Chapter 5

Question 1

What is the difference between a vision statement and a mission statement?

Answer 1

vision - the future, sets the direction, where you want to be, what you stand for
mission - current state, where you are, what you are doing, what you need, strengths/uniqueness

Question 2

What 7 characteristics are in the vision statement checklist?

Answer 2

• clear, vivid picture of the future of organization
• challenging
• hopeful
• memorable
• realistic
• achievable
• guides long-term decisions

Question 3

What 6 characteristics are in the mission statement checklist?

Answer 3

• provides a clear statement of purpose and priority
• reflects values and beliefs (culture) of the organizations
• presents unique attributes of the organization
• infers the roles of stakeholders
• generates commitment and pride in the organization
• is consistence with legal and corporate requirements

Question 4

What are the three types of goals included in any strategic planning?

Answer 4

• horizon goals (broad, less specific, over the course of the overall time span, typically years)
• near-term goals (expected in the next operating cycle, typically 1 year, are progress points towards horizon goals)
• target goals (very short-term, action to be accomplished in days/weeks)

Question 5

What are SMART goals?

Answer 5

• Specific
• Measurable
• Action-oriented
• Realistic
• Timebound