Week 2 - Lecture 1

Question 1

Mission Statement definition

Answer 1

Concise summary of organisation purpose, why it exists, who it serves and what is offered.

Question 2

Mission statements purpose

Answer 2

guide internal decision making and sets expectations for stakeholders.

Question 3

Mission statements characteristics

Answer 3

Specificity (define main activities) and Inspiration (motivating)

Question 4

Vision statement definitions

Answer 4

Expresses long term aspirations describing desired future state, aim to achieve, long term direction thinking

Question 5

Vision statements characteristics

Answer 5

Forward looking, Aspirational (motivating for challenging goals)

Question 6

Impact of culture of m/v statements

Answer 6

Cohesive work environment, employees aligned with company’s goals, Crucial role as they uphold and reinforce shared values through actions and communication.

Question 7

Integration with m/v statements

Answer 7

mission, vision and values must be consistent and aligned providing clear strategic direction, if not can create confusion and distrust, Integration of elements forms foundation of a company’s long term strategy, guiding decisions.