Company Vision and Mission
“WHICH ROAD DO I TAKE?,"
Asked Alice
"WHERE DO YOU WANT TO GO?“
Responded the Cheshire Cat
"I DON'T KNOW," Alice Answered.
"THEN IT DOESN'T MATTER,” said the Cat.
“IF YOU DON'T KNOW WHERE YOU ARE GOING,
ANY ROAD WILL GET YOU THERE.”
What Is Strategic Management?
Strategy is how the firm generates profits
by creating value for the marketplace
Strategy is how the firm will achieve its
vision, mission, and goals.
Two Fundamental Elements
of Strategy
Strategy is about change: adapting to continual
change in the external and internal environment
Strategy is about distinction: being different
from rivals – performing different activities or
performing similar activities in different ways.
Strategy Process
Vision
Mission
Values
SWOT
Evaluation
Strategic
Objectives
Strategic
Plan
Strategic
Implementation
Strategic
Control
Vision Statement
Why does the company exist?
Inspiring
Long-term
Driven by and evokes passion
Broad; Overarching; Brief
Fundamental statement of the
organization’s
Values
Aspiration
Goals
3M: To solve unsolved problems innovatively
Cargill: To improve the standard of living around the world
Hewlett-Packard: To make technical contributions for the
advancement and welfare of humanity
Lost Arrow Corp: To be a role model and a tool for social change
Mary Kay Cosmetics: To give unlimited opportunity to women
Merck: To preserve and improve human life
Wal-Mart: To give ordinary folk the chance to buy the same
things as rich people
Walt Disney: To make people happy
Mission Statement
What does the company do?
Unique purpose of the company
Basis of competition and
competitive advantages
More specific than vision
Focused on the means by which
the company will compete
It is the mission of Advance Auto Parts to provide personal vehicle
owners and enthusiasts with the vehicle related products and
knowledge that fulfill their wants and needs at the right price. Our
friendly, knowledgeable and professional staff will help inspire,
educate and problem-solve for our customers.
Ecolab’s mission is to be the leading global innovator, developer
and provider of cleaning, sanitation and maintenance products,
systems, and services. As a team, we will achieve aggressive
growth and fair return for our shareholders. We will accomplish this
by exceeding the expectations of our customers while conserving
resources and preserving the quality of the environment.
CVS will be the easiest pharmacy retailer for customers to use.
The purpose of the Cooper Tire & Rubber Company is to earn
money for its shareholders and increase the value of their
investment. We will do that through growing the company,
controlling assets and properly structuring the balance sheet,
thereby increasing EPS, cash flow, and return on invested
capital.
We will provide branded products and services of superior
quality and value that improve the lives of the world's
consumers. As a result, consumers will reward us with
leadership sales, profit, and value creation, allowing our
people, our shareholders, and the communities in which we
live and work to prosper.
Values Statement
How do we behave?
• Statement of ethical priorities
• Guidelines for norms and
decision making
• Standards of behavior and
practices
• Basis for moral courage
Strategic Objectives
What will we strive for?
Operationalize the
mission statement
SMART(S)
Indicates strategic intent
– BHAG
Strategic v Financial
S
Long-term v short-term
stretch
Stakeholders
Firm
Stakeholders
Any individual or group who can influence or is
influenced by the operations of a firm
Strategy Process
Vision
Mission
Values
SWOT
Evaluation
Strategic
Objectives
Strategic
Plan
Strategic
Implementation
Strategic
Control