STRATEGIC MANAGEMENT

STRATEGIC MANAGEMENTCHAPTER 2THE BUSINESS VISION AND MISSION1FRIENDS

Amanisaudah YahayaNur Arfarezza AhmadNur Shazwa Amani OzmanNorhaniza Ab RahmanNatasha MusaNik Nurmailatul Aqma Mohd TermidziNur Hazimah Bt Mahamad PoziShairah Mat TahirNur Anis Munirah Elias2 CONTENTS PAGES 1.0LEARNING OUTCOMES 4

2.0VISION STATEMENT 5

2.1EXAMPLES7

3.0MISSION STATEMENT10

3.1EXAMPLES123.2MISSION VS VISION153.3CHARACTHERISTICS163.4COMPONENTS173.4.1EXAMPLE OF COMPONENTS 18

4.0PROCESS OF DEVELOPING MISSION AND VISION205.0BENEFITS OF MISSION AND VISION216.0CASE STUDY227.0PAST YEAR QUESTIONS 28

31.0 LEARNING OUTCOMESDescribe the nature and role of vision and mission statements in strategic management.Discuss why the process of developing a mission statement is as important as the resulting document.Identify the components of mission statements.Discuss how clear vision and mission statements can benefit other strategic-management activities.Evaluate mission statements of different organizations.Write good vision and mission statements.42.0 VISION STATEMENTShould be established first and foremost.ShortPreferably one sentenceAs many managers as possible should have input into developing the statement.

WHAT DO WE WANT TO BECOME?56VisionComprehensiveMission StatementClear Business Vision2.1 VISION STATEMENT EXAMPLES

Tyson Foods vision is to be the worlds first choice for protein solutions while maximizing shareholder value.

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General Motors vision is to be the world leader in transportation products and related services.

8Simple example9

Kerepeks company vision is to be the largest kerepek company in the world.

3.0 MISSION STATEMENT10MISSION STATEMENTA declaration of an organizations reason for being.Essential for effectively establishing objectives and formulating strategies.Reveals what an organization wants to be and whom it wants to serve

WHAT IS OUR BUSINESS?113.1 Example of missions12

Proctor & Gamble will provide branded products and services of superior quality and value that improve the lives of the worlds consumers. As a result, consumers will reward us with industry leadership in sales, profit, and value creation, allowing our people, our shareholders, and the communities in which we live and work to prosper. 13

At LOreal, we believe that lasting business success is built upon ethical standards which guide growth and on a genuine sense of responsibility to our employees, our consumers, our environment and to the communities in which we operate. Simple example 14

Kerepeks company mission is to prepare the best, delicious, nutritious and affordable kerepek.143.2 VISION VS MISSIONVISION STATEMENTMISSION STATEMENT15

Kerepeks company mission is to prepare the best, delicious, nutritious and affordable kerepek.

Kerepeks company vision is to be the largest kerepek company in the world.

3.3 CHARACTERISTICS OF MISSION STATEMENT

163.4 STATEMENT COMPONENTS173.4.1 Example of component 18visionApple is commited to bringing the best personal computing experience to students ,educators,creative professionals and consumers around the world through its innovative hardware,software and internet offerings.missionApple is committed to protecting the environment,health and safety of our employees,customers and the global communities where we operate.We recognize that by integrating sound environmental , health and safety management practices into all aspects of our business,we can offer technologically innovative products and services while conserving and enhancing recourses for future generations.Example of componentApple is commited to bringing the best personal computing experience to students ,educators,creative professionals and consumers.(CUSTOMERS)around the world through its innovative hardware,software and internet offerings. (TECHNOLOGY)Apple is committed to protecting the environment,health and safety of our employees,customers and the global communities. (CONCERN FOR PUBLIC IMAGE)recognize that by integrating sound environmental , health and safety management practices into all aspects of our business. (PHILOSOPHY)offer technologically innovative products and services while conserving and enhancing recourses for future generations. ( PRODUCTS AND SERVICES)

194.0 PROCESS OF DEVELOPING VISION AND MISSION STATEMENTS205.0 BENEFITS OF HAVING CLEAR VISION AND MISSION

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6.0 CASE STUDY

2222TYPE OF BRANDFood and drinks

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242. Home Care

253. Personal CareVISIONUnilever products touch the lives of people every day26MISSIONOur mission is to add vitality to life. We meet everyday needs for nutrition, hygiene and personal care with brands that help people look good, feel good and get more out of life.

277.0 PAST YEAR QUESTIONS28JUNE 2014PART B - QUESTION 2

Compare and contrast vision and mission of an organization in terms of its relevance and importance for strategic management.20 MARKS29MISSION STATEMENTdescribe what an organization doesdefines the purpose and objectives related to customer needs and team values

VISION STATEMENToutline of where an organization wants to be in the futurecommunicates both purpose and values of the business30VISION STATEMENTMISSION STATEMENTProvide direction and helps the company prepare for the futureProvide a basis or standard for allocating resources Define what you will and will not doInform company's stockholders about its plans and goalsProvide purpose and as source of inspirationServe as an effective public relations toolBrings change and hope for the futureTo guide strategic or daily decision makingShapes the company's strategyTo unify employees' effort in pursuing company's goal31DEC 2014

There are nine (9) component of an effective mission statement. Discuss any five (5) component of a mission statement. Give example of each component (15marks)32Answer:Customer who are the firms customers?Example: Johson & Johson Doctors, nurse, patients, mother and all other who use that product.Products or services what are the firms major product or serviceExample: Sony Smartphone, laptop, camera television and pendrive.Market geographically, where does the firm compete?Example : hardrock cafe all over the world, such as Malaysia, Vietnam and Singapore. Technology is the form technologically current?Example: Control Data business of applying micro-electronic and computer technology in two general area : computer-related hardware and computing enhancing services.Less than 250 words in lengthExample: University Teknology Mara (UiTM) To nurture and develop scholarly and knowledge-seeking learning community that explore all form and frontiers of knowledge through higher degrees. (20 words)

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