Explain the process of developing a mission statement and why it is important.
A mission statement is a statement explaining a firm’s objectives, reasons for continuation and most importantly what the organization is all about (David, 1999). It also ought to explain an organization’s customers, products as well as the physical location in which the firm is situated. It should be all stated in a brief and clear paragraph free of any contradicting terms that could jeopardize a firm’s activities. A first-rate and efficient mission statement ought to be revised often to ensure it does not lose its relevance.
In order to create an effective mission statement, a number of factors should be considered. The opportunity or rather wants that a firm has come to address. Secondly, the statement should state want the management intends to do in order to address these needs. It should also dictate the principles and values guiding a firm’s operations. The process of formulating this statement spells out areas of discrepancy (David, 1999). It puts across the focus as well as the direction of the team in charge of planning.
The process of coming up with a mission statement entails coming up with a vision, mission and core values (David, 1999). These three items form the guiding light for the enterprise as well as those at the heart of its management. The vision is entirely a mental illusion of what one intends to achieve in setting up a business. It should be made brief and concise for clarity, for every worker to remember without difficulty. Then there is the mission statement, which a statement is describing how one aims to achieve the set down vision. In many cases, it begins with the word ‘to’ (David, 1999). It should be easy to comprehend. Lastly, we have the core values that identify a business’s doctrines and values that are to be adhered to by its leaders. They are essential because they outline the limits to which leaders conduct their activities while in the process of implementing the vision and mission.
A mission statement is extremely relevant to any organization since it helps the members to espouse high ethical traits. Members are also able to produce superior quality products to meet their customer’s needs and capture a wide market range. It also facilitates in boosting a firm’s profits and at the same time amplifies efficiency. A strong mission statement plays a significant role in boosting a company’s image (David, 1999).
2) Do you believe that developing international operations are important to US corporations?
It is extremely essential that the corporations in the US cultivate favorable international operations. This has especially been made possible by the modern age edge of the Internet and other forms of technology. Effective international operations within a government aid to foster national growth since the country is able to relate well with its neighbors. For instance, in the US government leaders have established that the primary cause of America’s large trade discrepancy is due to failed public relations with its foreign buyers.
For some time now, the US businesses have been seeking cheap labor and capital from other countries and fail to market its goods. This notion exists since most companies presume that they singly produce the best products in the markets. It is, therefore, fundamental to source for consumers from all over and gap the trade deficit.
References
David F. (1999). Strategic management: concepts & cases. New Jersey: Prentice Hall publishers.
