PPT 5 Flashcards
What are the 3 components of Strategic Intent?
Vision, Mission, Business Definition.
What is the Vision in Strategic Intent?
The vision is the dream of the entrepreneur—a vivid description of what the company dreams to be, offering clarity, hope, and unity of purpose.
What role do values play in a company’s vision?
Values are the essential, timeless ingredients of the vision that define the organization’s enduring character, even in the face of technological or competitive changes.
What is an example of a company’s vision?
Du Pont’s vision: “Develop immortal polymers, zero waste processes, materials that repair themselves, chemical plants run by a single chip, coatings that change color on demand.”
What is the Mission in Strategic Intent?
The mission expresses what the company is and why it exists—it’s an abstract, zealous statement guiding the company’s growth and planning efforts.
How is the mission different from the vision?
While the vision describes what a company dreams to be, the mission reflects the company’s current identity and purpose, and is more time-bound in guiding actions.
What is an example of a company’s mission?
Unilever’s mission: “To make cleanliness commonplace, lessen work for women, foster health, and contribute to personal attractiveness so life may be more enjoyable for people who use our products.”
What is Business Definition in Strategic Intent?
Business definition provides the blueprint for a firm’s product-market choices, clarifying opportunities, threats, and the areas in which to look for opportunities.
How does Theodore Levitt define businesses?
Levitt argues for market definitions over product definitions, as a narrow, product-oriented perspective can lead to obsolescence and miss competitive threats.
What is an example of a narrow business definition?
A product-oriented business definition that forecloses the option for wider opportunities and makes a company vulnerable to substitute products.
