Mission statements vary widely from one company to another. One mission statement could be better than another. Using the Internet, find the mission statements of three different organizations, which can be business or not-for profit.(They can often be found via a link on a company’s Web page ) Which mission statement you find the best among the three? Why? You can evaluate the mission statement using the following questions.( Write mission statements of three companies but evaluate only the one which you find best. )
Does the statement describe an inspiring purpose that avoids playing to the selfish interests of the stakeholders?
Mention the scope of the mission statement( Broad vs Narrow)
Does the statement describe the company’s responsibility to its stakeholders?
Does the statement define a business domain and explain why it is attractive?
Does the statement describe the strategic positioning that the company prefers in a way that helps to identify the sort of competitive advantage it will look for?
Does the statement identify values that link with the organization’s purpose and act as beliefs with which employees can feel proud?
Do the values resonate with and reinforce the organization’s strategy?
Does the statement describe important behaviour standards that serve as beacons of the strategy and the values?
Are the behavior standards described in a way that enables individual employees to judge whether they are behaving correctly?
Does the statement give a portrait of the company, capturing the culture of the organization?
Is the statement easy to read?
Learning Outcome:
Students will understand the scope of mission.
Students will learn the importance of mission in shaping strategy.
They will understand the importance of determining the company’s direction.
Mission is to the company what a compass is to an explorer. It will provide the students a framework for decision making.
Students are expected to learn how a clear mission can facilitate in evaluation and overall improvement.
1b. Imagine yourself to be a strategist of a real company. Select the company in an industry of your choice.
A strategist can analyze any industry by rating each competitive force as high, medium or low in strength.
In carefully scanning its industry, a corporation must assess the importance to its success of each of the following six forces. The first five are Porter’s 5 Forces Driving Industry Competition. The last one is added to reflect the power that governments, local communities, and other groups from the task environment wield over industry activities.
Threat of new entrants
Rivalry among existing firms
Threat of substitute products/services
Bargaining power of buyers
Bargaining power of suppliers and
Relative power of other stakeholders
Based on current trends in each of these competitive forces, analyze the competitive intensity and interpret the results.
Learning Outcome:
Students will get an opportunity to:
Recognize aspects of an organization’s environment that can influence its long-term decisions
Identify the aspects of an organization’s environment that are most strategically important
Conduct an industry analysis to understand the competitive forces that influence the intensity of rivalry within an industry
Understand how industry maturity affects industry competitive forces
please be sure it is correct answers