Strategic Management Process Vision Goals Objectives

Business- Management

Strategic Management Process/Vision, Goals, Objectives

Criteria for Mission Statement

Expresses the core competency of the business

Include the organization's strengths, values, and purpose

State the organization's overall strategy for determining long-term success.

Explains why the organization exists

Explains what the organization is trying to accomplish

Criteria for Vision Statement

What the business wants to accomplish

Time from for accomplishing the goal

Inspires creativity

Energizes growth

Motivates employees

Strategic planning establishes where a company is going over the next year or so, how it's going to get there and how it will figure out if it got there or not. The focal point of a strategic plan is typically on the whole company. There are assortments of viewpoints, models and approaches that can be utilized in strategic planning. The manner that a strategic plan is developed depends on the nature of the company's leadership, culture of the company, difficulty of the company's environment, dimension of the company and know-how of planners. The first step in shaping a company's strategic plan is to establish the company's mission and vision statements (The Strategic Planning Process, 2010).

Discussion

Vision Statements and Mission Statements are the stimulating words chosen by victorious leaders to clearly and succinctly express the direction of a company. By crafting a clear mission statement and vision statement, one can effectively communicate their purpose and inspire their company to comprehend an attractive and inspiring universal vision of the future (Mission Statements and Vision Statements, 2011).

A Mission Statement defines the company's purpose and primary goals. Its main function is internal to classify the key measure or measures of the company's achievement and its prime viewers are the leadership team and stockholders. Vision Statements also classify the company's purpose, but it's done so in terms of the company's values rather than bottom line measures or the things that are guiding beliefs about how things should be done. The vision statement communicates both the purpose and principles of the organization. For workers, it gives direction about how they are anticipated to act and encourages them to give their best. Shared with consumers, it shapes consumers' understanding of why they should work with that company (Mission Statements and Vision Statements, 2011).

A meaningful mission can function as a moral and corporate compass. It can help one to make decisions that are in line with their values and objectives (Zahorsky, 2011). Since the mission statement expresses a company's vision and values, it can be an effectual leadership tool, public relations tool, and compass for executive decisions. Leaders can utilize the company's mission statement as the team motto. A mission can be an influential tool to join workers and augment performance by having a universal focus (Schnaubelt, 2007).

A vision statement is ones ticket to success. It is like a picture in words of a company's future, it presents the inspiration for both daily operations and strategic decisions. Without a vision statement, effectual business planning would be unattainable; it's the vision statement that supplies the destination for the end of the journey (Ward, 2011).

Conclusion

In order for a company to be successful they have to determine where they currently are, where they want to be and how they are going to get there. This is where good mission and vision statements can help a company. Writing these statements forces a company to take a good look at itself and put into writing what their plan is. It is this plan that guides management as well as employees to achieve the goals that they company has set.