Management and Organizational Studies 4410A/B Chapter Notes - Chapter 2: Product Differentiation, Gross Domestic Product, Decision Support System

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 4410A/B
• Professor: Maria Ferraro

Document Summary

A vision statement should answer the question who do we want to become? , what the rm strives to be in the long run. Mission statement reveals what an organization wants to be and whom it wants to serve. As many managers as possible should be involved in the process of developing these statements because through involvement, people become committed to an organization. Should carefully develop a written misson statement in order to reap the following bene ts: Serve as a focal point to help individuals identify with the organizations purpose and direction. Facilitate translation of objectives into a work structure. Through development of a mission statement divergent views among managers can be revealed and resolved through the process. In multidivisional organizations, each division should involve its own managers and employees in developing a vison and mission statement that is consistent with and supportive of the corporate mission.