The concept of Strategy, Vision, Mission, and Values

Strategy is not about doing better-this is concern of operational effectiveness- strategy is about doing things differently; hence, the esence of strategy is making choices. Michael Porter

What Is Strategy Business strategy is the notion that strategy is focused on achieving certain goals; that the critical actions that make up a strategy involve allocation of resources; and that strategy implies some consistency integration, or cohesiveness of decisions actions.

Collis and Rukstad identify a hierarchy of strategy statements: T he mission statement is the basic statement of organizational purpose, it addresses “Why we exist.” A statement of principles or values states “What we believe in and how we will behave.” The vision statement projects “What we want to be.” The strategy statement articulates “What our competitive game plan will be.”

Examples of mission, vision and values statements

Starbuck’s mission statement to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time

Starbucks is committed to a role of environmental leadership in all facets of our business. Starbuck’s environmental mission statement

BRAND MISSION To be our customers' favourite place and way to eat. OUR VALUES McDonald's mission is to be our customers' favourite place and way to eat – with inspired people who delight each customer with unmatched quality, service, cleanliness and value every time.

Dunkin’ Donuts Our Vision: Serving Responsibly To be recognized as a company that responsibly serves our guests, franchisees, employees, communities, business partners, and the interests of our planet.