Question

How do vision and mission statements affect the strategic management process? Select an example of strong vision and mission statements and include them here. Why do you think these are strong statements? How do the statements contribute to a perception of company's overall competitiveness? in 250-350 words

Answer 1

Importance of vision and mission statement on the strategic management process is as follows:

• Vision and mission statements guide the strategic management process to become more employee-centric than profit-centric

• Vision and mission statement determines the performance standard of the strategic management system

• The vision and mission statements inform a steady performance standard of the strategic management

• A proper vision and mission statement attract appropriate talent for the strategic management process of the organization

• Vision and mission statement provides the context of the restructuring process of strategic management

• Vision and mission statement of a company reduce the friction while restructuring the strategic management process

• Vision statements and mission statements establish a stable strategic framework which outlasts the strategic management process of the internal management

• Vision and mission statement make the strategic management process more productive

• The facilitation of vision and mission statement of an organization make the strategic management more customer-focused, and team-centric.

• Vision and mission statement of an organization make the suppliers and partners more strategy specific

• Proper maintenance of vision and mission statement help coordinating the public relations of an organization

A strong mission statement – ' To be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers’. It is the mission statement of Amazon inc.

A strong vision statement- 'To provide access to the world's information in one click.' It is the vision statement of Google Inc.

The mission statement of Amazon Inc is healthy because it establishes Amazon Inc's strong commitment to its employees and customers.

The vision statement of Google Inc is strong because it establishes Google’s capacity to achieve its future objectives.

The statements contribute to a perception of the company's overall competitiveness by

• Establishing strong objectives

• Developing strategic plans for operational activities

• Creating value for its upcoming ventures