This document discusses the importance of vision and mission statements for businesses. It provides examples of vision statements from different organizations and outlines key components that make an effective mission statement, such as defining what the organization is and aspires to be, identifying customers and markets, and conveying social responsibility. The document also notes that while research on the relationship between mission statements and performance is mixed, firms with formal statements tend to see higher returns.

2. Chapter Outline What do we want to become? What is our business? Importance of Vision and Mission Statements

3. Chapter Outline ( cont’d ) Characteristics of a mission statement Components of a mission statement Writing & evaluating mission statements

7. Comprehensive Mission Statement Vision Clear Business Vision

19. Vision & Mission Many organizations develop both vision & mission statements.

20. Vision & Mission Profit & vision are necessary to effectively motivate a workforce

21. Vision & Mission Shared vision creates a community of interests

22. Developing Vision & Mission Clear mission is needed before alternative strategies can be formulated and implemented

23. Developing Vision & Mission Participation from diverse managers is important in developing the mission.

27. Importance of Mission Mission Resource Allocation Unanimity of Purpose Organizational Climate Focal point for work structure Benefits from a strong mission

34. Social Policy & Mission Social policy should be integrated in all strategic-management activities. Mission should convey the social responsibility of the firm

37. Mission Elements Customers Markets Employees Public Image Self-Concept Philosophy Survival Growth Profit Products Services Technology

40. Mission Statement Evaluation Matrix No Yes Yes Yes No Ben & Jerry's No Yes No No Yes PepsiCo Technology Concern for Survival, Growth, Profitability Markets Products Services Customers Organization COMPONENTS

41. Mission Statement Evaluation Matrix Yes Yes Yes No Ben & Jerry's No No No Yes PepsiCo Concern for Employees Concern for Public Image Self-Concept Philosophy Organization COMPONENTS