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Mission Statement Components

There are nine components which the strategist thinks are essential in mission statement. Withthese nine ingredients consider as the best mission statement.

1. Customer

Mission Statement should include answer the question Who are firm customers?

2 . P roducts and Services

What are the firms major product and services?

3 . Markets

Define the markets in which the firm competing.

4 . T echnology

Define the technology which the firm using for running their business.

5 . Concern of survival, growth and profitability

Is the firm committed to growth and financial soundness?

6 . P hilosophy

The basic, belief, values, aspiration and ethical priorities of the firm.

7 . Self concept

The firm distinctive competence or major competitive advantage.

8 . Concern of public image

Is the firm responsive to social, community and environmental concerns?

9 . Concern of employees

Are employees are valuable asset of the firm?

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I mportance of Vision & Mission

2X average return on shareholders equity

P ositive relationship to organizational performance

30% higher return on certain financial measures

U nanimity of purpose within the organization

B asis for allocating resources

E stablish organizational climate

F ocal point for direction

Translate objectives into work structure

C ost, time and performance parameters assessed and controlled

Developing a Mission Statement

C lear mission is needed before alternative strategies can be formulated and implementedImportant to have as broad range of participation as possible among managers in developing themission

Steps that could help in developing a mission statement:-

1. Select several articles about mission statements & ask all your managers to read these as background information.

2 . Ask managers to prepare mission statements for the organization

3 . A facilitator or coordinator then merge these statements into a single document &distribute this draft mission statement to all managers.

4. Modification, additions & deletions are needed next, along with a meeting to revise the

document.5. After all the managers have input into & support the final mission statement document,

organization can more easily obtain managers support for other strategy formulation,implementation, & evaluation act ivities.

6. A consultant or facilitator could be involved to manage the process smoothly & help draftthe language & finalization of the document.

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Vision, Mission & Objectives of B IZTEK

In the new millennium, the trend of global village is changing. Nations are focusing more on peaceful quality living as compared to accumulating warheads. F ew exceptions may be there, butthey are few. The power is getting transferred from G7 to E 7 (The E conomic Seven) and C hina

is leading the fast emerging economic block. At this stage, we need to ensure that P akistanmatches the present pace to be amongst rising nations of this century. We are convinced that weowe our sincerity and commitment to this nation, country and to the community we live in. Weare also convinced that once we are able to develop this, we may be able to achieve thingssurpassing all previous glories of the history. What we desperately need in this regard is the trustand confidence of concerned quarters and a willingness to become a part of a team in affairswhere worthwhile contribution can be made.