Strategic Management – Week 6 Assignment
Toolbox Exercise – Elements of a Mission Statement
NOTE REGARDING TOOLBOX EXERCISES – These exercises are meant to be cumulative in nature. Each week we will perform an exercise that will serve as the foundation for your Strategic Plan and Final Presentation. Your frame of reference for these exercises should be the shoe company you manage on the Business Simulation Game.
Many experts believe mission statements should include nine elements. Although it is very rare to find a mission statement that addresses all nine of these areas, the list can be a useful tool in helping facilitate the process of drafting a statement. Modify your company’s mission statement to include each of the nine items listed below. Your final mission statement contained within your final strategic plan and presentation does not necessarily have to include each of these nine areas, but for the purpose of this exercise I would like to see included.
· Customers – Who are the firm’s customers?
· Products or services – What are the firm’s major products or services?
· Markets – Geographically, where does the firm complete?
· Technology – Is the firm technologically current?
· Concern for survival, grow, profitability – Is the firm committed to growth and financial soundness?
· Philosophy – What are the basic beliefs, values, aspirations, and ethical priorities of the fimr?
· Self-concept – What is the firm’s distinctive competence or major competitive advantage?
· Concern for public image – Is the firm responsive to social, community, and environmental concerns?
· Concern for employees – Are employees a valuable asset of the firm?
Have your group facilitator submit the assignment to this dropbox.
Adapted from David, F.R. (2011). Strategic management: Concepts and cases (13th ed.). Upper Saddle River, NJ: Pearson.