Mission and Vision BUSI 7130/7136 Dr. Shook

Building Your Company’s Vision Collins and Porras

Strategic Intent Core Ideology –The enduring character of an organization –Core Values –Core Purpose

Core Values A Company’s Essential Tenets

Core Purpose Company’s Reason for Being

Discovering Core Ideology Discovered not created Guide and inspire – not differentiate Not necessarily exciting to outsiders Ideology is not same as statement Ideology is not core competence

Validity of Core Ideology

Plan to Discover Core Ideology

Envisioned future Big Hairy Audacious Goals Vivid Description

Big Hairy Audacious Goals

Target BHAG –Become…. Common Enemies –Beat….. Role Model –Be Like…. Internal Transformation –Transform the company how……

Vivid Description

Strategic Intent Hamel and Prahalad

Strategic Intent Envisioned Desired Leadership Position Active Management Process –Focusing attention –Motivating people by communicating value –Leaving room for individual and team contributions –Using intent to guide resource allocations

Strategic Intent –Captures essence of winning –Stable over time –Sets a target that deserves personal effort and commitment –Sizable stretch for an organization

Core Ideology Vs. Envisioned Future Reason for Existence Never Completed Discovery Process Clearly Articulated Goal Reachable in years Creative Process

Comparison of Strategic Approaches Maintaining Strategic Fit Trimming Ambitions to Match Resources Search for Inherently Sustainable Advantages Search for Niches Leveraging Resources Leveraging Resources Building New Advantages Search for New Rules

Comparison of Strategic Approaches Reduce Financial Risk by Balanced Portfolio Resources Allocated to Product Markets Corporate and Business Strategies Aligned by Financial Strategy Reduce Competitive Risk by Portfolio of Advantages Resources Invested in Core Competencies Corporate and Business Strategies Aligned by Strategic Intent