Strategic Management: Mission, vision and strategic objectives — Mission and Vision Statements
What separates a mission from a vision, what makes either one useful, and how bold goals and core values steer an organization.
Try 3 questions
1. What best distinguishes a vision statement from a mission statement?
- Vision covers one year; mission covers five
- Vision is a desired future; mission, present purpose
- Vision is for staff; mission is for customers
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Answer: Vision is a desired future; mission, present purpose
A mission says what the organization does and for whom today; a vision paints the future it wants to create, giving the mission a direction.
2. Which question does a mission statement chiefly answer?
- How much profit will we make next year?
- Which rival will we overtake first?
- What is our business, and whom do we serve?
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Answer: What is our business, and whom do we serve?
Following Peter Drucker, a mission defines the organization's purpose: what it does, for which customers or beneficiaries, and the need it meets.
3. In 'Marketing Myopia', Theodore Levitt argued that railroad companies declined partly because they defined their business how?
- As railroads rather than transportation
- As public services rather than businesses
- As transportation rather than railroads
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Answer: As railroads rather than transportation
By seeing themselves as running trains instead of moving people and goods, they ignored cars, trucks and planes that met the same customer need.
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