Viking Freight, FDX Global Logistics and

Roberts Express.
These companies offer logistics and distribution
solutions on a regional, national and global scale: fast,

reliable, time-definite express delivery; . . . expedited
same-day delivery; . . . ; and integrated information and
logistics solutions
With all this expertise under one umbrella, the FDX
companies can provide businesses with

competitive advantage they need by
streamlined solutions that are
cutting edge of technology.
the
providing
on the
26
Example: Mission Statement
Pfizer Inc.
Pfizer is a research-based, global pharmaceutical
company.
We discover and develop innovative, value-added
products that improve the quality of life of people
around the world and help them enjoy longer, healthier,
and more productive lives.
The company has three business segments: health
care, animal health and consumer health care. Our
products are available in more than 150 countries.
27
Apple Computer
Apple Computer, Inc., ignited the personal computer
revolution in the 1970s with the Apple II, and reinvented
the personal computer in the 1980s with the Macintosh.
Apple is now committed to its original mission--to
bring the best personal computing products and
support to students, educators, designers, scientists,
engineers, business persons and consumers in over
140 countries around the world.
28
The Gillette Company

The Gillette Company is a globally focused consumer
products company that seeks competitive advantage in
quality, value-added personal care and personal use
products. We compete in four large, worldwide businesses:
personal grooming products, consumer portable power
products, stationery products and small electrical
appliances.
As a company, we share skills and resources among
business units to optimize performance. We are committed
to a plan of sustained sales and profit growth that
recognizes and balances both short- and long-term
objectives.
29
The Gillette Company

Our mission is to achieve or enhance clear leadership, worldwide, in
the existing or new core consumer product categories in which we
choose to compete. Current core categories are:
Male grooming products - blades and razors, electric shavers,
shaving preparations and deodorants . . .
Female grooming products - wet shaving products, hair removal
and hair care appliances and deodorants . . .
Alkaline and specialty batteries and cells.
Writing instruments and correction products.
Certain areas of the oral care market - toothbrushes . . .
Selected areas of the high-quality small household appliance
business - coffeemakers . . .
30

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Vision and Mission

Some thoughts and examples

Developing a Strategic Vision

position to stake out

Characteristics of a Strategic Vision

for the future

How to keep the company responsive

Evolving customer needs

Missions vs. Strategic Visions

concerns a firms future

Characteristics of a Mission Statement

so as to give a company its own identity

Defining a Companys Business

incorporates three factors

Your MissionVision Statement

Communicating the VisionMission

Managerial Value of a Well-Conceived

purpose and identity

lower-level managers on common path

Examples: Mission and Vision Statements

Examples: Mission and Vision Statements

Examples: Mission and Vision Statements

Examples: Mission and Vision Statements

(a unique grocery store chain)

Examples: Mission and Vision Statements

American Red Cross

Examples: Mission and Vision Statements

Examples: Mission and Vision Statements

Examples: Mission and Vision Statements

To be Americas best quick service restaurant chain. We

The mission is to extend and enhance human life by

Examples: Mission and Vision Statements

(an Internet startup company)

Business Mission: Cardinal Health

services supporting health care worldwide.

of services for health-care providers

health-care product manufacturing and distribution,

optic components and modules.

telecommunications and cable

Our products perform both optical-only functions and

optoelectronic functions within fiber option networks.

isolators for fiber optic applications.

subsystems for a broad range of OEM applications,

Business Mission: Russell Corp.

international designer, manufacturer, and marketer

the entire process of converting raw fibers into

dealers, department and specialty

Business Mission: The McGraw Hill Companies

financial, information and media services company with

platforms: books, magazines and newsletters; on-line;

information on digital platforms and its business

Business Mission: FDX Corporation

FedEx, RPS, Viking Freight, FDX Global Logistics and

solutions on a regional, national and global scale: fast,

companies can provide businesses with

Example: Mission Statement

Example: Mission Statement

Example: Mission Statement