02. strategy formulation ( vs & ms) 8-10m

7/31/2019 02. Strategy Formulation ( vs & Ms) 8-10M

1/26

Strategy Formulation:

Vision & Mission

References

Strategic Management Concepts & Cases 10th

edition Fred R. David Wikipedia.com

Internet

Resource Person:Muhammad Adeel Anjum

Chapter # 2

1st Stage of Strategic Management Process


2/26

Strategy Formulation

Vision & Mission

Alternative Strategies

Long-Term Objectives

Strengths & Weaknesses

Opportunities & Threats

Strategy Selection


3/26

Imagination: the formation of a mental imageof something that is not perceived as real and

is not present to the senses; "imagination

reveals what could be.

Vision


4/26

Vision

Vision statement answers thequestion:

What do we want to become?

Your vision statement is your inspiration,the framework for all your strategic

planning.


5/26

Why Have a Vision Statement?

It gives direction to your Business

Allows you to live life with a purpose.Creates a positive vision of your future.

Allows you to live life to the fullest

potential.


6/26

To be a model public University providingaffordable, quality, higher education opportunitiesto develop the potentially rich human resource inBalochistan through knowledge-centered teaching

and research while maintaining and fostering a highlevels of ethical and professional standards andpromoting national identity.


7/26

"GMs vision is to be the world leader in

transportation products and related services.We will earn our customers enthusiasm

through continuous improvement driven bythe integrity, teamwork, and innovationof GM people."

GM is the world's second-largest automaker.

global sales leader for 77 consecutive calendar years from 1931 to 2007.

It manufactures cars and trucks in 34 countries. GM employs 244,500 people

around the world, and sells and services vehicles in some 140 countries

In late 2008 GM received loans from the American, Canadian, and Ontario

governments to avoid bankruptcy resulting from the late-2000s recession,record oil prices, health care and retiree expenses, and heavy competition.

General Motors filed for a government-assisted bankruptcy protection on June

1, 2009, in the federal court in, New York, with a plan to re-emerge as a smaller

and less debt-burdened organization in several months. As ranked by total

assets, the bankruptcy is the fourth-largest in U.S. history. GM is set to close adozen facilities and cut more than 20,000 jobs.


8/26

It was thereafter reorganized as a new entitythat acquired the most valuable assets. GM

became majority owned by the United StatesTreasury and, to a smaller extent, the CanadaDevelopment Investment Corporation[4] and the

government of Ontario,with the U.S.government investing US$57.6 billion under theTroubled Asset Relief Program.

The company focused its business on buildingthe worlds greatest fastest cars: Chevrolet,Buick, GMC, and Cadillac.
http://en.wikipedia.org/wiki/United_States_Department_of_the_Treasuryhttp://en.wikipedia.org/wiki/United_States_Department_of_the_Treasuryhttp://en.wikipedia.org/wiki/Canada_Development_Investment_Corporationhttp://en.wikipedia.org/wiki/Canada_Development_Investment_Corporationhttp://en.wikipedia.org/wiki/Government_of_Ontariohttp://en.wikipedia.org/wiki/Troubled_Asset_Relief_Programhttp://en.wikipedia.org/wiki/Chevrolethttp://en.wikipedia.org/wiki/Buickhttp://en.wikipedia.org/wiki/GMC_(automobile)http://en.wikipedia.org/wiki/Cadillachttp://en.wikipedia.org/wiki/Cadillachttp://en.wikipedia.org/wiki/GMC_(automobile)http://en.wikipedia.org/wiki/Buickhttp://en.wikipedia.org/wiki/Chevrolethttp://en.wikipedia.org/wiki/Troubled_Asset_Relief_Programhttp://en.wikipedia.org/wiki/Government_of_Ontariohttp://en.wikipedia.org/wiki/Canada_Development_Investment_Corporationhttp://en.wikipedia.org/wiki/Canada_Development_Investment_Corporationhttp://en.wikipedia.org/wiki/United_States_Department_of_the_Treasuryhttp://en.wikipedia.org/wiki/United_States_Department_of_the_Treasury


9/26

Mission, Vision & Values-

The world is changing all aroundus. To continue to thrive as a

business over the next ten years

and beyond, we must look ahead.

We must get ready for tomorrow

today. That's what our 2020 Vision

is all about. It creates a long-term

destination for our business andprovides us with a "Roadmap" for

winning together with our bottler

partners

O i i


10/26

Our Vision-Our vision serves as the framework for our Roadmap andguides every aspect of our business by describing what weneed to accomplish in order to continue achieving

sustainable, quality growth. People: Be a great place to work where people are inspired

to be the best they can be.

Portfolio: Bring to the world a portfolio of quality beverage

brands that anticipate and satisfy people's desires and needs. Partners: Nurture a winning network of customers and

suppliers, together we create mutual, enduring value.

Planet: Be a responsible citizen that makes a difference by

helping build and support sustainable communities. Profit: Maximize long-term return to shareowners while

being mindful of our overall responsibilities.

Productivity: Be a highly effective, lean and fast-moving

organization.


11/26

What is our business?

An enduring statement that distinguishes one

organization from the similar enterprises.

Declares the firms reason for being

A mission statement answers three key questions:

What do we do?

For whom do we do it?

What is the benefit?

Mission Statements


12/26

Mission StatementElements

CustomersMarkets

Employees

Public

Image Self-Concept Philosophy

SurvivalGrowthProfit

ProductsServices

Technology

Anticipates customer needs

Identifies customer needs

Provides product/service to satisfy needsAn Effective Mission Statement -


13/26

Mission Statement vs. Vision Statement "G.M. is a multinational

corporation engaged insocially responsibleoperations, worldwide. Itis dedicated to provide

products and services ofsuch quality that ourcustomers will receivesuperior value while ouremployees and businesspartners will share in oursuccess and our stock-holders will receive asustained superior return

on their investment."

"GMs vision is to be

the world leader intransportation productsand related services.We will earn our

customers enthusiasmthrough continuousimprovement driven bythe integrity,

teamwork, andinnovationof GM people."


14/26

Mission Statement vs. Vision Statement Our Mission- It declares

our purpose as acompany and serves asthe standard againstwhich we weigh our

actions and decisions. To refresh the world...

To inspire moments ofoptimism and

happiness... To create value and make

a difference.

Our Vision- Our vision serves as theframework for our Roadmap and guides

every aspect of our business by describingwhat we need to accomplish in order tocontinue achieving sustainable, qualitygrowth.

People: Be a great place to work wherepeople are inspired to be the best they canbe.

Portfolio: Bring to the world a portfolio ofquality beverage brands that anticipate andsatisfy people's desires and needs.

Partners: Nurture a winning network ofcustomers and suppliers, together wecreate mutual, enduring value.

Planet: Be a responsible citizen thatmakes a difference by helping build andsupport sustainable communities.

Profit: Maximize long-term return toshareowners while being mindful of ouroverall responsibilities.

Productivity: Be a highly effective, lean

and fast-moving organization.


15/26

Mission Statement vs. Vision Statement Functioning as a student-centric

institution dedicated to academicexcellence, tolerance and fairness.

Maintaining and fostering highestethical and professional valueswhile teaching students to seek

knowledge analytically, be creative,communicate effectively andbecome technologically literate tomeet the emerging needs of oursociety within the global village.

Ensuring and supporting facultyand staff to continue theirprofessional and intellectualdevelopment

To be a model public Universityproviding affordable, quality,higher education opportunitiesto develop the potentially richhuman resource in Balochistanthrough knowledge-centered

teaching and research whilemaintaining and fostering a highlevels of ethical andprofessional standards andpromoting national identity.


16/26

Importance of Mission

MissionResource Allocation

Unanimity of Purpose

Organizational Climate

Focal point for workstructure

Benefits from a strong mission


17/26

WRITING A MISSION STATEMENT Some researchers agree that it should be kept to

between 30 and 60 words Some organizations have mission statements that are

only one sentence, while others are a paragraph.

No universally followed guideline for writing mission

statement. At a minimum, each mission statement should answer

the following three questions:

(1) What are the opportunities or needs theorganization addresses?

(2) What does the organization do to address thoseneeds? and

(3) What principles and values guide the organization?


18/26

Avoiding jargon will keep the mission statement clearand easy to understand.

It should be unique and identify the organization. A mission statement is often what sets one company

apart from the competition.

It should outline the organization's competitiveadvantages and differentiate it from everyone else.

Specific products/services offered as well as marketsor customers should be included.

Also a general business definition, behavioralstandards, and desired competitive position can beadded to a strong mission statement.


19/26

Vision Statement vs Mission Statement

The Vision describes afuture identity

A Vision statement ismore specific in termsof both the future stateand the time frame

A vision statement, on

the other hand,describes how thefuture will look if theorganization achieves

its mission

Mission serves as an ongoingand time-independent guide

The Mission describes why it isimportant to achieve the Vision

A Mission statement defines thepurpose or broader goal forbeing in existence or in thebusiness and can remain thesame for decades if crafted well

your mission is what you dobest every day

A mission statement explainswhat the organization does, forwhom and the benefit

management versus leadership.


20/26

Centers for Disease Control

Mission: To promote health and quality of life bypreventing and controlling disease, injury, and

disability

Vision: Healthy People in a Healthy WorldPakistan Department of Health

Mission: To protect, maintain and improve the

health of all Pakistanis. Vision: Keeping All Pakistanis Healthy


21/26

PepsiCo Mission

PepsiCos mission is to increase the value of ourshareholders investment. We do this through

sales growth, cost controls, and wise investmentresources. We believe our commercial success

depends upon offering quality and value to ourconsumers and customers; providing productsthat are safe, wholesome, economically efficientand environmentally sound; and providing a fairreturn to our investors while adhering to thehighest standards of integrity.


22/26

Ben & Jerrys MissionBen & Jerrys mission is to make, distribute and

sell the finest quality all-natural ice cream andrelated products in a wide variety of innovativeflavors made from Vermont dairy products. Tooperate the Company on a sound financial basisof profitable growth, increasing value for ourshareholders, and creating career opportunitiesand financial rewards for our employees. Tooperate the Company in a way that actively

recognizes the central role that business plays inthe structure of society by initiating innovativeways to improve the quality of life of a broadcommunitylocal, national and international.


23/26

Mission Statement Evaluation Matrix

COMPONENTS

Organization Customers

Products

Services Markets

Concern forSurvival,Growth,

Profitability Technology

PepsiCo Yes No No Yes No

Ben & Jerry's No Yes Yes Yes No


24/26

Mission Statement Evaluation Matrix

COMPONENTS

Organization PhilosophySelf-

ConceptConcern forPublic Image

Concern forEmployees

PepsiCo Yes No No No

Ben & Jerry's No Yes Yes Yes


25/26

Which comes first? The mission statement or the vision

statement? That depends. If you have a new start up

business, new program or plan to re engineer your currentservices, then the vision will guide the mission statement

and the rest of the strategic plan. If you have an established

business where the mission is established, then many times,

the mission guides the vision statement and the rest of thestrategic plan. Either way, you need to know your

fundamental purpose - the mission, your current situation in

terms of internal resources and capabilities (strengths

and/or weaknesses) and external conditions (opportunitiesand/or threats), and where you want to go - the vision for

the future. It's important that you keep the end or desired

result in sight from the start


26/26

This list of college dropout billionaires

Lawrence Joseph "Larry" Ellison (born August 17, 1944) is an American business magnate,co-founder and chief executive officer of Oracle Corporation, a major enterprise softwarecompany. As of 2010 he is the sixth richest person in the world, with a personal wealth of $27

billion Mark Elliot "Zuck" Zuckerberg (born May 14, 1984) is an American computer programming

prodigy, dot-com entrepreneur and philanthropist who co-founded the social networking siteFacebook and founded the Start-up: Education foundation. Zuckerberg founded Facebook withfellow classmates Dustin Moskovitz, Eduardo Saverin, and Chris Hughes while attendingHarvard. He is a 24% shareholder of Facebook.

Steven Paul Jobs (born February 24, 1955) is an Americanbusiness magnate and inventor.He is well known for being the co-founder and chief executive officer of Apple. Jobs alsopreviously served as chief executive of Pixar Animation Studios; he became a member of theboard of The Walt Disney Company in 2006, following the acquisition of Pixar by Disney.

William Henry "Bill" Gates III (born October 28, 1955)[2] is an American business magnate,philanthropist, author and chairman[3] of Microsoft, the software company he founded with PaulAllen. He is consistently ranked among the world's wealthiest people[4] and was the wealthiest

overall from 1995 to 2009

Mukesh Dhirubhai Ambani (born on 19 April 1957) is an Indian business magnate and thechairman and managing director of Reliance Industries,[4] the largest private sector enterprise inIndia, a Fortune 500 company,[5] and one of the largest private sector conglomerates in theworld. His personal stake in Reliance Industries is 48%
http://en.wikipedia.org/wiki/Oracle_Corporationhttp://en.wikipedia.org/wiki/Enterprise_softwarehttp://en.wikipedia.org/wiki/Facebookhttp://en.wikipedia.org/wiki/Dustin_Moskovitzhttp://en.wikipedia.org/wiki/Eduardo_Saverinhttp://en.wikipedia.org/wiki/Chris_Hughes_(entrepreneur)http://en.wikipedia.org/wiki/Harvard_Universityhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Business_magnatehttp://en.wikipedia.org/wiki/Inventorhttp://en.wikipedia.org/wiki/Co-founderhttp://en.wikipedia.org/wiki/Chief_executive_officerhttp://en.wikipedia.org/wiki/Apple_Inc.http://en.wikipedia.org/wiki/Pixar_Animation_Studioshttp://en.wikipedia.org/wiki/Board_of_Directorshttp://en.wikipedia.org/wiki/The_Walt_Disney_Companyhttp://en.wikipedia.org/wiki/Business_magnatehttp://en.wikipedia.org/wiki/Philanthropyhttp://en.wikipedia.org/wiki/Authorhttp://en.wikipedia.org/wiki/Chairmanhttp://en.wikipedia.org/wiki/Microsofthttp://en.wikipedia.org/wiki/Paul_Allenhttp://en.wikipedia.org/wiki/Paul_Allenhttp://en.wikipedia.org/wiki/Forbes_list_of_billionaireshttp://en.wikipedia.org/wiki/Business_magnatehttp://en.wikipedia.org/wiki/Chairmanhttp://en.wikipedia.org/wiki/Managing_directorhttp://en.wikipedia.org/wiki/Reliance_Industrieshttp://en.wikipedia.org/wiki/Private_sectorhttp://en.wikipedia.org/wiki/Fortune_500http://en.wikipedia.org/wiki/Conglomerate_(company)http://en.wikipedia.org/wiki/Conglomerate_(company)http://en.wikipedia.org/wiki/Fortune_500http://en.wikipedia.org/wiki/Private_sectorhttp://en.wikipedia.org/wiki/Reliance_Industrieshttp://en.wikipedia.org/wiki/Managing_directorhttp://en.wikipedia.org/wiki/Chairmanhttp://en.wikipedia.org/wiki/Business_magnatehttp://en.wikipedia.org/wiki/Forbes_list_of_billionaireshttp://en.wikipedia.org/wiki/Paul_Allenhttp://en.wikipedia.org/wiki/Paul_Allenhttp://en.wikipedia.org/wiki/Microsofthttp://en.wikipedia.org/wiki/Chairmanhttp://en.wikipedia.org/wiki/Authorhttp://en.wikipedia.org/wiki/Philanthropyhttp://en.wikipedia.org/wiki/Business_magnatehttp://en.wikipedia.org/wiki/The_Walt_Disney_Companyhttp://en.wikipedia.org/wiki/Board_of_Directorshttp://en.wikipedia.org/wiki/Pixar_Animation_Studioshttp://en.wikipedia.org/wiki/Apple_Inc.http://en.wikipedia.org/wiki/Chief_executive_officerhttp://en.wikipedia.org/wiki/Co-founderhttp://en.wikipedia.org/wiki/Co-founderhttp://en.wikipedia.org/wiki/Co-founderhttp://en.wikipedia.org/wiki/Inventorhttp://en.wikipedia.org/wiki/Business_magnatehttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Harvard_Universityhttp://en.wikipedia.org/wiki/Chris_Hughes_(entrepreneur)http://en.wikipedia.org/wiki/Eduardo_Saverinhttp://en.wikipedia.org/wiki/Dustin_Moskovitzhttp://en.wikipedia.org/wiki/Facebookhttp://en.wikipedia.org/wiki/Enterprise_softwarehttp://en.wikipedia.org/wiki/Oracle_Corporation

02. strategy formulation ( vs & ms) 8-10m

Documents