Fundamentals of Planning A mission statement expresses an organization's reason for being. A vision statement expresses what an organization wishes to become. These mission and vision statements then drive strategic planning, tactical planning, and operational planning. This activity is important because proper planning is essential for providing an organization with the direction and momentum it needs to reach its goals and develop a sustainable competitive advantage. The goal of this activity is to help you to recognize what mission and vision statements, and the three levels of planning, look like in action, and to see how they relate to one another in an organization. Dalton Skot is the CEO and president of a midsize fishing lure production company. The company has been very successful since its founding five years ago. Dalton has stated that his company makes professional-quality products that are accessible to the recreational angler. A recent article in a popular business magazine quoted him as saying, "The company wants to provide a chance for every person to reach his or her highest fishing potential without sacrificing their retirement savings to do it." The company has worked to keep control of the business in the family. The vice president of operations, Cooper Skot, is Dalton's brother, and the new product development manager is his sister, Sloan Skot. Dalton and Cooper have big plans to grow the company by 50 percent over the next five years. Sloan says her department plans to introduce 10 revolutionary new lures to the company's already exciting lineup of products over the next two years. Some of her special project managers have the designs complete now and are working to streamline the production tools to maximize efficiencies and thus bring costs down. It looks like the company has done some serious planning to support its "tall tale" of success. Match each term with the correct statement or level of management planning 1 Strategic Planning Operational 3 Vision Statement 4 Tactical Planning