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WK3 - LESSON 2 - Business Mission & Vision
WK3 - LESSON 2 - Business Mission & Vision
WK3 - LESSON 2 - Business Mission & Vision
Business
MISSION &
VISION
LESSON #02 – ELECTIVE
Strategic Management in Tourism and Hospitality
PROF. JEFFERSON S. MARCELO, MBA
Learning Objectives
1. Describe the role and nature of vision and
mission statements
2. Identify the components of mission
statements.
3. Discuss why the process of developing a
mission statement is important
4. Discuss how clear the vision and mission
statements can benefit other strategic
management activities.
5. Evaluate the mission statement of every
organization.
6. Formulate a good mission and vision
statements.
01
VISION
STATEMENT
The VISION STATEMENT
●
Established at the beginning
Must be short, preferably one
VISION
sentence STATEMENT
● Vivid
● Aspirational yet realistically
possible
Examples of VISION STATEMENT
Best Practices for Writing
a VISION STATEMENT
There is no template to writing a vision statement, however a common
structure for successful ones includes these traits:
○ Basic philosophy
○ Core Values
MISSION STATEMENT COMPONENT
• Because a mission statement is often the most visible and
public part of the strategic-management process, it is
important that it includes the nine components below:
MISSION STATEMENT COMPONENT
1. Customers—Who are the firm’s customers?
2. Products or services—What are the firm’s major products or services?
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 firm’s 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?
DISNEY’S
MISSION EVALUATION
DISNEY’S
MISSION EVALUATION
CHARACTERISTICS OF A
MISSION STATEMENT
3. Provide direction.
4. Provide a focal point for all stakeholders of the firm.
5. Resolve divergent views among managers.
Ten Benefits of Having a
Clear Mission and Vision
• Well-designed vision and mission statements are essential for formulating, implementing, and
evaluating strategy.
THANK YOU!
Prof. Jeff
Marcelo