What is a mission?

MISSION STATEMENTS and STRATEGY

Simonne Vermeylen,


1. The nature of strategy

The basic questions

Strategic management resolves three basic questions:

1. What do we want?

This question refers to the steering elements of a strategy, which include: the business an organization is in, or wants to be in; the objectives; the values and norms, and the corporate culture, including procedures and systems.

2. What must we do?

Here, the organization focuses on the requirements and evolution of the environment. What are the regulatory changes affecting the company? How do consumer preferences evolve? Which threats do we have to face? How is the competition doing?


3. What can we do?

Which resources do we have and which one do we need to acquire or to develop?

There is a constant tension between the ambition, the actual and potential resources and the exigencies of the environment. An organization in its quest for superior returns, resolves this...