Exploring Strategy Individual Assignment

Exploring Strategy Individual Assignment

Contents
Introduction ................................................................................................................................................... 1
1. Explain the meaning of, difference between, and rationale for developing a “Vision Statement”
and a “Mission Statement,” from a business perspective. Draw on relevant Strategic Management
theory (e.g. quotes/sources, referenced in accordance with Harvard conventions) .............................. 2
What is Mission Statement?...................................................................................................................... 2
What is Vision Statement? ........................................................................................................................ 2
2. Critically evaluate the “Vision Statement” and “Mission Statement” of at least one company of
your choice ................................................................................................................................................... 4
3. Set out your personal “Vision Statement” and explain the rationale for this ............................... 5
4. Using bullet points, identify the critical steps needed to fulfil your vision within 5 years................ 6
5.Summaries the challenges (“threats” and/or personal “weaknesses”) that may be encountered
when moving towards fulfilment of your vision. What proactive steps could be taken to minimize
or overcome these? ...................................................................................................................................... 7
Threats ...................................................................................................................................................... 7
Weaknesses – ............................................................................................................................................ 7
Proactive Steps for Above Threats and Weakness.................................................................................... 7
Conclusion .................................................................................................................................................... 8
References ..................................................................................................................................................... 9
Appendix A: Question 3 ........................................................................................................................... 10
Exploring Strategy Individual Assignment

Table 1 : Differences Between Mission and a Vision Statement ............................................... 2

Table 2 : Rationale for Developing Mission Statement and a Vision Statement .................... 3
Exploring Strategy Individual Assignment

Introduction
This assessment critically analyse the main features of strategic management. Which includes
“Strategic Vision Statement” and identify challengers and proactive strategies to overcome and
the related activities help to identify future career goals and plan to achieve these goals.

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Exploring Strategy Individual Assignment

1. Explain the meaning of, difference between, and rationale for developing a “Vision
Statement” and a “Mission Statement,” from a business perspective. Draw on
relevant Strategic Management theory (e.g. quotes/sources, referenced in
accordance with Harvard conventions)

What is Mission Statement? Mission Statements can be defined as “enduring statements of

purpose that distinguish one organization from other similar enterprises” A mission statement
answers the question “What Business are we in?” and it answers the question for everyone in the
company (Forest R.David, 2003). “To empower every person and every organization on the
planet to achieve more” (Microsoft , 2019) is the mission statement of the Microsoft, according
to this mission statement it shows the main objective of the company by highlighting the key
term of Empowerment. Also, it has mentioned the 2 recipients as people and organizations.
Furtherly clarifying What is mission Statement, A mission is a general expression of the overall
purpose of the organization, which, ideally, is in line with the values and expectations of major
stakeholders and concerned with the scope and boundaries of the organization (Johnson.G,
2009).

What is Vision Statement? A vision or strategic intent is the desired future state of the
organization. It is an aspiration around which a strategist, perhaps a chief executive, might seek
to focus the attention and energies of members of the organization (Johson.G, 2009). “To help
people and businesses throughout the world realize their full potential” (Microsoft, 2019) is
the Vision Statement of the Microsoft, according to the vision statement it shows not only how
the company can spark the positivity and the company’s desired future state of the organization
but also how company ignite positive changes in its customers.

Table 1 : Differences Between Mission and a Vision Statement

Difference Mission Vision

1 A statement that describes the A short statement that depicts
company's objectives and its the company's aspiration for the
approach to reach those future position of the company.
objectives
2 Mission Statement Talks about Vision Statement talks about the
the Cause. effect.
3 Mission Statement may Vision statement remains the
Changes if required by the same till the company survives.
company.
4 Mission Statement shows Vision Statement shows where
Where we are at present? we want to be?
5 Mission is Short Term Vision is Long Term

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Exploring Strategy Individual Assignment

6 Mission Statement is made to Vision Statement is made to

inform Inspire

Table 2 : Rationale for Developing Mission Statement and a Vision Statement

Why a company should have a vision Why a company should have mission Statement
statement
Vision statement will help to where the A company should have a mission statement to
business is going, if you don’t know where the become success in their area of business domain.
business is going as top-level manager or an Mission statement will guide the company forward
intern the business going to end up nowhere. allowing all the individuals and the teams to face the
Vision statement is the foundation of a Challengers and develop strategies to ensure the
business which will be around next Fifty or stability through any situation. A mission statement
Hundred years. also helps to shape up the company culture. This
Having a vision statement will motivate allows employees to know what are the expectations
company employees and it create an easiness and customize their work, communications
to make better sustainably decisions. A accordingly. This will gain a huge advantage
company with compelling vision is very towards the company by increasing company overall
inspiring to the employees who wants to make performance.
a difference with their lives and to be inspire to
others. As an example, Sony’s Vision
statement in 1950s was “Fifty years from now,
our brand name will be as well-known as any
on earth,” (Douglas.E, 2013),Because of this
vision statement any Japanese person who had
this same motivation was employed. This
proves having a vision statement will inspire
and motivate your employees to go the extra
mile to make company success.

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Exploring Strategy Individual Assignment

2. Critically evaluate the “Vision Statement” and “Mission Statement” of at least one
company of your choice

“To inspire and nurture the human spirit – one person, one cup and one neighborhood at
a time” (Starbucks Coffee Company, 2019) . Above Mission statement is Starbucks’s Coffee’s
Corporate vision statement. This Mission statement clearly indicates the what company does.

Inspire and nurture the human spirit: - Starbucks have started this with its employees by
maintaining small company culture where warmth is important. In addition to this addressing the
mission statement directly they are using employees and customer’s first name whenever the
communications happen. One person, one cup and one neighborhood at a time: - This part of
the Mission indicates that company confirms meaningful impact on every employee and
Customer. Also, they plan to continually grow the company one place or neighborhood at a time.

“To establish Starbucks as the premier purveyor of the finest coffee in the world while
maintaining our uncompromising principles while we grow”. (Starbucks Coffee Company,
2019) Above statement is the corporate Vision statement.

To be the premier purveyor means Starbucks’s wants to be the leader in providing coffee of the
best quality. Company achieves this by multinational expansion as one of the largest coffee
companies in the world. The company now has more 28,000 locations around the world. (Kohen,
2005)

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Exploring Strategy Individual Assignment

3. Set out your personal “Vision Statement” and explain the rationale for this

To become the Sri Lanka’s best Motivational Speaker and Personality Development training
specialist to help and inspire everyone.

“Every one of us is special, unique. Through Believe, every one of us can find the uniqueness in
ourselves. Consistency of believe makes every one of us inspire others. It will create a great
cause to believing in themselves and helping others without expecting noting in return.”
(Appendix A)

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Exploring Strategy Individual Assignment

4. Using bullet points, identify the critical steps needed to fulfil your vision within 5 years
• Start a volunteer group of organization which do free leadership training programs for
School students – 2020 February to December
• Spread the word about volunteer organization through social media by creating platform
to people who need help and create a platform to one on one, group discussions. – 2021
January to December
• To become Internationally certified transformative coach – 2022 Jan- Dec
• Start and complete MBA in psychology (2022 Sep – 2023 Dec)
• Expand the volunteer organization through different kinds of programs by introducing it
to the cooperate sector (2023)

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Exploring Strategy Individual Assignment

5.Summaries the challenges (“threats” and/or personal “weaknesses”) that may be

encountered when moving towards fulfilment of your vision. What proactive steps could
be taken to minimize or overcome these?

Threats – Developing an own unique Brand, Expertise and experience

Weaknesses – Training Practice

Proactive Steps for Above Threats and Weakness

Building a web site with a portfolio information, Adding testimonials from training programs.
Creating and spreading the word through Social media specially uploading video content on You
tube. Expertise and experience come through being exposed to industry level training programs,
working as a Training and Development HR officer in London Stock Exchange group gave me
exposure to meet Internationally and Locally experienced trainers. Which gives me the
understanding of before starting personal training, assess my own experience and work through
material which draws on my life. Bring real-life examples to the process to create a strong sense
of Believe and inspiration of the trainees. To overcome the Training Practice Weakness, Taking
Part in Training courses and public speaking classes is a great means of training. Gain public
speaking credentials by completing courses. This adds professionalism to my resume and ensures
clients that I am qualified. Using resources like Toastmasters and Dale Carnegie will add an
extra advantage for me to become a Motivational speaker and to find my own unique voice.

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Exploring Strategy Individual Assignment

Conclusion
To conclude, as I am happy to say my Vision Statement and Reflection Report assessment was a
success and I’m happy about what I was able to do achieve and learn through this 1st learning
outcome of Exploring Strategy Module.

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Exploring Strategy Individual Assignment

References
Douglas.E, 2013. Vision Statement Examples from High-Performing Organizations. [Online]
Available at: https://leading-resources.com/strategic-planning/vision-statement-examples-from-
high-performing-organizations/
[Accessed 12 November 2019].

Forest R.David, F. R., 2003. Its time to redraft your mission statement. The Journal of Business
Strategy, p. 11.

Johnson.G, S., 2009. Fundamentals of Strategy. Essex: Pearson Education Limited.

Johson.G, S., 2009. Fundamentals of Strategy. Essex: Pearson Education Limited.

Kohen, N., 2005. Howard Schultz and starbucks coffee company. Boston: Harvad Business
School.

Microsoft , 2019. Microsoft/About us. [Online]

Available at: https://www.microsoft.com/en-us/about
[Accessed 11 November 2019].

Microsoft, 2019. Microsoft/About us. [Online]

Available at: https://www.microsoft.com/en-us/about
[Accessed 12 November 2019].

Starbucks Coffee Company, 2019. https://www.starbucks.com/about-us/company-

information/mission-statement. [Online]
Available at: https://www.starbucks.com/about-us/company-information/mission-statement
[Accessed 12 November 2019].

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Exploring Strategy Individual Assignment

Appendix A: Question 3

My passion has always been how can we inspire others by believing them and helping out by
motivating them. Whenever I can help anyone I do it without expecting nothing in return.
Because I do believe Giving is a Strength, Kindness is a Strength, expecting nothing in return is
the ultimate strength. Adding another point, for the past 4 year and half of my life I got to meet
different people who are in different level of the society, out of the 4 years and half last 6 months
was really special. Because I started my career as a HR Intern specializing under training and
development area. Through that I got a chance to meet different trainees and different managers.
If I highlight a one incident, there was technical training which was dragged and hold for a one
year because company is going through some major changes since there was an acquisition. This
incident happened to me with in the first two weeks after I started my job. One of the managers
who is responsible for Live operations called me and scolded me for straight 15mins, but I never
knew why is he? The reason was the dragged technical training program (AWS Amazon web
services). So, I reported this to my executive and she was not giving her much attention to this
incident because of the workload she has to go through. Immediately I called back that manager
and block his calendar sending a meeting request. I met him the same day and talked with him
about this issue. The best thing I heard from his was he told “My team needs this because they
Believe in working hard and updating their knowledge to the latest”. “He believed “in his team. I
haven’t had any knowledge about the training program but quickly I started to read about it and
found a training vendor who conduct AWS training programs. I contacted the vendor and
completed all the process that should go through and registered 20 of our company employees
with in 1 week. I did all of that as quick as possible because he Believed in working hard. I did
the same in return to him. After that week on a Monday I received a mail from the manager
thanking me for working hard in order to getting things done. The best thing I learned from this
company scenario was always believe in people rather than focusing only increasement of
numbers.

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