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Management and Organizational Studies 4410A/B Study Guide - Vision Statement, Organisation Climate


Department
Management and Organizational Studies
Course Code
MOS 4410A/B
Professor
L.Graham Smith

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The Business Vision and Mission 9/25/2012 7:08:00 AM
Chapter 2
New Businesses
A new business owner typically believes that the management
philosophy of the new enterprise will result in a favourable public
image and that this concept of the business can be communicated
to and will be adopted by important constituencies
Vision and Mission Statements
Vision statement
o It is important for managers and executives to agree on the
basic long term vision of the firm
o A vision statement should answer the basic question “what do
we want to become?”
o The vision statement should be established first and should
be short
Mission statement
o Should ask the question “what is our business?”
o Declaration of an organization’s reason for being
o Reveals what an organization wants to be and whom it wants
to serve
o There are still many corporations that don’t have a mission
statement
o Some develop them because they think they are fashionable
Both profit and vision are needed to motivate a workforce
effectively
Developing Vision and Mission Statements
Steps to developing statements:
o The first step to developing these statements is to find
several articles about these statements and ask managers to
gather some background information from them
o Then, ask managers to prepare their own vision and mission
statements
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