16 years ago
Showing posts with label Strategy Formulation. Show all posts
Showing posts with label Strategy Formulation. Show all posts
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What is the Business
A commercial or industrial enterprise and the people who constitute it; "he bought his brother's business"; "a small mom-and-pop business"; "a ...
commercial enterprise: the activity of providing goods and services involving financial and commercial and industrial aspects; "computers are now widely used in business"
occupation: the principal activity in your life that you do to earn money; "he's not in my line of business"
a rightful concern or responsibility; "it's none of your business"; "mind your own business"
an immediate objective; "gossip was the main business of the evening"
the volume of commercial activity; "business is good today"; "show me where the business was today"
business concerns collectively; "Government and business could not agree"
clientele: customers collectively; "they have an upper class clientele"
incidental activity performed by an actor for dramatic effect; "his business with the cane was hilarious"
Current thought on mission statements is based largely on guidelines set forth in the mid-1970s by Peter Drucker, who is often called "the father of modern management" for his pioneering studies at General Motors Corporation and for his 22 books and hundred of articles. Harvard business review has called Drucker " the preeminent management thinker of our time."
Drucker says that asking the question "What is our Business?" is synonymous with asking the question "What is the mission?" An enduring statement of purpose that distinguishes one organization from there similar enterprised the mission statement is declaration of an organization's "reason for being". it answers that pivotal establishing objective and formulation strategics.
Some times called a creed statement, a statment of purpose, a statement of philosophy, a statement of beliefs, a statement of business principle, or stat ment "defining our business, a mission statment reveals what an oranization wants to be and whome it wants to sserve.
All organzion have a reason for being, even if strategists have no consciously transformed this reason into writing.
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What Do We Want to Become?
it is especially important for managers and executives in any organization to agree upon the basic vision that the firm strives to achieves to achieve in the long term. A vision statement should answer the basic question, "What do we want to become?" A clear vision provide the foundation for developing a comprehensive mission statement. Many organizations have both a vision and mission statement, but the vision statement should be established first and foremost. The vision statement should be short, preferably one sentence, and as many managers as possible should have input onto developing the statement.
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