MISSION, VISION, OBJECTIVES & ‎STRATEGY

Management and Organization (5569)
IMPORTANCE OF
MISSION, VISION, OBJECTIVES, & STRATEGY
IN THE FUNCTIONING OF AN ORGANIZATION
Any business idea that comes in the mind of a person forces him to think and aim something big to
achieve. Idea itself defines the type of industry, products, services, and initial market to be targeted to
implement it. That idea enables him to gather resources to establish an organization to greatly follow that
idea to achieve in the future with success. Establishing the organization requires to define and state the
vision, mission, objectives, and strategy to communicate with all proposed stakeholders and target market
keeping view the strategic advantages over the competitors.
Once the organization is established, vision, mission, objectives, and strategy become very important and
plays’ a vital role in attracting and delivering all stakeholders to execute accordingly to achieve the
desired success levels in the competitive market.
VISION- Definition & Explanation:
A vision statement should stretch the imagination while providing guidance and clarity. A vision
statement must be compelling, not just to the high-level executives of a company, but to all employees.
Points to keep in mind when formalizing a vision statement:
 Project five to 10 years in the future.
 Dream big and focus on success.
 Use the present tense.
 Use clear, concise and jargon-free language.
 Infuse it with passion and make it inspiring.
 Align it with your business values and goals.
 Have a plan to communicate your vision statement to your employees.
 Be prepared to commit time and resources to the vision you establish.
A completed vision statement should offer a clear idea of a company's path forward. (Fernandes,
2018)
A vision statement describes what a company desires to achieve in the long-run, generally in a time
frame of five to ten years, or sometimes even longer. Vision statement should be defined in way that
should follow the points given below:
 Forward-looking
 Motivating and inspirational
 Reflective of a company’s culture and core values
 Aimed at bringing benefits and improvements to the organization in the future
 Defines a company’s reason for existence and where it is heading towards (CFI Education, 2019)
Vision communicates what your organization believes are the ideal conditions for your community – how
things would look if the issue important to you were perfectly addressed. This utopian dream is generally
described by one or more phrases or vision statements, which are brief proclamations that convey the
community's dreams for the future. By developing a vision statement, your organization makes the

beliefs and governing principles of your organization clear to the greater community (as well as to your
own staff, participants, and volunteers).
There are certain characteristics that most vision statements have in common. In general, vision
statements should be:
 Understood and shared by members of the community
 Broad enough to encompass a variety of local perspectives
 Inspiring and uplifting to everyone involved in your effort
 Easy to communicate - for example, they should be short enough to fit on a T-shirt
Here are a few vision statements which meet the above criteria:
 Healthy children
 Safe streets, safe neighbourhoods
 Every house a home
 Education for all
 Peace on earth (Community..., 2018)
A vision statement has more to do with the future and really describes what an organization plans or
hopes to be in the future. This is more of an inspirational or motivational statement that is meant to drive
employees and also clearly demonstrate an organizations goals to stakeholders (customers, investors,
etc.).
A vision statement shouldn't really discuss the present state of the organization but more what the
organization wants to be and how it wants to be viewed. To be effective the message should be clear,
optimistic, and of course realistic. An unrealistic vision statement, i.e. a corner store owner saying that in
five years the company will be bigger than Walmart, won't be motivating or inspirational but end up
being comical.
The key questions to answer in a mission statement include:
 Where does the organization want to be in 5 years or 10 years?
 How do we want to get there? (Glen, 2013)
As stated and explained above, the way of defining the vision, keeping in view the various factors,
concise, compelling and well explained vision statement is important that attracts the stakeholders. Team
members participate in your dream or idea to make it successful while owning your idea or dream within
the organization. What aim and values we want to create, deliver and achieve in the future successfully
with our stakeholders which will in return make the organization successful.
MISSION- Definition & Explanation:
A written declaration of an organization's core purpose and focus that normally remains unchanged over
time. Properly crafted mission statements: (1) serve as filters to separate what is important from what is
not, (2) clearly state which markets will be served and how, and (3) communicate a sense of intended
direction to the entire organization.
A mission is different from a vision in that the former is the cause and the latter is the effect; a mission is
something to be accomplished whereas a vision is something to be pursued for that accomplishment. It is
also called company mission, corporate mission, or corporate purpose. (Mission statement, 2019)
A mission statement has a more 'present day' focus and really describes how a company plans on
achieving its objectives. This is really a statement to employees, shareholders, and others with an interest

in the organization that clearly articulates what an organization is doing, how it's going to do it, and
ultimately why it's doing it.
For many small businesses this can seem like a trivial item but large organizations spend countless hours,
meetings, and dollars considering their mission statement and its significance. Changing a company's
mission statement can be a major undertaking with numerous consultations and even external advisors
being hired. For any growing business this should underline the significance of creating an effective
mission statement, particularly when it's not part of the business model (or not possible) for the owner to
personally convey the companies mission to everyone.
The key questions to answer in a mission statement include:
 What does the organization do?
 Who does the organization service (i.e. customers)?
 What benefit does the organization provide? (Glen, 2013)
The company mission statement describes the organisation’s visible, tangible work in the world—what
the company does, who it does it for, and how this helps the client. It explains the tangible activities and
overall approach or attitude the company takes as it translates the big picture vision into everyday action.
An organization's mission statement describes what the group is going to do, and why it's going to do
that. Mission statements are similar to vision statements, but they're more concrete, and they are
definitely more "action-oriented" than vision statements. The mission might refer to a problem, such as
an inadequate housing, or a goal, such as providing access to health care for everyone. And, while they
don't go into a lot of detail, they start to hint - very broadly - at how your organization might go about
fixing the problems it has noted. Some general guiding principles about mission statements are that they
are:
 Concise. Although not as short a phrase as a vision statement, a mission statement should still get
its point across in one sentence.
 Outcome-oriented. Mission statements explain the overarching outcomes your organization is
working to achieve.
 Inclusive. While mission statements do make statements about your group's overarching goals,
it's very important that they do so very broadly. Good mission statements are not limiting in the
strategies or sectors of the community that may become involved in the project.
The following mission statements are examples that meet the above criteria.
 "To promote child health and development through a comprehensive family and community
initiative."
 "To create a thriving African American community through development of jobs, education,
housing, and cultural pride.
 "To develop a safe and healthy neighbourhood through collaborative planning, community
action, and policy advocacy." (Community..., 2018)
So, the mission statement describes the organisation purpose and the type of business in, industry, its
goals, target customers, products, services, target markets, communities, and directions for employees. It
states the relations with vendors, suppliers, and other stakeholders. It provides the drive path for the
organization with certain products and/or services with targeted markets or regions with competitive
advantages over the competitors.

Difference between Vision and Mission Statements:
When considering a mission statement vs. a vision statement the key aspect to remember is the current
vs. future context. A mission statement is where you are and why you do it, a vision statement is where
you are going to be and how you want to get there. Employees, shareholders, and other stakeholders can
be provided with quick answers to how an organization views itself and where it plans on being in the
future.
The DO’s and DON’Ts of mission and vision statements: (Glen, 2013)
DO  Use clear, simple, succinct language
 Articulate a tangible, specific yet ambitious goal in your vision statement
 Think 5–10+ years ahead with your vision
 Make it compelling
 Explain your mission and vision so that a seven-year-old could understand it
 Make it specific enough for people to understand what business you’re in
 Think deeply about it, alone and with your colleagues
 Test it out on real people — friends and family members — and ask for their
feedback
DON’T  Be generic, vague or grammatically complex
 Use clichéd, overused jargon (such as describing your company as ‘the leading
provider,’ the ‘best-in-class’ and so on.)
 Make it too wordy
 Muddle together your goals, strategies, aspirations, values and philosophy
 Try to say everything
 Try to be too clever
 Make it understandable only to insiders or employees
 Write one just because you think you ‘should’
Importance of Vision and Mission Statements:
It has been found in studies that organizations that have lucid, coherent, and meaningful vision and
mission statements return more than double the numbers in shareholder benefits when compared to the
organizations that do not have vision and mission statements. Indeed, the importance of vision and
mission statements is such that it is the first thing that is discussed in management textbooks on strategy.
Some of the benefits of having a vision and mission statement are discussed below:
 Above everything else, vision and mission statements provide unanimity of purpose to
organizations and imbue the employees with a sense of belonging and identity. Indeed, vision
and mission statements are embodiments of organizational identity and carry the organizations
creed and motto. For this purpose, they are also called as statements of creed.
 Vision and mission statements spell out the context in which the organization operates and
provides the employees with a tone that is to be followed in the organizational climate. Since
they define the reason for existence of the organization, they are indicators of the direction in
which the organization must move to actualize the goals in the vision and mission statements.
 The vision and mission statements serve as focal points for individuals to identify themselves
with the organizational processes and to give them a sense of direction while at the same time
deterring those who do not wish to follow them from participating in the organization’s
activities.

 The vision and mission statements help to translate the objectives of the organization into work
structures and to assign tasks to the elements in the organization that are responsible for
actualizing them in practice.
 To specify the core structure on which the organizational edifice stands and to help in the
translation of objectives into actionable cost, performance, and time related measures.
 Finally, vision and mission statements provide a philosophy of existence to the employees, which
is very crucial because as humans, we need meaning from the work to do and the vision and
mission statements provide the necessary meaning for working in a particular organization.
So, articulate, coherent, and meaningful vision and mission statements go a long way in setting the base
performance and actionable parameters and embody the spirit of the organization. In other words, vision
and mission statements are as important as the various identities that individuals have in their everyday
lives.
It is for this reason that organizations spend a lot of time in defining their vision and mission statements
and ensure that they come up with the statements that provide meaning instead of being mere sentences
that are devoid of any meaning. (Juneja , 2019)
Examples of VISION and MISSION statements:
Company: Tesla
Vision: To create the most compelling car company of the 21st century by driving the
world’s transition to electric vehicles.
Mission: To accelerate the world’s transition to sustainable energy.
Company: Amazon
Vision: To be Earth’s most customer-centric company, where customers can find and
discover anything they might want to buy online.
Mission: We strive to offer our customers the lowest possible prices, the best available
selection, and the utmost convenience.
Company: Patagonia
Vision: A love of wild and beautiful places demands participation in the fight to save them,
and to help reverse the steep decline in the overall environmental health of our planet.
Mission: Build the best product, cause no unnecessary harm, use business to inspire and
implement solutions to the environmental crisis.
Company: TED
Vision: We believe passionately in the power of ideas to change attitudes, lives and,
ultimately, the world.
Mission: Spread ideas.
Company: LinkedIn
Vision: To create economic opportunity for every member of the global workforce.
Mission: To connect the world’s professionals to make them more productive and
successful.
Company: Google
Vision: To provide access to the world’s information in one click.
Mission: To organize the world’s information and make it universally accessible and
useful.
Company: Uber
Vision: Smarter transportation with fewer cars and greater access. Transportation that’s
safer, cheaper, and more reliable; transportation that creates more job opportunities and
higher incomes for drivers.
Mission: Uber’s mission is to bring transportation — for everyone, everywhere.

Company: AirBnB
Vision: Tapping into the universal human yearning to belong — the desire to feel
welcomed, respected, and appreciated for who you are, no matter where you might be.
Mission: Belong anywhere.
Company: Intel
Vision: If it is smart and connected, it is best with Intel.
Mission: Utilize the power of Moore’s Law to bring smart, connected devices to every
person on earth.
Company: Ferrari
Vision: Ferrari, Italian Excellence that makes the world dream.
Mission: We build cars, symbols of Italian excellence the world over, and we do so to win
on both road and track. Unique creations that fuel the Prancing Horse legend and generate a
“World of Dreams and Emotions”.
Company: Caterpillar
Vision: Our vision is a world in which all people’s basic needs — such as shelter, clean
water, sanitation, food and reliable power — are fulfilled in an environmentally sustainable
way and a company that improves the quality of the environment and the communities
where we live and work.
Mission: To enable economic growth through infrastructure and energy development, and
to provide solutions that support communities and protect the planet.
Company: Toyota USA
Vision: To be the most successful and respected car company in America.
Mission: To attract and attain customers with high-valued products and services and the
most satisfying ownership experience in America.
Company: Facebook
Vision: People use Facebook to stay connected with friends and family, to discover what’s
going on in the world, and to share and express what matters to them.
Mission: To give people the power to build community and bring the world closer together.
Company: Sony
Vision: Using our unlimited passion for technology, content and services to deliver
groundbreaking new excitement and entertainment, as only Sony can.
Mission: A company that inspires and fulfils your curiosity.
Company: Samsung
Vision: Inspire the world. Create the future.
Mission: Inspire the world with our innovative technologies, products and design that
enrich people’s lives and contribute to social prosperity by creating a new future.
Company: Ikea
Mission: Offer a wide range of well-designed, functional home furnishing products at
prices so low that as many people as possible will be able to afford them.
Vision: To create a better everyday life for the many people.
(Skrabanek, 2018)
OBJECTIVES- Definition & Explanation:
Once an organization has developed its mission statement, its next step is to develop the specific
objectives that are focused on achieving that mission. Objectives are the specific measurable results of
the initiative. An organization's objectives offer specifics of how much of what will be accomplished by
when.
For example, one of several objectives for a community initiative to promote care and caring for older
adults might be: "By 2024 (by when), to increase by 20% (how much) those elders reporting that they are
in daily contact with someone who cares about them (of what)."

There are three basic types of objectives. They are:
 Behavioral objectives. These objectives look at changing the behaviors of people (what they are
doing and saying) and the products (or results) of their behaviors. For example, a neighborhood
improvement group might develop an objective for having an increased amount of home repair
taking place (the behavior) and fewer houses with broken or boarded-up windows (the result).
 Community-level outcome objectives. These are often the product or result of behavior change
in many people. They are focused on change at the community level instead of an individual
level. For example, the same neighborhood group might have an objective of increasing the
percentage of people living in the community with adequate housing as a community-level
outcome objective.
 Process objectives. These are the objectives that provide the groundwork or implementation
necessary to achieve your other objectives. For example, the group might adopt a comprehensive
plan for improving neighborhood housing. In this case, adoption of the plan itself is the
objective.
These different types of objectives aren't mutually exclusive. Most groups will develop objectives in
all three categories. And all of the different types of objectives should be used as intermediate
markers of the organization's progress.
The best objectives have several characteristics in common. They are all S.M.A.R.T. + C.:
 They are specific. That is, they tell how much (e.g., 10%) of what is to be achieved (e.g.,
what behavior of whom or what outcome) by when (e.g., by 2025)?
 They are measurable. Information concerning the objective can be collected, detected, or
obtained from records (at least potentially).
 They are achievable. Not only are the objectives themselves possible, it is likely that your
organization will be able to pull them off.
 They are relevant to the mission. Your organization has a clear understanding of how these
objectives fit in with the overall vision and mission of the group.
 They are timed. Your organization has developed a timeline (a portion of which is made
clear in the objectives) by which they will be achieved.
 They are challenging. They stretch the group to set its aims on significant improvements
that are important to members of the community.
Why to Create Objectives
There are many good reasons to develop objectives for your initiative. They include:
• Having benchmarks to show progress.
• Completed objectives can serve as a marker to show members of your organization, funders, and
the greater community what your initiative has accomplished.
• Creating objectives helps your organization keep focused on initiatives most likely to have an
impact.
• Keeping members of the organization working toward the same long-term goals.
Define or Reaffirm Vision and Mission Statements
The first thing you will need to do is review the vision and mission statements your organization has
developed. Before you determine your objectives, you should have a "big picture" that they fit into.

Set the Objectives for your Organization or Initiative
With all of this information in mind, your organization is ready to set some short-term goals or
objectives that are feasible but demanding. Remember, objectives refer to specific measurable
results. These changes in behavior, outcome, and process must be able to be tracked and measured
in such a way to show that a change has occurred.
Use Your Objectives to define your Organization's Strategies
Finally, once you have your objectives, you are ready for the next step: developing the strategies
that will make them possible. Once your objectives are finished, and satisfactory to members of the
organization and important people outside of your group, you are ready to move on to developing
successful strategies. (Community Tool Box, 2018)
Difference between Goals and Objectives
Goals are defined as the target or purpose that a person imagines or plans to accomplish or to reach or to
achieve in future. They are the driving force that directs a person to make efforts to achieve it. The aim or
target which you want to achieve within a limited period is known as the objective. They are the
milestones that help you to reach your goal. That is why they are also termed as sub-goals. It is a step to
reach a particular point. Suppose I want to score 90% marks in an exam to get admission in a good
university.
Objectives are easily measured when the target is achieved. For example, A company wants to increase
its sales by 50% in the upcoming six months and then when it hits the target it can be measured through
the sales figure.
The major differences between goals and objectives are below:
1. The goals are the broad targets, which can be achieved through continuous actions taken in the
particular direction. Objectives are the aims that you want to achieve in a short span of time.
2. The goals are the result i.e. a primary outcome, but if we talk about objective, it is a stepping
stone for achieving the goal.
3. The goals are based on ideas, whereas objectives are facts based.
4. When it is about the time limit, it is difficult to determine correctly that in how much time it can
be achieved, but objectives can be time bound, in essence, they can be attained in a given period.
5. It is hard to measure goals, i.e. how much distance you have covered till now, while chasing your
goal and how much is left to be achieved. On the other hand, objectives are easy to measure.
6. The goals are abstract, while objectives are concrete.
7. The goals require general actions to attain it. As opposed to objectives, that needs specific
actions. (Key Differences, 2019)
Objectives are very important that are explained and defined in measurable values keeping in view the
mission statement of the organizations. Objectives explain the measureable steps and approach to follow
to achieve the targeted goals based on the mission of the organization. Normally, goals are defined or
aimed high realistically with time frame, to motivate, encourage, and to create eager efforts of the team
members to achieve them. Within the certain timeframe, attainable and measureable objectives are
targeted to accomplish in order to reach the defined goals gradually. Results measure the attained ratio of
objectives within certain timeframe. Strategies define the approach to adopt discrete steps, process,
procedures, and methodologies to accomplish desired objectives within specific time, and with available
resources.

STRATEGY- Definition & Explanation:
The word “strategy” is derived from the Greek word “stratçgos”; stratus (meaning army) and “ago”
(meaning leading/moving).
Strategy is an action that managers take to attain one or more of the organization’s goals. Strategy can
also be defined as “A general direction set for the company and its various components to achieve a
desired state in the future. Strategy results from the detailed strategic planning process”.
A strategy is all about integrating organizational activities and utilizing and allocating the scarce
resources within the organizational environment so as to meet the present objectives. While planning a
strategy it is essential to consider that decisions are not taken in a vaccum and that any act taken by a
firm is likely to be met by a reaction from those affected, competitors, customers, employees or suppliers.
Strategy can also be defined as knowledge of the goals, the uncertainty of events and the need to take into
consideration the likely or actual behavior of others. Strategy is the blueprint of decisions in an
organization that shows its objectives and goals, reduces the key policies, and plans for achieving these
goals, and defines the business the company is to carry on, the type of economic and human organization
it wants to be, and the contribution it plans to make to its shareholders, customers and society at large.
Features of Strategy
1. Strategy is Significant because it is not possible to foresee the future. Without a perfect foresight,
the firms must be ready to deal with the uncertain events which constitute the business
environment.
2. Strategy deals with long term developments rather than routine operations, i.e. it deals with
probability of innovations or new products, new methods of productions, or new markets to be
developed in future.
3. Strategy is created to take into account the probable behavior of customers and competitors.
Strategies dealing with employees will predict the employee behavior.
Strategy is a well defined roadmap of an organization. It defines the overall mission, vision and
direction of an organization. The objective of a strategy is to maximize an organization’s strengths and to
minimize the strengths of the competitors. Strategy, in short, bridges the gap between “where we are”
and “where we want to be”. (Juneja , 2019)
Why Strategy is Important?
Here are five reasons why strategy plays such an important part of any company’s success.
1. Planning – Creating and tracking progress against an annual operating plan is an essential
management tool for any company. The annual plan then becomes the stepping stone toward
the achievement of the longer term goals.
2. Strengths and Weaknesses –No one knows your business better than you. Are you leveraging
strengths (competitive advantages) and do you have plans to close capability gaps in your
organization (weaknesses)? Strategy creates a higher level of awareness and provides greater
focus on activities that will make the organization more successful.
3. Skills & Knowledge – If you know where you want to take your business over the long term,
you will have a much better idea of the kinds of capabilities you will need to achieve your

goals. Strategy defines and drives decisions in organizational design. Therefore by
proactively pursuing new skills and knowledge, you prepare the organization for the intended
future state and your odds of success increase.
4. Resource allocation – Resources are finite. Strategy is about making choices. What products,
services and markets will be a part of the future and what we should not do? These types of
decisions are critical to ensuring that limited resources are being deployed to the most
promising opportunities that will provide the greatest return.
5. Environmental Scan –There is a huge opportunity excel in performance with a well-crafted
strategy. Execution without strategy is aimless. We should have an eye on our environment
internally and externally to compete in the market with improved functioning of the
organization. (Albu Consulting, 2017)
Levels of Strategy
Strategy levels execute the organizations’ functioning to achieve the organizations’ mission and
objectives. There are three levels of strategy in terms of scope:
1. Corporate-level (Portfolio)
At the highest level, corporate strategy involves high-level strategic decisions that will help a
company sustain a competitive advantage and remain profitable in the foreseeable future.
Corporate-level decisions are all-encompassing of a company.
2. Business-level
At the median level of strategy are business-level decisions. The business-level strategy focuses
on market positions to help the company gain a competitive advantage in its own industry or
other industries.
3. Functional-level
At the lowest level are functional-level decisions. They focus on activities within and between
different functions aimed at improving the efficiency of the overall business. The strategies are
focused on particular functions and groups. (CFI Education, 2019)
Steps in Strategy Formulation Process
Strategy formulation refers to the process of choosing the most appropriate course of action for the
realization of organizational goals and objectives and thereby achieving the organizational vision. The
process of strategy formulation basically involves six main steps. Though these steps do not follow a
rigid chronological order, however they are very rational and can be easily followed in this order.
1. Setting Organizations’ objectives - The key component of any strategy statement is to set the
long-term objectives of the organization. It is known that strategy is generally a medium for
realization of organizational objectives. Objectives stress the state of being there whereas
Strategy stresses upon the process of reaching there. Strategy includes both the fixation of
objectives as well the medium to be used to realize those objectives. Thus, strategy is a wider
term which believes in the manner of deployment of resources so as to achieve the objectives.
2. Evaluating the Organizational Environment - The next step is to evaluate the general economic
and industrial environment in which the organization operates. This includes a review of the
organizations competitive position. It is essential to conduct a qualitative and quantitative review
of an organizations existing product line. The purpose of such a review is to make sure that the

factors important for competitive success in the market can be discovered so that the
management can identify their own strengths and weaknesses as well as their competitors’
strengths and weaknesses.
After identifying its strengths and weaknesses, an organization must keep a track of competitors’
moves and actions so as to discover probable opportunities of threats to its market or supply
sources.
3. Setting Quantitative Targets - An organization must practically fix the quantitative target values
for some of the organizational objectives. The idea behind this is to compare with long term
customers, so as to evaluate the contribution that might be made by various product zones or
operating departments.
4. Aiming in context with the divisional plans - The contributions made by each department or
division or product category within the organization is identified and accordingly strategic
planning is done for each sub-unit. This requires a careful analysis of macroeconomic trends.
5. Performance Analysis - Performance analysis includes discovering and analyzing the gap
between the planned or desired performance. A critical evaluation of the organizations past
performance, present condition and the desired future conditions must be done by the
organization. This critical evaluation identifies the degree of gap that persists between the actual
reality and the long-term aspirations of the organization. An attempt is made by the organization
to estimate its probable future condition if the current trends persist.
6. Choice of Strategy - The best course of action is actually chosen after considering organizational
goals, organizational strengths, potential and limitations as well as the external opportunities.
(Juneja , 2019)
Strategic Analysis Process
This analysis enables the organization to review, re-evaluate, and modify their strategy as required for
improved functioning of the organization for competitive advantages in the market.
The following infographic demonstrates the strategic analysis process:
1. Perform an environmental analysis of current strategies
Starting from the beginning, a company needs to complete an environmental analysis of its current
strategies. Internal environment considerations include issues such as operational inefficiencies,
employee morale, and constraints from financial issues. External environment considerations include
political trends, economic shifts, and changes in consumer tastes. Organizations’ perform the analysis
below:
 SWOT Analysis (Strength, Weakness, Opportunities, Threats)
 Portfolio Analysis
 PEST Analysis (Political, Economic, Social, Technological Environment)
2. Determine the effectiveness of existing strategies
A key purpose of a strategic analysis is to determine the effectiveness of the current strategy
amid the prevailing organizations’ environment. Strategists must ask themselves questions such
as: Is our strategy failing or succeeding? Will we meet our stated goals? Does our strategy align
with our vision, mission, and objectives?

3. Formulate plans
Strategists may propose ways to keep costs low and operations leaner. Potential strategic
alternatives include changes in capital structure, changes in supply chain management, or any
other alternative to a business process keeping in view the type of business and the industry and
market competition.
4. Recommend and implement the most viable strategy
After assessing strategies and proposing alternatives, we reach the recommendation. After
assessing all possible strategic alternatives, we choose to implement the most viable and
quantitatively profitable strategy. After producing a recommendation, we iteratively repeat the
entire process. Strategies must be implemented, assessed, and re-assessed. They must change
because business environments are not static. (CFI Education, 2019)
Statements of
a Few
Organizations and Discussion
Amazon:
Amazon.com Inc.’s mission and vision statements contribute to the company’s status as one of the largest
online retailers in the world. This success is attributed to stringent measures to ensure that the vision and
mission statements are fulfilled. Amazon Vision and Mission statements are below:
Vision: To be Earth’s most customer-centric company, where customers can find and
discover anything they might want to buy online.
Mission: We strive to offer our customers the lowest possible prices, the best available
selection, and the utmost convenience.
Discussion
Amazon.com’s corporate mission and vision statements are fundamental in developing strategies to
support the company’s competitive advantages against firms like Google, eBay, Apple, Walmart, and
Costco Wholesale. These competitors create the strong force of competitive rivalry evaluated in the
Porter’s Five Forces analysis of Amazon.com Inc. The company’s corporate vision and mission
statements also influence the operations of its subsidiaries, such as Whole Foods Market. Considering the

variety of its products, which include online retail services, digital content distribution, cloud computing
services, and computer software and hardware, Amazon.com Inc. aligns its vision statement with its
mission statement to unify its diverse operations in various industries.
Vision: To be Earth’s most customer-centric company, where customers can find and discover
anything they might want to buy online.
Amazon.com’s vision statement possesses strong characteristics, such as the specification of the
company’s target market and an aspect of its marketing mix. However, this corporate vision satisfies only
some of the conventional characteristics of ideal vision statements. For example, Amazon’s corporate
vision is concise, clear, and abstract enough to ensure suitability in various areas of the business.
This vision statement underscores the business organization’s main aim of becoming the best e-
commerce company in the world. In this regard, the following characteristics are identifiable in
Amazon’s corporate vision statement:
 Global reach
 Customer-centric approach
 Widest selection of products
The customer-centric approach in Amazon’s corporate vision statement shows that the company
considers customers as among the most important stakeholders in the online retail business.
Mission: We strive to offer our customers the lowest possible prices, the best available selection, and
the utmost convenience.
This corporate mission promises attractive e-commerce services to satisfy target customers’ needs.
Company includes target customers and market, variety of products, and basic business aims (pricing and
convenience) in the corporate mission. The company focuses on the variables of price, selection, and
convenience. In this regard, the following characteristics are identifiable in Amazon’s corporate mission
statement:
 Lowest prices
 Best selection
 Utmost convenience
Low prices are a selling point that makes the company’s e-commerce website and services attractive. A
corresponding strategic objective is to reduce operational costs to enable the business to minimize prices.
Amazon’s corporate mission statement also points to having the best selection. For example, the wide
array of products on the company’s website is a factor that attracts customers. Moreover, Amazon.com
Inc.’s corporate mission emphasizes convenience, such as in accessing the company’s products via the
Internet. This characteristic is a response to consumers’ use of “convenience” as a criterion when
evaluating the quality and attractiveness of online retail services. (Gregory, 2019).
Intel:
Intel Corporation’s vision statement and mission statement are directly linked to the nature of the
semiconductor technology business. The corporate vision statement describes the target future condition
of the business. On the other hand, the corporate mission statement determines the strategic actions suited

to reach the vision. the mission statement is based on what one of the company’s founders envisioned
regarding the business and its nature. However, the corporate vision statement is a general statement that
describes the output of Intel’s business.
Mission: Utilize the power of Moore’s Law to bring smart, connected devices to every
person on earth.
This corporate vision is a general description of what the company does. The following are the main
characteristics of the company’s vision statement:
 Smart and connected
 Best with Intel
The first characteristic of the corporate vision describes Intel’s organizational output. For example, smart
and connected products include mobile computing devices that use the company’s processors. This
feature of the vision statement defines the kinds of products that Intel aims to provide to its target market.
The second characteristic of the corporate vision statement highlights the capability of the company. The
phrase “best with Intel” means that the company sees itself as the most qualified and capable of
providing smart and connected products.
Mission: Utilize the power of Moore’s Law to bring smart, connected devices to every person on earth.
This corporate mission clearly shows what the company intends to do to strategically grow and to capture
the global market. The following are the main characteristics of Intel’s mission statement:
 Power of Moore’s Law
 Smart, connected devices
 Every person on earth
The first characteristic of the corporate mission statement defines part of Intel’s strategy, based on
Moore’s Law, which states that the transistor count in integrated circuit chips doubles every one to two
years. This feature of the mission statement is a straightforward strategic guide for product development.
On the other hand, the second characteristic of Intel’s corporate mission echoes the vision statement in
determining organizational output. However, the mission statement is more specific in including
“devices” in this feature. Moreover, the target market is included in Intel’s mission statement, as
specified in the third characteristic. For example, based on “every person on earth,” the company targets
the global market for semiconductors, microprocessors, and related computing technologies.
Intel Corporation’s mission statement satisfies conventions on writing corporate mission statements.
These conventions require specific details on what the company plans to do to achieve its corporate
vision. It is clear in the mission statement that Intel plans to keep enhancing its products, based on
Moore’s Law, and to bring these smart and connected products to all customers worldwide. (Rowland,
2017)

Facebook:
Facebook Inc. is among the largest online social networks in the world. This market position aligns with
the company’s mission statement and vision statement, which point to leadership in impacting the
world’s social relations. A company’s corporate vision statement describes the condition that the business
wants to achieve. In this case, Facebook’s vision statement guides employees in focusing their efforts to
support corporate effectiveness in growing the business internationally. On the other hand, a company’s
corporate mission statement identifies the primary aims and actions needed to reach the vision.
Vision: People use Facebook to stay connected with friends and family, to discover what’s
going on in the world, and to share and express what matters to them.
Vision: People use Facebook to stay connected with friends and family, to discover what’s going on in
the world, and to share and express what matters to them.
This corporate vision shows that the business is not just a basic online social networking site. Instead, the
company also facilitates knowledge acquisition and valuable communication among individual users.
Facebook’s vision statement has the following main components:
 Global market scope
 Tool for communication
 Tool for discovery
 Tool for self-expression
The “global market scope” component of Facebook’s corporate vision is based on the company’s
specification of “people” as users, indicating everyone around the world. The corporate vision also shows
that the company sees itself as a facilitator of communication among friends and family. Moreover,
Facebook Inc. aims to be a global discovery tool through information access. In addition, the company
aims to make its online social network a global tool for self-expression. These components of Facebook’s
vision statement require the company to grow internationally to maintain its leadership position in the
multinational social media market.
Facebook’s vision statement guides employees in focusing their efforts to support corporate effectiveness
in growing the business internationally.
This new mission statement was implemented in the midst of data privacy and security issues involving
Cambridge Analytica and other parties. In early 2017, the company’s corporate mission was “to give
people the power to share and make the world more open and connected.” In this regard, the new
corporate mission shows that the company now focuses on making its social networking web site an
important part of community development. The following are the major components of Facebook’s
mission statement:
 Empowering people
 Enabling community building
 Connecting the world

The “empowering people” component of Facebook’s mission statement signifies the company’s goal of
making its online social networking service a means to make users more capable online. In addition, the
corporate mission shows that this capability is in the form of community building. For example, people
can use the social network to facilitate communication and information sharing among members of
communities. These communities include neighbourhoods, foundations, shared-interest communities, and
a wide variety of virtual communities. In connection with the corporate vision, the mission statement
further indicates that Facebook Inc. has the goal of connecting the world. Connections are created when
users communicate through the social media website and its corresponding mobile apps. In relation, the
company enables businesses to connect with their customers. (Smithson, Feb. 2019)
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Albu Consulting. (2017). 5 Reasons Why Strategy is Important. Retrieved from http://albu-strategymanagement.com/2014/11/5-reasons-strategy-important/
CFI Education Inc. (2019). Strategy Resources. Retrieved from https://corporatefinanceinstitute.com/resources/knowledge/strategy/
Community Tool Box. (2018). Developing a Strategic Plan. Retrieved from https://ctb.ku.edu/en/table-of-contents/structure/strategic-planning/vmosa/main
Fernandes, P. (2018). What Is a Vision Statement? Business News Daily. Retrieved from https://www.businessnewsdaily.com/3882-vision-statement.html
Glen, J. (2013). Mission Statement vs. Vision Statement. Business Dictionary. Retrieved from http://www.businessdictionary.com/article/1089/mission-statement-vs-
vision-statement-d1412/
Gregory, L. (2019). Amazon.com Inc.’s Mission Statement & Vision Statement (An Analysis). Panmore Institute. Retrieved from http://panmore.com/amazon-com-
inc-vision-statement-mission-statement-analysis
Juneja , P. (2019). Strategic Management. Management Study Guide. Retrieved from https://www.managementstudyguide.com/strategic-management-articles.htm
Key Differences. (2019). Difference between Goals and Objectives. Retrieved from https://keydifferences.com/difference-between-goals-and-objectives.html
Mission statement. (2019). BusinessDictionary.com. Retrieved from http://www.businessdictionary.com/definition/mission-statement.html
Rowland, C. (2017). Intel Corporation’s Vision Statement & Mission Statement. Panmore Institute. Retrieved from http://panmore.com/intel-corporation-vision-
statement-mission-statement
Skrabanek, B. (2018). Difference between Vision and Mission Statements: 25 Examples. Clear Voice. Retrieved from https://www.clearvoice.com/blog/difference-
between-mission-vision-statement-examples/
Smithson, N. (Feb., 2019). Facebook Inc.’s Mission Statement & Vision Statement (An Analysis). Panmore Institute. Retrieved from http://panmore.com/facebook-
inc-vision-statement-mission-statement

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