1 Graduate School of Business Leadership MISSION AND VISION STATEMENTS Saungweme PW

Graduate School of Business Leadership2 DEFINITONS The Mission reflects the essential purpose of the organisation, concerning particularly why it is in existence, the nature of the business(es) it is in, and the customers it seeks to serve and satisfy ((J L Thompson, 1997, p.141). A Vision statement describes what the company is to become in the (long term) future (J L Thompson, 1997, p.141).

Graduate School of Business Leadership3 DEFINITONS (cont.) Longterm objectives - are desired states or results linked to particular time scales and concerning such things as size and type of ogarnisation, the nature and variety of areas of interest and levels of success. (J L Thompson, 1997, p.141).

Graduate School of Business Leadership4 DEFINITONS (cont.) Values Values are beliefs which your organisation's members hold in common and endeavour to put into practice. The values guide your organisation's members in performing their work. Specifically, you should ask, "What are the basic beliefs that we share as an organisation?”

Graduate School of Business Leadership5 MISSION STATEMENT CONTENTS Most mission statements will clearly spell the following: Business definition (what is our business?) Vision and major goals Corporate philosophy Stakeholders Values

Graduate School of Business Leadership6 A GOOD MISSION STATEMENT Ackoff in Thmpson (1997, p.144) suggests five characteristics of a good mission statement : It will contain a formulation of objectives that enables progress towards them to be measured. It differentiates a company from its competitors It defines the business(es) the company wants to be in, not necessarily is in. It is relevant to all the stakeholders in the firm, not just to shareholders and managers. It is exciting and inspiring.

Graduate School of Business Leadership7 DEFINING MISSION STATEMENTS May be of a narrow or broad scope: NARROWBROAD RAILROADTRANSPORTATION INSURANCEFINANCIAL SERVICES Remember, a mission should almost always be broadly defined to avoid a myopic view of the organisation

Graduate School of Business Leadership8 DOES THE COMPANY HAVE AN EXPLICIT MISSION ? IF SO, WHAT IS IT ? IF IT DOES, HOW DO YOU EVALUATE IT ?  IS IT CLEAR…OR RATHER VACUOUS ?  IS IT FEASIBLE ?  IS IT APPROPRIATE TO : ITS UNDERLYING, INTENDED STRATEGY ? ALL RELEVANT STAKEHOLDERS ? THE GOALS OF ITS GOVERNANCE SYSTEM ? C. JOHN BURTON ANALYSIS OF MISSION STATEMENTS

Graduate School of Business Leadership9  IF THE COMPANY DOES NOT HAVE AN EXPLICIT CORPORATE MISSION STATEMENT, WOULD IT HELP THE COMPANY - OR NOT - TO TRY TO FORMULATE ONE ?  HOW WOULD YOU RECOMMEND THAT THEY SHOULD GO ABOUT THIS ?  HAVE YOU ANY SUGGESTIONS AS TO THE CONTENT OF ITS FUTURE MISSION STATEMENT ? C. JOHN BURTON ANALYSIS OF MISSION STATEMENTS (CONT.)

Graduate School of Business Leadership10 INTERFRESH’S MISSION STATEMENT Our Vision We want to be the best in the production, processing and marketing of Horticultural products and services in our markets Our Mission We aim to embody a culture of excellence in every sphere of the group’s activities. Excellence will be the constant driving force that ensures our commitment to growth, long-term viability, continuos improvement and profit. In the pursuance of our goals, we will always ensure that these are realised in a professional, courteous and socially responsible manner. Our people Our Customers Our suppliers

Graduate School of Business Leadership11 BEVERLEY’S MISSION STATEMENT Vision To be the best building society offering financial services that satisfy the needs and expectations of our potential and existing clients. Mission To provide affordable housing and a secure place for people to profitably invest their money.