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Strategic Management Developing Mission, Vision and Long-Term Objectives
The Five Tasks of Strategic Management Craft a Strategy to Achieve Objectives Set Objectives Develop a Strategic Vision & Mission Implement & Execute Strategy Evaluate & Make Corrections Improve/ Change Revise as Needed Revise as Needed Improve/ Change Recycle as Needed Task 1 Task 2 Task 3 Task 4 Task 5
What Is a Strategic Plan? Where firm is headed -- Strategic vision and business mission Action approaches to achieve targeted results -- A comprehensive strategy Short and long term performance targets -- Strategic and financial objectives
Developing a Vision and Mission ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],The First Task of Strategic Management
Missions vs. Strategic Visions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Defining a Company’s Business ,[object Object],[object Object],[object Object],[object Object]
Examples: Mission and Vision Statements ,[object Object],[object Object],Microsoft Corporation One vision drives everything we do: A computer on every desk and in every home using great software as an empowering tool.
Business Mission: Russell Corp. ,[object Object],[object Object],[object Object]
Setting Objectives ,[object Object],[object Object],[object Object],[object Object],[object Object],The Second Task of Strategic Management
Examples: Financial Objectives-Strategic Objectives ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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Developing Mission Vision And Lt Os

  • 1. Strategic Management Developing Mission, Vision and Long-Term Objectives
  • 2. The Five Tasks of Strategic Management Craft a Strategy to Achieve Objectives Set Objectives Develop a Strategic Vision & Mission Implement & Execute Strategy Evaluate & Make Corrections Improve/ Change Revise as Needed Revise as Needed Improve/ Change Recycle as Needed Task 1 Task 2 Task 3 Task 4 Task 5
  • 3. What Is a Strategic Plan? Where firm is headed -- Strategic vision and business mission Action approaches to achieve targeted results -- A comprehensive strategy Short and long term performance targets -- Strategic and financial objectives
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  • 10.