Large and small businesses develop mission statements to explain their purposes.
ID: 374462 • Letter: L
Question
Large and small businesses develop mission statements to explain their purposes. Some statements are excellent; others, less so.
Your Task Analyze the following selection of Fortune 500 company descriptions and mission statements. In a class discussion or an e-mail to your instructor, (a) list four goals of mission statements (see Figure 13.3), (b) list five questions to be answered in preparing mission statements, (c) explain which of the following statements fulfill the goals of winning mission statements discussed in Figure 13.3, and (d) tell how the following statements could be improved.
Figure 13.3
Company Mission Statement 1. AGCO manufactures and distributes Profitable growth through superior customer service, innovation, quality and commitment. agricultural equipment such as replacement parts, tractors, hay tools, and implements. To be the leader in every market we serve, to the benefit of our customers and our shareholders 2. Dover Corporation manufactures equipment such as garbage trucks and electronic equipment such as ink-jet printers and circuit board assemblies. 3. Eaton Corporation supplies parts for We are committed to attracting. fluid power, electrical systems, automobiles, and trucks developing, and keeping a diverse workforce that reflects the nature of our global business 4. Graybar Electric Company acquires, We are a vital link in the supply chain, stores, and distributes electrical, data, and communication components such as wire, cable, and lighting products. adding value with efficient and cost effective service and solutions for our customers and our suppliers. 5. Harley-Davidson, Inc., manufacturesWeffll dreams through the motorcycles with over 32 models of experience of motorcycling, by touring and custom Harleys plus motorcycle accessories, motorcycle clothing apparel, and engines. providing to motorcyclists and to the general public an expanding line of motorcycles and branded products and services in selected market segments Operating a safe and secure government. 6. IBM provides computer hardware such as mainframes, servers, storage systems, printing systems, and semiconductors, as well as software related to business integration, networking, operating systems, systems management, and so forth.Explanation / Answer
1.The four goals of mission statements are
A.A mission statement should talk about the scope and objectives of an organization.
B.It should be prepared in such a manner that it should be simple clear and understandable.
C.It should be unique in its deceleration,preparation and presentation.
D.It is a shortened form of communication to the employees, customers and stake holders and each and every participant of the organization.
2.5 questions to be answered while preparing the mission statement are
A.What values are we trying to communicate to the beholder.
B.Have we included goals ,objectives and values.
C.What are we doing through the business- atleast a hint of products and services.
D.What image are we portraying to the public through our sayings.
E.Who is our target customer and what makes our product unique.
3.The statement which includes among the given statement which includes all the aspects needed in a mission statement is the mission of Harley Davidson which gives a clear picturisation of their product to the customers.They talk about fulfilling their objective through satisfying the dreams of the customers by providing quality made motorcycles. They also talk about their product ,service and quality.They also reach the target customers through their statement.
4.The other mission statements are still good enough to compete but include certain aspects like the target customers, services and products and the method through which they are going to obtain their goal.
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