Strategic management 2 - Essay Example

Answer Peter Drucker’s ment that businesses are defined by their mission is correct primarily because it defines the main purpose of the business. The strategic management and planning enables a business to make empowered decisions regarding its long term goals and objectives. They facilitate value creation and growth through well defined plans to achieve defined target. In the highly volatile business environment, identifying factors and issues that help meet the challenges of time, become important for organization’s survival and growth.

The vision and mission therefore provide the business with strategic directions to achieve its goals. McDonald’s vision and goals would be studied for their efficacy in achieving its goals and objectives.McDonald’s is the largest chain of fast food restaurants that operates around 32000 outlets across the globe. Its mission and vision statements are key elements of its business strategy. McDonald’s vision statement wants it to become the best fast food outlet. The corporate vision clearly describes its future perspectives as to what it plans to achieve in long term.

Its corporate strategy primarily relies on creating value through customer satisfaction and is intrinsically linked to its vision. It helps to achieve its vision by promoting strategic plans that would enhance its value and make it the best fast food restaurant. Bateman and Snell (2009) assert that organizational vision becomes the major motivation element for the workforce to excel. The corporate objectives of McDonald’s are developed so as its vision is aligned with its value through plans and actions that promote its goals and objective.

(words: 254)Answer 2 The process of developing a mission statement is highly pertinent for an organization because it defines as to what and how the business intends to operate. The broad framework of mission statement provides firms with strong incentives and plans to focus on strategies that would help it to achieve its vision. The strategies encourage the firms to become flexible and evolve effective plans to meet the challenges of changing times. Mintzberg (1990) believes that businesses need to exploit the current choices to meet the transforming values and trends in the customers’ preferences.

Indeed, the business objectives and mission are inherently linked to changing demands of the customers and therefore must constantly strive to be flexible. The mission statement of McDonald’s is to become the favorite place of the customers for their fast food (McDonalds, 2012). Hence, its corporate strategic plans are customer centric. Through exemplary customer services, it promotes customer satisfaction at all levels of interaction. The wide variety in its menu caters to the changing demands of the customers.

It customizes its products as per the changing preferences of its customers across the globe. The nutritious salads for calorie conscious customer are also accompanied by its staple French fries and customized burgers. It constantly analyzes and identifies the changing trend in customers’ requirements (Grant, 2007). At the same time, its mission statements also clearly inform how the firm achieves its goals and objectives. Through various measures like encouraging diversity at workplace, environment preservation through sustainable business practice, ethical considerations etc.

it hugely contributes to developing and implementing corporate strategic plans to achieve its corporate objectives. (words: 266)ReferenceBateman and Snell. Management: Leading and Collaborating in a Competitive World. 8th ed. NY: McGraw hill, 2009.McDonald’s Values. 2012: Mintzberg, H. (1990). The Design School: Reconsidering the Basic Premises of Strategic Management. Strategic Management Journal 11.3 (1990): 171-195.Grant, Robert M. Contemporary Strategic Analysis. 6th ed. NY: Blackwell, 2007.