Mission, Vision, and Stakeholders - Essay Example

Only on StudentShare

Extract of sample
Mission, Vision, and Stakeholders

This same view was earlier aired by Raynor (1988) where the researcher refers to mission and vision statement as an organisation cornerstone that guide and provide actions, directions and aspirations for the future.
Vision statement refers to the desirable (O'Brien & Meadows 2001). In other words, a vision is the articulated goal for the organisation. Unlike mission statement, vision statement is a core goal. Once this is achieved, a direction will be set for the next vision (Soyer & Asan 2007, O'Brien & Meadows 2001, Thomas et.al., 1993).
Forman & Camponovo (2004:1) referred to mission statement "as the most basic embodiment of business strategy.. for mission statement is often at the heart of strategy formulation for successful organisation. Raynor (1998) further outlined the role of vision and mission statement which include
In addition, Mission and vision statement by defining an organisations' boundaries draw demarcation between one organisation and the other by exhibiting the organisations salient features (Soyer & Asan 2007, O'Brien & Meadows 2001, Forman & Componova 2004).
In all, in an organisation the creation of its mission and vision is an important first step in the development of modern, strategic management (Forman & Componova 2004). ...
Download paper

Summary

Mission and vision statements are two strategic management concepts (SMCs) (Soyer & Asan 2007). These are important concepts that define organisations' values, competencies and are quite useful in the strategic planning and management of the organisation (Soyer & Asan 2007)…
Author : evelyn96

Related Essays

Mission Statements
This definition will be a guiding point in the evaluation of the mission statements of McDonald and Dell, Incorporated.
...
2 pages (502 words) Essay
A Vision for Aviation Education
 It’s difficult to imagine what the world will be like in 2026 since science, industry, and our culture seems to be evolving at an ever faster pace. Specific to the aviation industry, new technology will certainly have an impact on the design and properties of aircraft vehicles to how we can best educate future students. Based on the relatively short history of aviation to date, any perception of the future includes an expectation that there will be a much broader application of value and use of air travel. This form of transportation may be much more individualized and certainly...
4 pages (1004 words) Essay
Introduction; Vision, Mission, and Stakeholders
A few years later Shultz bought the founders out and in 1992, Starbucks had grown to 150 stores across the Northwest and Midwest. Shultz took the company public raising over 25 million dollars.
...
5 pages (1255 words) Case Study
Educational Mission Statement
Organizational mission statement is a very important statement because it represents:
...
4 pages (1004 words) Essay
Business Organization Analysis Mission/Vision/Goals
With continuous research and development in the field of telecommunication, the company can innovate for better technological infrastructure and system that it can offer to the public. It sets its standard, that is, “quality, efficiency and innovation” geared towards the benefit of people (Investor Relations, n.d., para. 1). The direction is clear and fosters a commitment on its part which reflects the factual accomplishment in networking by providing mobile services to 99 percent of the country’s population.
...
1 pages (251 words) Research Paper
A good mission and vision state
The use of mission statement is wide and is not limited to any type of institution or business concern. Thus, non-profit organizations, educational institutions, private businesses and governments all have their own mission statements that are unique in their own way. Nonetheless, there are certain aspects that make the mission statements of the commercial and non-profit organizations different from each other. An example of such would be the aspect of commercial purpose that is not visible in non-profit organizations.
...
4 pages (1004 words) Coursework
Got a tricky question? Receive an answer from students like you! Try us!