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Strategic Management Concepts and Cases 1st Edition Ali Solutions Manual
Strategic Management Concepts and Cases 1st Edition Ali Solutions Manual
CHAPTER 2
CHAPTER OUTLINE
CHAPTER OBJECTIVES
CHAPTER OVERVIEW
Chapter 2 focuses on the concepts and tools needed to evaluate and write
business mission statements. A practical framework for developing mission
statements is provided. Actual mission statements of large and small
organizations and profit and nonprofit enterprises are presented and critically
examined. The process of creating vision and mission statements is
discussed.
A. Mission Statements
A. A Declaration of Attitude
B. A Customer Orientation
Teaching Tip: Your students may find it interesting to know that not only
corporations find mission statement useful. Steven Covey, the author of the
highly successful book, The Seven Habits of Highly Successful People, has
written two books that explain how individuals and families can use mission
statements to help them determine who they are and what they want to
accomplish. The first book, How to Develop and Use a Personal Mission
Statement, explains why individuals should write mission statements to
provide a sense of direction and purpose for their lives. The second book,
How to Develop a Family Mission Statement, applies the same principles in a
family concept. Laurie Beth Jones advances a similar set of ideas in her
popular book, The Path: Creating Your Mission Statement for Work and for
Life.
Teaching Tip: If you are interested in obtaining the mission statement for a
particular company, a good place to look is the company’s website or its
annual report. Annual reports can be obtained directly from a company or
through a service that disseminates annual reports. An example of the latter
is The Public Register’s Annual Report Service at www.prars.com. This
service provides free access to the annual reports of over 3,600 public
companies.
A. Perhaps the best way to develop a skill for writing and evaluating
mission statements is to study actual company missions.
Etisalat
To extend people’s reach. At Etisalat, we are actively developing advanced
networks that will enable people to develop, to learn and to grow. (Authors’
comment: the statement addresses one component: technology.)
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Teaching Tip: Along with vision statements and mission statements, some
organizations articulate corporate “values” statements, which describe the
underlying principles that determine everything the organization does and
stands for.
Johnson&Johnson:
www.jnj.com/community/health_safety/policies/vision.htm
Samsung:
www.samsung.com/us/aboutsamsung/samsunggroup/valuesphilosoph
y/SAMSUNGGroup_ValuesPhilosophy.html
VII. CONCLUSION
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Answer: These answers will vary by institution. See the examples in the
chapter.
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12. Who are the major stakeholders of the bank that you do
business with locally? What are the major claims of those
stakeholders?
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communities rely upon the bank to provide jobs and pay taxes.
Employees rely upon the bank for their income.
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16. How often do you feel a firm’s vision and mission statement
should be changed?
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