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MGT603 - Strategic Management Assignment No.01 Problems Discussion and Solution Fall 2013 Due Date 03 May 2013

STRATEGIC MANAGEMENT (MGT603)
ASSIGNMENT NO. 01
DUE DATE: MAY 2ND, 2013 MARKS: 20
ASSIGNMENT:
Learning objectives
· Difference between mission and vision.
Learning outcomes
After this assignment, student will find it an ease to:
· Understand mission statement and vision statement, their difference and application.
Background
Mission statement relates to present situation of an organization and defines purpose of
organization existence. Mission also means what we are and what we want to do. Mission
can be narrow or broad. Narrow mission statement shows that which products and services
are offered, which technology is used etc. Broad mission statement wider mission values in
terms of product and services, technologies etc. Vision statement relates to future of an
organization, it includes strategic planning for future and organization s’ inspiration. Vision
describes these questions, “where we want to be in future?” and “where we want to go?”
Scenario
Ms Nazia opened a boutique named as “En”, in 1999 in Lahore. This boutique became
highly popular in 2000. Nowadays “En” boutique has a number of outlets in the major cities
of Pakistan i.e. Islamabad, Karachi, Peshawar, Rawalpindi. Initially, the store offered
stylish eastern clothing but recently, on high public demand, western apparel has also been
introduced which is widely admired by ladies of almost all ages. Her customers are mostly
young and middle-aged ladies who are both professionals and non-professionals, but style
conscious and price sensitive.
Similarly, she hopes to grow her boutique into a complete fashion store, offering items to
go with her clothes, such as bags, shoes & jewelry.
Now, Ms Nazia wants to launch her flagship store internationally e.g. UK, but she would
like to revise the mission and vision statement of her store to appeal to the highly
competitive international market.
Requirement
You are required to suggest a suitable mission and a vision statement ( refer to the
‘Background’ section of this assignment about mission and vision statement ) that would be
most appropriate keeping mind Ms Nazia’s plans for her boutique in the international
market. You MUST provide three valid reasons to explain HOW this statement would be
most appropriate for “En” to be successful internationally? You may use the table given
under ‘Sample Solution’.
NOTE: Please refer to the ‘Solution Guidelines’ given below before attempting this
assignment.
Sample Solution
HOW this statement would be most appropriate for “En” to be
successful internationally?
Suggest the
Mission Statement
of “En”
Suggest the Vision
Statement of “En”

Spring%202013_MGT603_1.pdf

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“Mission” and “vision:” explore the difference

Sometimes understanding the difference between a mission and a vision is confusing. Are they really different? If so, is there an easy way to differentiate between the two? Let’s try.

Mission is about purpose. Think about the reason someone goes on a mission. A mission answers the question, “What do we do?” A non-profit organization may have a mission to eradicate malaria throughout the world; a soldier may go on a mission to protect a city from an invading army; a high school senior may go a on a mission to purchase a dress or buy a shirt for the prom.

Therefore, the mission or purpose statement for each of the above situations would be:

  • Non-profit organization: To eradicate malaria throughout the world
  • Soldier: To protect a city from invaders
  • High school senior: To purchase prom attire

On the other hand, visionis about future. It expands the purpose, eliciting aspirations, hopes and dreams. A vision answers the question, “If wildly successful, what is the overall result of our mission?”

Vision statements for the above examples might be:

  • Non-profit organization: Malaria no longer exists in the world
  • Soldier: A city that can stand alone against invaders
  • High school senior: Star appeal and complete confidence at the prom

There is a difference between mission and vision statements. Mission is about purpose – what do we do? Vision is about the future – what is the overall result of our mission? Simple as that!

 

 

Vision Statement

A vision statement is a short phrase detailing what a company wants to become in the future – it needs to be inspirational, inspirational and energizing. It should only be a sentence in length and must capture the essence of a company’s goal, but does not explain how you are going to achieve those goals. In essence, it needs to be visionary.

Mission Statement

A mission statement clarifies an organizations’ purpose and typically, needs to be about one paragraph in length. It should be unambiguous and to the point, integrating meaningful statements, such as: moral stance, how you want to be perceived, primary focus, your customers, who you care about, your presence and how you will grow.

google pa ya search kro koi na koi idea mil jay ga fashion boutique mission statements and vision

 gud idea faheen 

requirement goor sy read kroo sab.... just reason batani hy 2 ki.... wo b 3 3 ..... explain kuch ni krna...

You MUST provide three valid reasons to explain HOW this statement would be most appropriate for “En” to be successful internationally?

hmain kia proper mission or vision statement bana kr then uss k reasons dena hain ya just hmain vision or mission k bare main suggestions dene k bad reasons btana hain??? can somebody guide me ?? 

I think 3 mission batanay hein point may then unko define b kerna hai k ya jo point hein kesy link hein mission k sat and then jo new point honge 3 vision k unko link kerna hai Mission k point k sat... 

Yahan may ik example dey raha hoon kuch asy hoge humari assignmnt...................

Mission Statement:-

The mission of the Toyota Motors Corporation is to make maximum long-term profits for its stockholders and be a good corporate citizen.


Vision Statement:-

To become the most successful and respected car company in each market around the world by offering customers the best purchasing and ownership experience..........

hmmm...thanks :)

Instructor's Reply:
Dear student

Thankyou for taking interest in the course

The assignment clearly states that you must provide 3 valid reasons for mission statement and 3 reasons for vision statement. 

Feel free to post lecture-related questions on MDB

Best Regards,
Instructor (MGT603)
Instructor's Reply:
Dear student

Thankyou for taking interest in the course

The assignment clearly states that you must provide 3 valid reasons for mission statement and 3 reasons for vision statement. 

Feel free to post lecture-related questions on MDB

Best Regards,
Instructor (MGT603)

Mgt 603 idea solution

'Mission Statement
En mission is something we take very seriously. It guides us in every decision we make and every business dealing in which we engage. Living by these priciples daily has been a major contributor to our past successes, and is the key to our success in the future. Although every employee is expected to follow these principles, we know that no one is perfect. If we fall short, it is our goal to pick ourselves up and redouble our efforts to be the best we can be.
• To provide our customers with quality Dress and services at competetive prices
• To be friendly, honest, courteous and fair in our dealings with others
• To deliver on our promises and demonstrate commitment and diligence
• To be responsive and display a sense of urgency for the

Our Vision:
To become the leading brand in providing stylish and unique women clothing, jewelry, and accessories at affordable prices and to become a international brand

kuch b samj ni aa raha k kya kiya jaye or kya likha jaye

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