Question
Detail information on this topic. One of the first steps in good strategy design should be crafting the mission statement for the organization. A mission
Detail information on this topic.
One of the first steps in good strategy design should be crafting the mission statement for the organization. A mission statement has a unique ability to focus the efforts of every employee in the company if and only if it is designed well and is implemented with a singular focus. Once a company has crafted the elements that constitute their competitive advantages, the implementation of that strategy (the competitive advantages) logically begins with a useful, focused mission grounded in those advantages that every individual in the company can use to make decisions. Well-trained, motivated employees absent an effective, unifying mission will head in the direction that they believe is the best for the company. This may or may not align with the focus of the top management team. An effective mission statement not only needs to be specific to that organization; it must enable a common thread to highlight and focus the energy of everyone in the organization in the direction that the top management team believes is best for the business. A well-crafted mission statement has five common elements:
It must be short so that every employee can remember the statement, The design must be simple so that everyone in the company can understand what the senior leadership team desires. It has to provide direction to the activities of company employees. The statement should enable employees knowing exactly what the company does and what it does not do. The statement should be measurable so that the company can visibly see progress
A company's objectives are also critical to the effort to implement a strategy. They can either focus too much on short-term operational goals or be so general that they provide little real guidance. There may be a gap between planned and achieved objectives. When such a gap occurs, either the strategies have to be changed to improve performance or the objectives need to be adjusted downward to be more realistic. Consequently, objectives should be constantly reviewed to ensure their usefulness. This is what happened at Boeing when management decided to change its primary objective from being the largest in the industry to being the most profitable. This had a significant effect on its strategies and policies. Following its new objective, the company canceled its policy of competing with Airbus on price and abandoned its commitment to maintaining a manufacturing capacity that could produce more than half a peak year's demand for airplanes.
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