Review of the vision and mission in relation to strategy Key Terms: Vision Statement : What do we want to become?

- Outlines what the organization wants to be - Concentrates on the future - Source of inspiration Mission Statement : What is our business? - Purpose of the organization - Why it exist - What it wants to be - Whom it wants to serve Vision Example: Pepsi Co Vision Statement PepsiCo s responsibility is to continually improve all aspects of the world in which we operate environment, social, economic creating a better tomorrow than today. Our vision is put into action through programs and a focus on environmental stewardship, activities to benefit society, and a commitment to build shareholder value by making PepsiCo a truly sustainable company.

Mission It should be feasible It should be precise It should have clarity It should be motivating It should be unique and distinctive It should be the major strategy component Mission Example: PepsiCo Mission PepsiCo s 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. Reference: www.pepsi.com http://www.authorstream.com/Presentation/wicaksana-1133614-strategic-management-visionmission/ www.csun.edu/~hcmgt004/chap02.ppt