MT2: Vision, Mission, Values, Strategy, and Strategic Purpose and Coherence

Defining Vision and Mission

Mission and vision statements are essential to define the company’s main objectives and overall goals. Carpenter and Sanders (2008) define vision statements as the understanding of what the company/organization will be like in the future (p.44). A mission statement is described what the company/organizations stands for (Carpenter & Sanders, 2008, p.44).

Additionally, an effective mission statement has a unique purpose and is shared with few sentences (Pearce & David, 1987, p.109). Something interesting that Campagna and Fernandez (2007) shared was that many executives disregard mission and vision statements (p.76). Something I learned while completing my undergraduate studies is that the majority of companies/firms don’t have mission and vision statements. Mission and vision statements are found throughout nonprofit organizations.

What Should Vision and Mission Statements Encompass

Ambiguity and ambition drive the vision statement while core values drive the mission statements (Carpeter & Sanders, 2008, p.45). Pearce and David (1987) discussed that developing a mission statement is the first step of the development of the strategic planning process (p.109).

Why Vision and Mission Statements are Not Substitutes for Strategy

Vision and mission statements are not substitutes for strategy because a strategy is still needed in the crafting of all strategies and its execution processes. Vision and mission statements should also serve as goals and objectives to direct the strategy (Carpenter & Sanders, 2008, p.46).

Why are Goals and Objectives Important

Goals and objectives are important because they provide measurement and guidance. Carpenter and Sanders (2008) state that goals and objectives offer direction to strategies (p.46). In order to achieve the main goals and objectives, there needs to be a strategy to achieve those goals. The strategy must be revised if performance is not headed in the correct direction. Goals and objectives are important but are guided by the mission statement as mentioned by David, David, and David (2014).

Define strategic purpose and how it relates to your work organization or SSM company

Strategic purpose ide defined by Carpenter and Sanders (2008) as “simplified, widely shared mental model of the organization and its future, including anticipated changed in its environment” (p.47). The company for which I work for does have a strategic purpose. Oftentimes were receive notification of changes/updates to policies and procedures that will impact the company as a whole. Sometimes these changes are for the better and sometimes not so much. However, the company anticipates the changes in the environment and shares information.

How does an organization achieve strategic coherence

An organization can reach strategic coherence by creating and implementing an effective strategy. Involvement and commitment are essential to have a clear purpose for a strategy (Moe, Cornoldi &Beni, 2001, 1179). In order to achieve strategic coherence, organizations must not be suffering from incoherent and fragmented strategies (Carpenter & Sanders, 2008, p.49).

References

Campagna, C., & Fernandez, T. (2007). A comparative analysis of the vision and mission statements of international environmental organizations. Environmental Values, 369-398.

Carpenter, M. A., & Sanders, W. M. (2008). Strategic management: A dynamic perspective—Integrated StratSim simulation experience. Upper Saddle River, NJ: Pearson Prentice Hall.

Collins, J. C., & Porras, J. I. (1996). Building your company’s vision. Harvard business review, 74(5), 65.

David, E. M., David, R. F., & David R. F. (2014). Mission Statement Theory and Practice: A Content Analysis and New Direction. International Journal of Business, Marketing, and Decision Sciences, 7(1) 95-109

Moe, A., Cornoldi, C., & De Beni, R. (2001). Strategic coherence and academic achievement. In Technological applications (pp. 237-258). Emerald Group Publishing Limited.

Pearce, J. A., & David, F. (1987). Corporate mission statements: The bottom line. The Academy of Management Executive, 1(2), 109-115.