Mission Statements

Mission Statements

Evaluate the elements of a mission statement using appropriate evaluation tool (use the nine elements listed below taken from our textbook (Fred R. David & Forrest R. David “Strategic Management: Concepts and Cases”).

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You can list organizations across the top of the chart.

	Sony	Google	Apple	Walmart	Whole Foods	Wells Fargo
Customers	Yes	Yes	Yes	Yes	Yes	Yes
Product/Service	Yes	Yes	Yes	No	Yes	Yes
Markets	No	Yes	Yes	No	No	Yes
Technology	Yes	Yes	Yes	No	No	No
Concern for Survival, Growth, and Profitability	Yes	No	No	No	No	No
Philosophy	Yes	No	No	No	Yes	Yes
Self-Concept	Yes	No	Yes	No	Yes	Yes
Concern for Public Image	No	Yes	No	Yes	Yes	Yes
Concern for Employees	No	No	No	No	No	No

Written Assessment

Developing a good mission statement is an important part of strategic planning. The mission and vision statements help a business create, implement, and evaluate its strategy (Dermol, 2012; Sheaffer, Landau, & Drori, 2008). According to David and David (2017), there are nine main components of a good mission statement that help a business to achieve the purpose of the statement fully. This activity evaluates the mission statements of several companies to determine how effectively they meet the nine components explained by David and David (2017).

Sony is an electrical products company whose mission statement reads, “At Sony, our mission is to be a company that inspires and fulfils your curiosity. Our unlimited passion for technology, content and services, and relentless pursuit of innovation, drives us to deliver ground-breaking new excitement and entertainment in ways that only Sony can. Creating unique new cultures and experiences. Everything we do, is to move you emotionally. BE MOVED.” In its mission statement, Sony has tackled the customers, the product/service it offers, and the use of technology. The company tackles customers by stating that it would like to be a company that inspires and fulfills people’s curiosity. The company shows its enthusiasm to use technology and innovation to achieve that. The company’s mission statement also expressed its philosophy of focusing on moving people emotionally.

Google’s mission states, “Our mission is to organize the world’s information and make it universally accessible and useful.” This company chose to maintain a very brief mission statement. Although Google’s statement is short, it tackles some of the components of a good statement, as indicated by David and David (2017). The company is mentioning its main product, information, which is to be made accessible to its customers on a global market. The company’s self-concept is making information accessible and useful to the world.

Apple, a close competitor to Google, chose to write a mission that mainly focuses on its products and services. The statement states, “Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App store, and is defining the future of mobile media and computing devices with iPad.” This statement mainly focuses on the customers and the products and services. The company has also shown concern for technology and a focus on its future growth, survival, and profitability by stating its plans to define the future of mobile media and computing devices.

Walmart’s concise statement states, “to save people money so they can live better.” This testament only focuses on the customer and the company’s public image. The mission states that Walmart wants to sell cheaper products to customers to achieve better living standards for them. The company could improve to tackle more of the important components of a mission statement.

Whole Foods’ mission statement states, “Our purpose is to nourish people and the planet. We’re a purpose-driven company that aims to set the standards of excellence for food retailers. Quality is a state of mind at Whole Foods Market.” The company has shown concern for the customers as well as enhanced its public image by stating that its purpose is to nourish people and the planet. It plans to excel as a food retailer, showing concern for future growth and profitability.

Wells Fargo’s mission states, “Our enduring vision of helping customers succeed financially, which unites us as One Wells Fargo. Our five values, which articulate what’s most important to us: What’s right for customers, people as a competitive advantage, ethics, diversity and inclusion, and leadership.” This statement includes several components of a good statement. First, the company shows a concern for the customers and the services they offer by explaining its purpose to help customers succeed financially through their several financial products. The statement also shows a concern for the market by explaining their focus on building the company’s competitive advantage. Wells Fargo has also expressed its concern for positive values, showing its self-concept as a business.

References

David, F. R., & David, F. R. (2016). Strategic Management: A Competitive Advantage Approach, Concepts, and Cases. Pearson.

Dermol, V. (2012). Relationship between mission statement and company performance. Analele Ştiinţifice ale Universităţii» Alexandru Ioan Cuza «din Iaşi. Ştiinţe economice, 59(1), 325-341.

Sheaffer, Z., Landau, D., & Drori, I. (2008). Mission Statement and Performance: An Evidence of” Coming of Age.” Organization Development Journal, 26(2).

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[u02a1] Unit 02 Assignment 1

Evaluating Mission Statements

A mission statement provides direction for creating, implementing, and evaluating strategic activity. This exercise gives you practice evaluating mission statements, which in turn will help you write a good mission statement.

Create a spreadsheet with the name of the six companies listed across the top of the page and the nine essential components of a mission statement on the left. The nine elements are found on page 48, characteristics are examined in Table 2-3, and examples of the nine essential components are found in Table 2-4 of your textbook. Provide rationale or interpretation for components that are more difficult to assess.

Evaluate each mission statement with the nine criteria. Record a yes in the cell of the matrix when the mission statement meets the criteria and a no if it does not.

Complete the evaluation matrix, provide a written assessment of the various mission statement components and submit the information as an attachment in the assignment area.

Resources

• Evaluating Mission Statements Scoring Guide.

 Evaluating Mission Statements Scoring Guide

Due Date: Unit 2
Percentage of Course Grade: 5%.

CRITERIA	NON-PERFORMANCE	BASIC	PROFICIENT	DISTINGUISHED
Evaluate the elements of a mission statement using appropriate evaluation tools. 50%	Does not evaluate the elements of a mission statements using appropriate evaluation tool.	Evaluates some elements of the mission statements, but does not provide a complete evaluation with the appropriate tool.	Evaluates the elements of a mission statements using appropriate evaluation tool.	Accurately evaluates all mission statements elements using appropriate evaluation tool.
Assess the components of a mission statement using mission statement criteria. 50%	Does not assess the components of a mission statement using mission statement criteria.	Assesses some elements of the mission statement, but does not evaluate all the criteria in the mission statement.	Assesses the components of a mission statement using mission statement criteria.	Appropriately assesses all components with appropriate supporting rationale.