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Business owners and managers are habitually occupied with the immediate problems that they start losing prospective of their decisive objectives. That's why a business review or preparation of a strategic plan is a virtual necessity. This may not be a recipe for success, but without it a business is much more likely to fail.
For example, many people might think that The Walt Disney Company's mission is to run theme parks. But, Disney's mission is always moving toward an expanded view. Disney provides entertainment. "Disney's overriding objective is to create shareholder value by continuing to be the world's premier entertainment company from a creative, strategic, and financial standpoint."
You might also think that Revlon's mission is to make cosmetics. Yet, Revlon provides glamour, excitement and innovation. Charles Revson, Revlon's founder understood the importance of mission. He said "In the factory, we make cosmetics; in the store, we sell hope."
Microsoft's early vision statement was "A Computer on Every Desk and In Every Home." (At approximately the same time, President John Akers said IBM's goal was to become a $100 billion company by then end of the century. At that time IBM sales were $50 billion.)
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