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Strategic Management. Strategic Management: Concepts and Cases, 11/E by Fred David. Strategic formulation. Strategy Formulation. Vision & Mission. External Opportunities & Threats. Internal Strengths & Weaknesses. Long-Term Objectives. Alternative Strategies. Strategy Selection.

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strategic management

Strategic Management

Strategic Management: Concepts and Cases, 11/E by Fred David

slide2

Strategic formulation

Strategy Formulation

Vision & Mission

External Opportunities & Threats

Internal Strengths & Weaknesses

Long-Term Objectives

Alternative Strategies

Strategy Selection

slide3

Vision

“What do we want to become?”

Agreement on the basic vision for which the firm strives to achieve in the long run is critically important to the firm’s success.

Examples of vision statements:

The Vision of Manley Baptist Church is to be the people of God, on mission with God, motivated by a love for God, and a love for others

  • The Vision of Pepsi To become the leading producer and marketer of food and beverage products in the world
slide5

Vision

Clear Business Vision

ComprehensiveMission Statement

slide6

Mission Statements

What is our business?”

Reveal what an organization wants to be and whom it wants to serve

Essential for effectively establishing objectives and formulating strategies

The Mission of Manley Baptist Church is to help people in the Lakeway area become fully developed followers of Jesus Christ.

slide7

ProductsServices

Markets

Customers

Technology

Mission Elements

Employees

Survival

Growth

Profit

Public

Image

Philosophy

Self-Concept

the essential components of a mission statement
The essential components of a mission statement
  • Components and Questions That a Mission Statement Should Answer
  • 1. Customers: Who are the firm’s customers?
  • 2. Products or services: What are the firm’s major products?
  • 3. Markets: Geographically, where does the firm compete?
  • 4. Technology: Is the firm technologically current?
  • 5. Concern for survival, growth, and profitability: Is the firm committed to growth and financial soundness?
  • 6. Philosophy: What are the basic beliefs, values, aspirations, and ethical priorities of the firm?
  • 7. Self-concept: What is the firm’s distinctive competence or major competitive advantage?
  • 8. Concern for public image: Is the firm responsive to social, community, and environmental concerns?
  • 9. Concern for employees: Are employees a valuable asset of the firm?
pepsico mission
PepsiCo Mission

PepsiCo’s mission is to increase the value of our shareholders’ investment. We do this through sales growth, cost controls, and wise investment resources. We believe our commercial success depends upon offering quality and value to our consumers and customers; providing products that are safe, wholesome, economically efficient and environmentally sound; and providing a fair return to our investors while adhering to the highest standards of integrity.

ben jerry s mission
Ben & Jerry’s Mission

Ben & Jerry’s mission is to make, distribute and sell the finest quality all-natural ice cream and related products in a wide variety of innovative flavors made from Vermont dairy products. To operate the Company on a sound financial basis of profitable growth, increasing value for our shareholders, and creating career opportunities and financial rewards for our employees. To operate the Company in a way that actively recognizes the central role that business plays in the structure of society by initiating innovative ways to improve the quality of life of a broad community—local, national and international.

question
Question:
  • Derive a matrix for the following:
  • Dell’s mission is to be the most successful Computer Company in the world at delivering the best customer experience in markets we serve. In doing so, Dell will meet customer expectations of:
  • Highest quality
  • Leading technology
  • Competitive pricing
  • Individual and company accountability
  • Best-in-class service and support
  • Flexible customization capability
  • Superior corporate citizenship
  • Financial stability