MNGT 3100 Lecture Notes - Nominal Group Technique
Document Summary
63% of firms reported using mission and value statements as a management tool i. ii. Those with clearly communicated mission and vision have been shown to perform better than those without them. Specifying a company"s mission, vision, and values helps to focus employees" efforts on what"s most important b. Inspirational goal; not necessarily identifiable to a specific company c. Mission: description of the organization"s reason for being i. ii. iii. Values: list of the organization"s beliefs, principles, and standards i. Importance of vision and mission (triangle top to bottom) i. ii. iii. iv. v. vi. Goals & objectives are indicators of how well the strategy is succeeding. Determining the course of action for achieving objectives b. Developing an organizational structure and allocating human resources, including designing individual jobs resources, including designing individual jobs c. Inspiring others to take action and complete tasks. Utilizes social and informal sources of influence d. Creating processes and procedures that ensure consistent behavior.
