Practice evaluating mission statements. After you have evaluated six companies’ mission statements, you will conduct an interview about the use of mission statements at one company.
In this assessment, you will examine an organization’s unique purpose and reason for being, and how these things are reflected in the organization’s vision and mission statements. Vision and mission statements are similar, but a vision statement, according to David et al. (2024), answers the questions: “What do we want to become?” and “What is our business?” A mission statement is typically longer and more detailed than a vision statement. Organizations that invite strategists, managers, and employees into the development and communication of their business vision and mission create a heightened sense of purpose. Below are the nine components of a good mission statement:
- Customers. Who are our customers?
- Products and services. What are the major ones?
- Markets. Where do we compete geographically?
- Technology. Is our technology current?
- Growth. Are we committed to growth and financial soundness?
- Philosophy. What are our values, beliefs, and ethics?
- Self-concept. What is our distinctive competence and competitive advantage?
- Public image. What is our response to social and environmental concerns?
- Employees. Are employees a valuable asset?
Although often the most commonly overlooked task, crafting the vision statement is the necessary first step in strategic management. It provides direction for other activities. Like a vision statement, effective mission statements stand the test of time and, although re-examined annually, they are infrequently changed.
Reference
David, F. R., David, F. R., & David, M. E. (2024). Strategic management: A competitive advantage approach, concepts, and cases (18th ed.). Pearson.
A mission statement provides direction for creating, implementing, and evaluating strategic activity. This assessment gives you practice evaluating mission statements. After you have evaluated mission statements of six companies, you will conduct an interview about the use of mission statements at one company.
Part 1
Create a spreadsheet with the name of six companies listed across the top of the page and the nine essential components of a mission statement on the left. Provide rationale or interpretation for components that are more difficult to assess.
Evaluate each mission statement with the nine criteria. Record a yes in the cell of the matrix when the mission statement meets the criteria and a no if it does not.
Complete the evaluation matrix and provide a brief written assessment of the various mission statement components.
Part 2
Find an organization that has a formal mission statement. Contact someone within that organization (the organization you chose for Assessment 1, a non-profit, a government agency, or a business). Ask to speak with the director, owner, or CEO and explain that you are studying mission statements and are conducting research as a class activity.
Use the following questions as a guide and develop a few additional questions for your interview:
- When did your organization first develop its mission statement?
- Who was responsible for its development?
- Did you involve stakeholders and how?
- By what process is the mission statement altered or modified, and who is involved?
- How is your mission statement used day-to-day?
Summarize your interview in a short paper. Make sure to discuss why you chose to ask the questions you developed, summarize the process of constructing a mission statement, and describe the importance of the mission statement to organizations. Provide an overview of your findings and submit the short paper along with the evaluation matrix from Part 1.
Your assessment should also meet the following requirements:
- Written communication: Written communication is free of errors that detract from the overall message.
- APA formatting: If you use sources, ensure that resources and citations are formatted according to current APA style and formatting guidelines.
- Font and font size: Times New Roman, 12 point.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and scoring guide criteria:
- Competency 1: Evaluate key elements of the strategic planning process.
- Summarize what is learned about the use of mission statements.
- Competency 2: Analyze issues associated with stakeholders in the strategic planning process.
- Evaluate the elements of a mission statement using appropriate evaluation tools.
- Assess the components of a mission statement using mission statement criteria.
- Provide reasons for choosing interview questions and summarize how answers reflect rationale for the mission statement.
- Summarize the process of mission statement construction.
- Include insights about mission statements and their importance to an organization.
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