Week2 - Strategic Mission

Question 1

Mission definition (Campbell et al 1990) and the Simon Sinek Golden Circle?

Answer 1

Mission - “an organisation’s character, identity and reason for existence” (Campbell et al. 1990).

Simon Sinek’s Golden Circle:
1 - Why do we do what we do? Purpose?
2 - How do we do what we do?
3 - What do we do?

Question 2

What is a Vision (Campbell & Yeung, 1991)?

Answer 2

The future state of the organisation and how to get there? (Campbell & Young, 1991).

Question 3

What is Strategic Intent?

Answer 3

Combines mission and vision. Brings together the objectives, purpose and plans in a way to achieve the vision of the organisation (Campbell & Yeung, 1991).

Question 4

How draw up a mission statement? Questions to ask about the organisation?

Answer 4

1 - What is the area of activity and what should it be?
2 - What kind of organisation do we wish to be?
3 - What is the importance of share/stakeholders?
4 - Do we want to grow the organisation?
5 - What is our relationships with our environment + society?
6 - How do we bring all of these considerations together?

Question 5

Ashridge’s Mission Model + benefits of the Model

Answer 5

1. Strategy - How do we meet our purpose?
2. Purpose - Why does the firm exist?
3. Standards & Behaviours - How do we do things?
4. Values - What are the beliefs

Adv. - Ashridge’s model combines strategy & cultures to analyse + build a mission statement.

Question 6

What is the content of a Mission Statement? (Hooley et al. 1992)

Answer 6

• Market definition.
• Strategic Intent.
• Company values.
• Distinctive competencies.
• Competitive Positioning within the market.

Question 7

What are drawbacks of mission statements?

Answer 7

X - Not always supported by business actions.
X - Vague
X - State the obvious?
X - Just a PR exercise?
X - Not true?

Question 8

Good company example of Mission Statement. Why is it good?

Answer 8

IKEA:
To offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them.

• Specific enough to connect with individual employees.
• Reflect distinct advantages of IKEA
• Realistic
• Attainable
• Flexible

Question 9

Bad company example of Mission Statement. Why is it bad?

Answer 9

ASOS:
Become the world’s number one destination for fashion-loving-20-somethings.

• Not specific to connect with individual employees.
• Could be any fashion business in the industry (not specific).
• Vague.

Question 10

Kawasaki’s MANTRA, not mission. 2 Company examples + definition.

Answer 10

” A guiding principle that supports your values, informs your decisions and inspires action throughout the life of the business”.

Nike - “Authentic Athletic Performance”.
Coca Cola - “To refresh the world”.

Question 11

Benefits of using a Mantra (Kawasaki).

Answer 11

Short, snappy, memorable.

What the employee stands for.

Can be used alongside a mission statement but offers a snapshot of the company.