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    Mission Statement/ Vision Statement

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    In the Session Long Project of MGT599, we will create a "strategic toolkit" which, once assembled, will allow you to undertake strategic planning and implementation projects in any organization. Upon successful completion of the Module 1 SLP, you will be able to use your SLP to assess the mission and vision statements of any company. The goal of the SLP is one of skill-building—that is, in each module we will focus on developing a skill for a different phase of the strategy-making process. Throughout this course, you should complete the SLP before you complete the Case. However, before you begin to address the SLP assignments, read the Background materials thoroughly.
    Required Reading
    Welch, J., & Welch, S. (2008). State your business: Too many mission statements are loaded with fatheaded jargon. Play it straight. Businessweek, 4066 (80). Retrieved on November 6, 2012, from http://www.businessweek.com/stories/2008-01-02/state-your-business
    Session Long Project
    In this module, you will be learning what constitutes good mission and vision statements. You will also be developing a list of criteria for evaluating such statements. You will then use these criteria to evaluate a corporate vision and mission statement in the Case. Finally, you will be comparing your two lists for commonalities and differences.
    Keys to the Assignment
    The key aspects of this assignment that you must cover in your 3- to 4-page paper are:
    • Step One: Read the Background materials and conduct additional research about writing mission and vision statements. You may rely solely on the websites in the Background materials or supplement them if you wish. You will find that there are a great many opinions on what constitutes a "good" mission statement. Your job is to identify five criteria that you believe are crucial to devising good mission statements.
    • Step Two: Research the Background websites dedicated to writing vision statements. Again, you may supplement them if you wish. Identify five criteria you think are critical to good vision statements.
    • Step Three: In a 3- to 4-page paper:
    o List the five criteria you have chosen for mission and vision statements (i.e., five each). This can be a bulleted list.
    o Justify your choices. Explain why you think each individual criterion is important.
    o Critically compare the commonalities and differences between your two lists. Be sure that you address this requirement with appropriate depth.
    o Be sure to have introduction at the beginning of paper and a conclusion at the end

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    Solution Preview

    In compliance with BrainMass rules this is not a hand in ready paper but only background help.

    Five Criteria for Mission Statement:
    1. Specific and can be understood.
    2. Clearly mentions the target customers.
    3. Says what the product or service is provided and how it provides value to the customers.
    4. The distinctiveness of the product or service;
    5. It should be concise.
    Five Criteria for Value Statement:
    1. It should inspire.
    2. The vision statement should be ambitious.
    3. It should describe the best possible outcome the organization can achieve.
    4. It should be clear and easy to understand.
    5. It should build a picture in the minds of people.

    The first criterion for a mission statement is it should be specific and can be understood. The mission statement is the statement of the purpose of the company. It is supposed to guide the actions of the company. Unless it is specific and is understood it cannot guide the actions of the company. The mission statement also informs the stakeholders about how the company will act. The mission statement informs the shareholders, investors, and lenders. Unless the mission statement is not clear and easy to understand its purpose will be defeated. This criterion is important.
    The mission statement must mention the target customers so that the company knows exactly whom it seeks to satisfy. The mission statement alerts the employees of the company, its sales persons, and its management about who are its target customers. This aspect of the mission statement makes the firm and its actions more relevant to its customers.
    The product or service is mentioned so that it is clear exactly what business the firm is in. By mentioning the product or service it clarifies the purpose of the firm. Further, by saying how it provides value to the customer, the company knows exactly what steps it must ...

    Solution Summary

    The answer to this problem explains five criteria each for a good mission and vision statement. The references related to the answer are also included.