Strategic Management 

Module 4- Mission & Vision 

Please answer the following questions based on module 4 & 5 in the Google Classroom. You
can also use other sources and in that case provide your references.  
1. What is a vision statement? Describe how IKEA’s vision statement fits the definition of a
Vision Statement? 
A vision statement is a goal for what your business will be in the future,
specifically, it expresses the company's ideal long-term goals. It should answer the
fundamental question, "Where are we going?" or "What do we want to become?"
IKEA’s vision statement: "To create a better everyday life for many people."
IKEA;s vision statement meets the characteristics of a comprehensive vision statement.
It answers the fundamental question with a short description of what the company
wants to become in the near future. This vision goes beyond home furnishings, and it
expresses their desire or their ideal long-term goal to have a positive impact on the
world and help customers live a more sustainable life at home
2. Enumerate (only) the eight (8)characteristics of a mission statement. 
Characteristics of a Mission Statement
1. Broad in scope; does not include monetary amounts, numbers, percentages, ratios, or
objectives.
2. Fewer than 150 words in length
3. Inspiring
4. Identifies the utility of a firm’s products
5. Reveals that the firm is socially responsible.
6. Includes the nine components:
 customers  philosophy
 products or services  self-concept
 markets  concern for public image
 technology  concern for employees
 concern for
survival/growth/profits
7. Reconciliatory
8. Enduring

3. Compare the mission & vision statement of the two leading fast food companies in the
Philippines based on the (5) characteristics of a vision statement based on#1 above and (8)
characteristics of a mission statement in #2 question.

Although reading the mission statements of the two top fast food chains gives the
impression that they are extremely similar, they are fact considerably different. While
McDonald's only mentions its product in the first half of the sentence, Jollibee's
mission statement places greater emphasis on the company's product or
identification through the words "food" and "eating." Through their goal to offer a
joyful or delightful experience, it inspires the readers to take on an exciting mission.
Both of them provide us with a reconciling atmosphere, but Jollibee welcomes
everyone while McDonald's primarily serves Filipino community. Lastly, their mission
statements give us a different point of view, especially when it comes to their
services. Jollibee focuses on eating experiences, unlike McDonald's, which only
mentions a delightful experience.
3. Enumerate (only) the ten benefits of having clear mission and vision as stated in the module.
1. Achieve clarity of purpose among all managers and employees.
2. Provide a basis for all other strategic planning activities, including internal and external
assessment, establishing objectives, developing strategies, choosing among alternative
strategies, devising policies, establishing organizational structure, allocating resources, and
evaluating performance.
3. Provide direction.
4. Provide a focal point
5. Resolve divergent views among managers.
6. Promote a sense of shared expectations among all managers and employees.
7. Project a sense of worth and intent to all stake holders
8. Project an organized, motivated organization worthy of support.
9. Achieve higher organizational performance.
10. Achieve synergy among all managers and employees.