Formulate Monitor,
Develop Implement
Set Strategy Evaluate,
Vision and
Goals & to Achieve and Take
and Execute
Objectives Goals & Corrective
Mission Strategy
Objectives Action
1. PRODUCT / MARKET
2. TERRITORY / GEOGRAPHY
Missions vs. Strategic Visions
A mission statement A strategic vision
focuses on current concerns a firm’s future
business activities -- business path --
“who we are and “where we are going”
what we do” – Markets to be
– Current product and pursued
service offerings – Future technology-
– Customer needs product-customer
being served focus
– Technological and – Kind of company that
business capabilities management is
trying to create
Example of Vision & Mission
Intel
Eastman Kodak
We are in the picture business.
Wit Capital
(an Internet startup company)
Otis Elevator
Our mission is to provide any customer a means
of moving people and things up, down, and
sideways over short distances with higher
reliability than any similar enterprise in the world.
Avis Rent-a-Car
Our business is renting cars. Our mission is total
customer satisfaction.
Example of Mission Statement
Ritz-Carlton Hotels
OBJECTIVES
– Conduct operations
– Compete successfully
Corporate-Level Corporate
Managers Strategy
Two-Way Influence
Business-
Level Business Strategies
Managers
Two-Way Influence
Function-
al Functional Strategies
Manager
s Two-Way Influence
Executive-Level
Managers Business
Strategy
Two-Way Influence
Functional
Managers Functional Strategies
Two-Way Influence
Operating Strategies
Operating
Managers
Figure 2.4: Networking of Missions,
Goals/Objectives, and Strategies
Level 1 Corporate-wide Corporate Corporate
Strategic Level Level
Corporate- Vision Objectives Strategy
Level
Managers Two-Way Influence Two-Way Influence Two-Way Influence
Determine
relevance Identify
Craft
of internal and
Company’s Strategic Situation and evaluate
the
strategy
external alternatives
factors
Resource
strengths, Influences of Shared values
capabilities, key and company
and
weaknesses
executives culture
Internal Factors
Table 4.1: SWOT Analysis -
What to Look For
Potential Resource Potential Resource Potential Company Potential External
Strengths Weaknesses Opportunities Threats
partnerships