1. Strategic Management Strategic Management: Concepts and Cases, 11/E Strategic Management: Concepts and Cases, 11/E by Fred David

2. Vision & Mission Strategy Formulation External Opportunities & Threats Internal Strengths & Weaknesses Long-Term Objectives Alternative Strategies Strategy Selection Strategic formulation

3. Vision “What do we want to become?” Agreement on the basic vision for which the firm strives to achieve in the long run is critically important to the firm’s success. Examples of vision statements: The Vision of Manley Baptist Church is to be the people of God, on mission with God, motivated by a love for God, and a love for others – The Vision of Pepsi To become the leading producer and marketer of food and beverage products in the world

5. Comprehensive Mission Statement Vision Clear Business Vision

6. What is our business?” Reveal what an organization wants to be and whom it wants to serve Essential for effectively establishing objectives and formulating strategies The Mission of Manley Baptist Church is to help people in the Lakeway area become fully developed followers of Jesus Christ. Mission Statements

7. Mission Elements Customers Markets Employees Public Image Self-Concept Philosophy Survival Growth Profit Products Services Technology

8. The essential components of a mission statement Components and Questions That a Mission Statement Should Answer 1.Customers: Who are the firm’s customers? 2.Products or services: What are the firm’s major products? 3.Markets: Geographically, where does the firm compete? 4.Technology: Is the firm technologically current? 5.Concern for survival, growth, and profitability: Is the firm committed to growth and financial soundness? 6.Philosophy: What are the basic beliefs, values, aspirations, and ethical priorities of the firm? 7.Self-concept: What is the firm’s distinctive competence or major competitive advantage? 8.Concern for public image: Is the firm responsive to social, community, and environmental concerns? 9.Concern for employees: Are employees a valuable asset of the firm?

9. PepsiCo Mission PepsiCo’s mission is to increase the value of our shareholders’ investment. We do this through sales growth, cost controls, and wise investment resources. We believe our commercial success depends upon offering quality and value to our consumers and customers; providing products that are safe, wholesome, economically efficient and environmentally sound; and providing a fair return to our investors while adhering to the highest standards of integrity.

10. Ben & Jerry’s Mission Ben & Jerry’s mission is to make, distribute and sell the finest quality all-natural ice cream and related products in a wide variety of innovative flavors made from Vermont dairy products. To operate the Company on a sound financial basis of profitable growth, increasing value for our shareholders, and creating career opportunities and financial rewards for our employees. To operate the Company in a way that actively recognizes the central role that business plays in the structure of society by initiating innovative ways to improve the quality of life of a broad community—local, national and international.

11. Mission Statement Evaluation Matrix COMPONENTS OrganizationCustomers Products ServicesMarkets Concern for Survival, Growth, Profitabilit yTechnology PepsiCo Ben & Jerry's

12. Mission Statement Evaluation Matrix COMPONENTS OrganizationPhilosophy Self- Concept Concern for Public Image Concern for Employees PepsiCo Ben & Jerry's

13. Question: Derive a matrix for the following: Dell’s mission is to be the most successful Computer Company in the world at delivering the best customer experience in markets we serve. In doing so, Dell will meet customer expectations of: Highest quality Leading technology Competitive pricing Individual and company accountability Best-in-class service and support Flexible customization capability Superior corporate citizenship Financial stability