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Unit 1: BUSINESS ORGANIZATIONS AND MANAGEMENT 1.2. Objectives, stakeholders & The External Environment. HIERARCHY OF OBJECTIVES Mission & Vision Statements Source : Business & Management – Course Companion – Clark, Golden, O’Dea, Weiner, Woolrich , 2009. p24-51 .
BUSINESS ORGANIZATIONS AND MANAGEMENT
1.2. Objectives, stakeholders & The External Environment.
HIERARCHY OF OBJECTIVES
Mission & Vision Statements
Source: Business & Management – Course Companion –
Clark, Golden, O’Dea, Weiner, Woolrich, 2009. p24-51
One key tool used to examine corporate strategy
and strategic planning is MOST analysis, which
uses the hierarchy of objectives as a framework.
This helps clarify:
What is a Mission Statement for a Business?
Source: http://getentrepreneurial.com/images/mission%20statement.jpgDate: 18 April 2009
Source: http://www.championinternet.com/psf/dilbert.gifDate:17th April 2009
What are Stakeholders?
Most corporate mission statements are built
around three main elements:
The Role of Stakeholders
We will devote our human resources and technology to create superior products and services, thereby contributing to a better global society
Expectations of Employees
“A leader shapes and
shares a vision, which
gives point to the work of
others” (Charles Handy, 1932-)
“To choose a direction, an executive must have developed a mental image of the possible and desirable future state of the organization. This image, which we call a vision, may be as vague as a dream or as precise as a goal or mission statement” (Warren Bennis, (1925-) – writer on leadership)
“The Salvation Army, an international
movement, is an evangelical part of the
universal Christian Church. Its mission is
motivated by the love of God. Its mission is to
preach the gospel of Jesus Christ and to meet
human needs in His name without
“To grow, manage, promote and showcase the sport of tennis throughout Australia, recognizing the health, social, economic and entertainment benefits of sport and tennis in particular for people of both sexes, all ages and abilities.”
Identify the values that underpin the business and its operations.
Focus on aspects of the operations that customers and stakeholders value most.
Prepare a statement that motivates employees and strengthens the message to other stakeholders.