This exercise gives you the opportunity to study the nature and role of vision and mission statements in strategic management.

Instructions

Step 1 Call various organizations in your city or county to identify firms that have developed a formal vision and/or mission statement. Contact nonprofit organizations and government agencies in addition to small and large businesses. Ask to speak with the director, owner, or chief executive officer of each organization. Explain that you are studying vision and mission statements in class and are conducting research as part of a class activity.

Step 2 Ask several executives the following four questions, and record their answers.

1. When did your organization first develop its vision and/or mission statement? Who was primarily responsible for its development?

2. How long have your current statements existed? When were they last modified? Why were they modified at that time?

3. By what process are your firm’s vision and mission statements altered?

4. How are your vision and mission statements used in the firm?

Step 3 Provide an overview of your findings to the class.