Disc. Board No. 4 – Establishing Company Direction: Developing Strategy, Vision, Objectives (i.e., Craf

Disc. Board No. 4 – Establishing Company Direction: Developing Strategy, Vision, Objectives (i.e., Crafting a Strategy)

Hi, all!

Now onto the "mission statement" of the firm, which could be a for-profit, not-for-profit, governmental, educational, etc.  In short, the mission statement states:

• Who we are?

• What we do?

• Where we are now?

• And, (hopefully), where we are going!

But, a long-term course of action is really the "vision" of where we want to be. The mission is current; the vision is the future! 

Answer the following questions:

1) How do you get from a "mission" to a "vision?" What changes are occurring in the market where we operate? What new (or different) customer needs should we satisfy? Do we “create” a need? What new (different) buyer segments should we be concentrating on?

2) Do a little research on the Internet (e.g., Google, Yahoo, etc.) and find the "mission statements" of some companies. Note the ones which are good — and the ones which are lousy. Why were the good ones good? And, why were the bad ones lousy??? Then "agree" and "disagree" with each other! (Of course, be professional!) See how the “mission” and the “vision” DRIVE the company! Or, does it "crash"? 😉