- The primary objective is to enable the students to understand the importance of mission statement in business.
- Students are expected to develop a mission statement by understanding the characteristics and components of a good mission statement.
Instructions to attempt the GDB:
- Attempt the GDB by yourself, it will be entertained positively.
- Copying from any material will be marked zero.
- Solution should be very concise and brief.
- Irrelevant information should not be provided.
Bismillah sweets & bakers is one of the sweet shops inside the historic walled city of Lahore, Pakistan. Mr. Aslam Ahmed laid down the foundations of Bismillah Sweets in 1990 with a small shop. He has brought an outstanding taste in sweets, bakery items which was praised by local citizens. Today, Bismillah Sweets is being led under the leadership of Mr. Shahzad Ahmed and Mr. Nadeem Ahmed and has expanded to more than 15 branches in Lahore. The current leadership of Bismillah Sweets is adding up new products day by day to increase the range of choices for its new and old customers. As a result, it is now known as the ‘taste developing masters’ in the local region and got its repute as the ‘distinctive traditional taste makers’. They are striving hard to keep this image intact by meeting the expectations of their customers. They have survived well in the competitive market of Lahore because they have never compromised on the quality of their products.
Although Bismillah Sweats has a big name in the market but its products are not as appealing as its competitors like Nirala Sweets, Gourmet Pakistan and Fazal Sweets. They are somewhere implementing poor or bad strategic management. They do not have a proper mission and vision statements. As mission statement plays a very important role in distinguishing one’s business from other similar firms. It clearly demonstrates about the business and also clearly describes about the core values and priorities of an organization. It also communicates employees that what the founders envisioned about the future direction of business.
Mission statements can and do vary in length, content, format, and specificity. Most practitioners and academicians of strategic management feel that an effective statement should include nine components. Because a mission statement is often the most visible and public part of the strategic-management process, it is important that it includes the nine characteristics such as broad in scope, less than 250 words in length, inspiring, identify the utility of a firm’s products, reveal that the firm is socially responsible, reveal that the firm is environmentally responsible, reconciliatory, enduring and include nine components (customers, products or services, markets, technology, concern for survival/growth/ profits, philosophy, self-concept, concern for public image, concern for employees).
You are required to develop a mission statement for “Bismillah sweets & bakers” by following the 9 characteristics and components. However, you may include 5 out of 9 components.
- You are advised to watch the video Lectures # 5 & 6. Go to http://ocw.vu.edu.pk/Videos.aspx?cat=Management&course=MGT603
- Strategic Management (Concepts & Cases) by Fred R. David 13th Edition.
- The process of developing vision and mission statements (pg # 46).
- Importance (benefits) of mission and vision statements (pg # 47).
- Characteristics of a Mission Statement (pg # 49).
- Mission statement components (pg # 51).