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Mission Statement Evaluation Matrix: Vern McGinniss contribution: --- Mission statement should: Define what the organization

ization is Define what it aspires to be Limited to exclude some ventures Broad enough to allow for growth Distinguishes firm from all others Framework for evaluating activities Stated clearly understood by all

Mission Components Components and Questions That a Mission Statement Should Answer 1. 2. 3. 4. 5. 6. 7. 8. 9. Components Customers Products Markets Technology Concern for survival, growth, and profitability Philosophy Self concept Concern for public image Concern for employees Customers: Who are the firms customers? Products or services: What are the firms major products? Markets: Geographically, where does the firm compete? Technology: Is the firm technologically current? Concern for survival, growth, and profitability: Is the firm committed to growth and financial soundness? Philosophy: What are the basic beliefs, values, aspirations, and ethical priorities of the firm? Self-concept: What is the firms 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? Organization A Organization B Organization C

The risk of new entry by potential competitors, the degree of rivalry among companies within a group, the bargaining power of buyers, the bargaining power of suppliers, and the competitive force of substitute and complementary products can each be a relatively strong or weak competitive force, depending on the competitive positioning approach adopted by each strategic group in the industry.

Basic Projects Phases

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