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The Implications of Corporate Mission & Vision Statements

How does a corporation determine what direction they will take in the marketplace? The first three elements of setting this direction are Mission, Vision and Value Statements. What do these mean? How do they impact decision-making at a corporation?

Solution Summary

This essay describes what corporate mission and vision statements should include; in terms of the working of the mission statement, the organization's products, services, markets values, and concern for public image must be considered. In terms of the vision statement, participants may use methods ranging from highly analytical and rational to highly creative and divergent focused discussions. This solution is 719 words with two references.