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What Constitutes a Good Mission and Vision Statement?

State what constitutes a good mission and vision statement:

Identify five criteria that are crucial to devising good mission statements.
List the five criteria you have chosen for mission and vision (5 each). This can be a bulleted list.
Justify your choices.
Explain why you think these particular criteria are important.
Compare what the two lists have in common and in what ways they differ.

Reference:

http://www.businessweek.com/magazine/content/08_02/b4066080139784.htm?chan=search
http://www.quickmba.com/strategy/vision/
http://managementhelp.org/strategicplanning/mission-vision-values.htm
http://humanresources.about.com/cs/strategicplanning1/a/strategicplan.htm.

Solution Preview

Five criteria crucial to devising good mission statements:

The mission statement of a company shows how the company intends to achieve its vision and making the dream of the business become a reality. A mission serves as a day to day guide to business operations and is often the foundation and basis of future decision making (McNamara, 2011). Five crucial criteria to devising good mission statements are that the mission statement: should focus on satisfying customer needs and reconcile the interests of various stakeholders who are diverse; it should fit within the current market environment; should be based on the competitive advantage of the company and its distinct core competencies; the mission should also be realistic where is can be broad enough to allow for creative growth and limited enough to exclude unnecessary ventures; and it should be short, specific, and sharply focused where it is can be easily understood by all and is able to arouse positive feelings and emotions (Zainbooks, 2009; My Strategic Plan, 2011; Welch & Welch, 2008).

Five criteria for devising good vision statements:

Vision of a company is an attractive future for the company that is both credible and realistic. It is the dream of the company, where the company wants to go or to be and does not necessarily have to be attainable as long as the company is reaching out to attain it (McNamara, 2011). Five criteria for devising a good vision statement are: The mission should credible, realistic, ...

Solution Summary

The solution outlines five components of a good mission and vision statements before comparing and contrasting the two in 884 words with 6 references.

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