We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Difference between the mission and vision statement.strategic management - Essay Example

Comments (0) Cite this document
The main difference between the mission and vision statement is that the mission statement provides a guidelines of what the company seeks to achieve in the present as an organization while the vision statement illustrates the goals of the firm for the future…
Download full paperFile format: .doc, available for editing
Polish This Essay92.3% of users find it useful
Difference between the mission and vision statement.strategic management
Read TextPreview

Extract of sample
"Difference between the mission and vision statement.strategic management"

Download file to see previous pages The main difference between the mission and vision statement is that the mission statement provides a guidelines of what the company seeks to achieve in the present as an organization while the vision statement illustrates the goals of the firm for the future. A company I once work for had the most deceptive and fraudulent mission statement I had ever seen. The company claimed that one of its values was taking care of the employees in order to improve their quality of life and of their families. The reason that the company lied in this statement was because this company was very abusive towards its employees. The firm would steal hours from the workers payroll by paying them fewer hours than they worked, they would pay the workers two to three weeks late every pay cycle, and the firm did not honor a bonus system that offered to the employees when they started to work for the firm. The actions of the managers, administrative team, and owners of the company were opposite of what the mission statement claimed. DQ2 I went to the corporate website of the global coffeehouse company Starbucks Cafe. The company has a corporate responsibility program in place that affected various aspects of their operations. One of the most intriguing aspects of the firm’s CSR plan was the sourcing of materials initiatives. The company in order to help our poor communities across the world only purchases fair trade coffee. Fair trade coffee is a system that guarantees poor farmers across the world a minimum price for coffee of $1.26 per pound which is twice the going rate for wholesale coffee across the world. Another aspect of the firm social responsibility commitment which I liked was their emphasis on hiring a diverse workforce. The firm also had good initiatives in place to protect the environment such as a recycling program. One aspect of their social responsibility initiatives that I did not like was the fact that the company does not have a mechanism in place to collect money for philanthropy causes. Considering the high profit margins the company enjoys the firm could easily donate 1% of their revenues or more to help fight hunger in places such as Africa, India, and South America. DQ3 The four major components of the strategic management process are environmental scanning, strategy formation, strategy implementation, and strategy evaluation. Environmental scanning is important because it allows the manager the opportunity to collect sufficient information in order to determine the relation between the company, the market, and its potential alternative solutions. I believe that the second step (strategy formation) is the most important step or component in the strategic management process. If a manager chooses the wrong strategy the subsequent steps won’t matter because the failure of the strategic initiative is inevitable. Take for example a company that decides after two years in business that the best strategic formation is too expand the company. The firm invests all the money it has on expanding without proper environmental scanning and without analyzing the financial consequences of the decision. Due to the bad plan the company realizes that now they are producing more goods than what the market seeks. Suddenly a firm that was doing well goes into financial troubles due to a bad strategic formation. 4. I agree with you that the mission statements of companies have a more detail description than the vision statement of a company. Based on the research that I made on the subject the reason that this occurs is because of the timeline perspective. The mission statement attempts to provide the people who read it an overview of the business as it is in the short term. People want to know what the company is all about and is seeking to do and realize. The visions statement is different because the vision statement provides an overview of what the company is seeking to achieve in the future. 5. I agree with a lot of the points you mentioned in your response. I believe that a people’ ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Difference between the mission and vision statement.strategic Essay”, n.d.)
Retrieved from https://studentshare.org/management/1425905-difference-between-the-mission-and-vision-statementstrategic-management
(Difference Between the Mission and Vision statement.Strategic Essay)
“Difference Between the Mission and Vision statement.Strategic Essay”, n.d. https://studentshare.org/management/1425905-difference-between-the-mission-and-vision-statementstrategic-management.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Strategic Management: Mission, Vision, and Stakeholders
Some of the vehicles are produced with the combustion of hybrid engines like Prius. Toyota’s subsidiaries include Daihatsu and Hino Motors which manufacture mini vehicles and trucks and buses respectively. Toyota also manufactures automotive parts for vehicle use.
4 Pages(1000 words)Essay
Mission, Vision and Stakeholders
Topic 1 – Mission, Vision and Stakeholders Mission and Vision The term ‘stakeholder’ encompasses both the individuals and groups who have an interest in the activities of a business such that they are impacted by the attainment of an organization’s goals or have the ability to impact the manner in which an organization is able to accomplish its objectives (Gossy 2008, p.
8 Pages(2000 words)Essay
Mission, Vision, and Stakeholders
In their work "Identifying strategic management concepts: An analytic network process approach" Soyer & Asan (2007:1) echo that, "SMCs together provide a common language and help stakeholders and other interested parties understand the business and its position in a competitive environment.
3 Pages(750 words)Essay
Strategic Management: Mission, Vision, and Stakeholders (SLP)
The airline appreciates innovation and creativity to improve productivity and at the same time it cares and respects everyone within the organization (Southwest Airlines,
1 Pages(250 words)Essay
Mission, Vision, and Value Paper
The company operates throughout the world having more than 12,000 employees on its payroll. The companys revenue exceeds $5 billion and it owns some of the well known brands such as KIT KAT, Reeses, Hersheys, Twizzlers. The company
2 Pages(500 words)Essay
CCTP Mission and Vision Statement
In my classroom, I will strive to do everything I can in going beyond educating the students by teaching them on all available technology. In addition, how to use the technology, which could better aid them in building a comprehension for the subject, help them to stay motivated, and strengthen their comprehension of technology, all as part of the process of education.
1 Pages(250 words)Essay
MGT599 Mission/Vision & Stakeholders
This liquidated the inventories of at least 18 failed dot.com companies at below wholesale prices (Covell, 2004). But in the recent years, the company has expanded in selling of new merchandise. The mission of the company is “we save people money” while its vision
1 Pages(250 words)Essay
Mission or vision statement
Poverty has been a major concern around the world for a very long period of time. People who live in poverty cannot afford basic necessities
1 Pages(250 words)Essay
W2CapD Vision and Mission
1). Wilkinson (2013) further explains that “while a mission explains the overall purpose of the organization – what you do, for whom you do it and
1 Pages(250 words)Essay
MVV-Mission, Vision, and Values
Firstly, Starbucks is the company with the history started in 1971 in one Seattle store. In ten years, its Chairman Howard Shultz decided to transform Starbucks into Italian style coffeehouse. Since then, Starbucks developed into “a place for conversation
4 Pages(1000 words)Essay
Let us find you another Essay on topic Difference between the mission and vision statement.strategic management for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us