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    Mission Statement Components

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    tariq usman
    The document provides guidance on developing an effective mission statement for an organization. It outlines nine key components that should be included in a mission statement, such as identifying customers, products/services, markets, and technology. It also stresses the importance of obtaining broad participation from managers in crafting the mission statement. A five-step process is recommended for developing the statement, including gathering input from managers, merging statements into a draft, and revising until obtaining full support. A consultant may help facilitate the process.

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    Mission Statement Components

    Uploaded by

    tariq usman
    771 views3 pages
    The document provides guidance on developing an effective mission statement for an organization. It outlines nine key components that should be included in a mission statement, such as identifying customers, products/services, markets, and technology. It also stresses the importance of obtaining broad participation from managers in crafting the mission statement. A five-step process is recommended for developing the statement, including gathering input from managers, merging statements into a draft, and revising until obtaining full support. A consultant may help facilitate the process.

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    The document provides guidance on developing an effective mission statement for an organization. It outlines nine key components that should be included in a mission statement, such as identifying customers, products/services, markets, and technology. It also stresses the importance of obtaining broad participation from managers in crafting the mission statement. A five-step process is recommended for developing the statement, including gathering input from managers, merging statements into a draft, and revising until obtaining full support. A consultant may help facilitate the process.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    771 views3 pages

    Mission Statement Components

    Uploaded by

    tariq usman
    The document provides guidance on developing an effective mission statement for an organization. It outlines nine key components that should be included in a mission statement, such as identifying customers, products/services, markets, and technology. It also stresses the importance of obtaining broad participation from managers in crafting the mission statement. A five-step process is recommended for developing the statement, including gathering input from managers, merging statements into a draft, and revising until obtaining full support. A consultant may help facilitate the process.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Mission Statement Components

    There are nine components which the strategist thinks are essential in mission statement. With
    these nine ingredients consider as the best mission statement. 

    1. Customer

    Mission Statement should include answer the question” Who are firm customers?”

    2. Products and Services

    What are the firm’s major product and services?

    3. Markets

    Define the markets in which the firm competing.

    4. Technology

    Define the technology which the firm using for running their business.

    5. Concern of survival, growth and profitability

    Is the firm committed to growth and financial soundness?

    6. Philosophy

    The basic, belief, values, aspiration and ethical priorities of the firm.

    7. Self concept

    The firm distinctive competence or major competitive advantage.

    8. Concern of public image

    Is the firm responsive to social, community and environmental concerns?

    9. Concern of employees

    Are employees are valuable asset of the firm?


    Importance of Vision & Mission
    • 2X average return on shareholder’s equity

    • Positive relationship to organizational performance

    • 30% higher return on certain financial measures

    • Unanimity of purpose within the organization

    • Basis for allocating resources

    • Establish organizational climate

    • Focal point for direction

    • Translate objectives into work structure

    • Cost, time and performance parameters assessed and controlled

    Developing a Mission Statement


    Clear mission is needed before alternative strategies can be formulated and implemented
    Important to have as broad range of participation as possible among managers in developing the
    mission

    Steps that could help in developing a mission statement:-

    1. Select several articles about mission statements & ask all your managers to read these as
    background information.

    2. Ask managers to prepare mission statements for the organization

    3. A facilitator or coordinator then merge these statements into a single document &
    distribute this draft mission statement to all managers.

    4. Modification, additions & deletions are needed next, along with a meeting to revise the
    document.

    5. After all the managers have input into & support the final mission statement document,
    organization can more easily obtain managers’ support for other strategy formulation,
    implementation, & evaluation activities.

    6. A consultant or facilitator could be involved to manage the process smoothly & help draft
    the language & finalization of the document.
    Vision, Mission & Objectives of BIZTEK
    In the new millennium, the trend of global village is changing. Nations are focusing more on
    peaceful quality living as compared to accumulating warheads. Few exceptions may be there, but
    they are few. The power is getting transferred from G7 to E7 (The Economic Seven) and China
    is leading the fast emerging economic block. At this stage, we need to ensure that Pakistan
    matches the present pace to be amongst rising nations of this century. We are convinced that we
    owe our sincerity and commitment to this nation, country and to the community we live in. We
    are also convinced that once we are able to develop this, we may be able to achieve things
    surpassing all previous glories of the history. What we desperately need in this regard is the trust
    and confidence of concerned quarters and a willingness to become a part of a team in affairs
    where worthwhile contribution can be made.

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