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    Lecture 2 Strategic Formulation 06-07

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    Varun Mangwana
    Dell's mission statement can be summarized in 3 sentences: Dell aims to be the most successful computer company in the world by delivering the best customer experience. Its mission is focused on meeting customer expectations around quality, technology, pricing, customization, service, citizenship and stability. A matrix shows how Dell's mission addresses typical components like customers, products, markets, and philosophy.

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    Lecture 2 Strategic Formulation 06-07

    Uploaded by

    Varun Mangwana
    71 views13 pages
    Dell's mission statement can be summarized in 3 sentences: Dell aims to be the most successful computer company in the world by delivering the best customer experience. Its mission is focused on meeting customer expectations around quality, technology, pricing, customization, service, citizenship and stability. A matrix shows how Dell's mission addresses typical components like customers, products, markets, and philosophy.

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    Dell's mission statement can be summarized in 3 sentences: Dell aims to be the most successful computer company in the world by delivering the best customer experience. Its mission is focused on meeting customer expectations around quality, technology, pricing, customization, service, citizenship and stability. A matrix shows how Dell's mission addresses typical components like customers, products, markets, and philosophy.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    71 views13 pages

    Lecture 2 Strategic Formulation 06-07

    Uploaded by

    Varun Mangwana
    Dell's mission statement can be summarized in 3 sentences: Dell aims to be the most successful computer company in the world by delivering the best customer experience. Its mission is focused on meeting customer expectations around quality, technology, pricing, customization, service, citizenship and stability. A matrix shows how Dell's mission addresses typical components like customers, products, markets, and philosophy.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 13

    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

    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 firms 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

    Vision

    Clear Business Vision Comprehensive Mission Statement

    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.

    Customers

    Products Services

    Markets

    Technology Employees

    Mission Elements
    Survival Growth Profit Self-Concept Philosophy

    Public Image

    The essential components of a mission statement


    Components and Questions That a Mission Statement Should Answer 1. Customers: Who are the firms customers? 2. Products or services: What are the firms 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 firms 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
    PepsiCos 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 & Jerrys Mission


    Ben & Jerrys 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 communitylocal, national and international.

    Mission Statement Evaluation Matrix


    COMPONENTS Concern for Survival, Growth, Profitabilit y

    Organization

    Customers

    Products Services

    Markets

    Technology

    PepsiCo Ben & Jerry's

    Mission Statement Evaluation Matrix


    COMPONENTS

    Organization

    Philosophy

    SelfConcept

    Concern for Public Image

    Concern for Employees

    PepsiCo Ben & Jerry's

    Question:
    Derive a matrix for the following: Dells 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

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