week 5 Flashcards
What is our business?
Mission Statement
define what the organization is and what
the organization aspires to be;
Mission Statement
be limited enough to exclude some
ventures and broad enough to allow for
creative growth;
Mission Statement
distinguish a given organization from all
others;
Mission Statement
serve as a framework for evaluating both
current and prospective activities; and
Mission Statement
be stated in terms sufficiently clear to be widely understood throughout the organization.
Mission Statement
Mission statement is a broad in_____
scope
Mission statement is less than ________ words in length
250
it refers to inspiring
Mission Statement
Ø Identify the utility of a firm’s product
Ø Reveal the firm is socially responsible
Ø Reveal that the firm is environmentally responsible
Ø include _____ components
nine
Mission statement
Ø Reconciliatory
Mission Statement
Nine Essential Components of a Mission Statement
- Customers
- Products or services
- markets
- technology
- concern for survival, growth and profitability
- philosophy
- self-concept
- concern for public image
- concern for employees
Ø Enduring
Mission Statement
Who are the firm’s customers?
customers
– What are the firm’s major
products or services?
Products or services
Geographically, where does the firm
compete?
Markets
– Is the firm technology current?
Technology
– is the firm committed to growth and financial soundness?
Concern for survival, growth and profitability
What are the basic beliefs, values,
aspirations, and ethical priorities of the firm?
Philosophy
– What is the firm’s distinctive
competence or major competitive advantage?
Self-concept
– Is the firm responsive to social, community, and environmental concern?
Concern for public image
– Are employees a valuable asset of the firm?
Concern for employees
“We believe our first responsibility is to the doctors, nurses, patients, mothers, and all others who use our products and services.”
(Johnson & Johnson)
Customers
“Standard Oil Company (Indiana) is in business to find and produce crude oil, natural gas, and natural gas liquids; to manufacture high-quality products useful to
society from these raw materials.”
(Standard Oil Company)
Products and Services
“We are dedicated to the total success of Corning Glass Works as a worldwide competitor.”
(Corning Glass Works)
Markets
“We will continually strive to meet the preferences of adult smokers by developing technologies that have the potential to reduce the health risks associated with smoking.”
(RJ Reynolds)
Technology
“To serve the worldwide need for knowledge at a fair profit by adhering, evaluating, producing, and distributing valuable information in a way that benefits
our customers, employees, other investors, and our society.”
(McGraw-Hill)
Concern for Survival, Growth and Profitability
“Our world-class leadership is dedicated to a
management philosophy that holds people above profits.”
(Kellogg)
Philosophy
“Crown Zellerbach is committed to leapfrogging (paglukso) ongoing competition within 1,000 days by unleashing the constructive and creative abilities and
energies of each of its employees.”
(Crown Zellerbach)
Self-Concept
“To share the world’s obligation for the protection of the environment.”
(Dow Chemical)
Concern for Public Image
“To compensate its employees with remuneration and fringe benefits competitive with other employment opportunities in its geographical area and commensurate with their contributions toward efficient corporate operations. (Public Service Electric & Gas Company)
Concern for Employees
We aspire to make _________ the world’s (3)
premier consumer products company, focused on convenient foods and beverages (2).
We seek to produce healthy financial rewards for investors (5) as we provide opportunities for growth and enrichment to our employees (9), our business partners and the communities (8) in which we operate.
And in everything we do, we strive to act with honesty, openness, fairness and integrity (6).
PepsiCo
________ mission is to be the most successful
computer company (2) in the world (3) at
delivering the best customer experience in
markets we serve (1).
In doing so, Dell will meet customer expectations of highest quality;
leading technology (4); competitive pricing;
individual and company accountability (6); best-in-class service and support (7); flexible customization capability (7); superior corporate citizenship (8); financial stability (5).
Dell’s
___________________ will provide branded products and services of superior quality and value (7) that improve the l ives of the world’s (3) consumers.
As a result, consumers (1) will reward
us with industry leadership in sales, profit (5), and value creation, allowing our people (9), our shareholders, and the communities (8) in which we live and work to prosper.
Procter & Gamble
At __________, we believe that lasting business
success is built upon ethical (6) standards which guide growth and on a genuine sense of responsibility to our employees (9), our
consumers, our environment, and to the
communities in which we operate (8).
L’Oreal
