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PART 2
Strategy Formulation

CHAPTER 2

The Business Vision

and Mission

CHAPTER OBJECTIVES

After studying this chapter, you should be able to do the following:

1. Describe the nature and role of vision 4. Discuss how clear vision and
and mission statements in strategic mission statements can benefit other
management. strategic-management activities.

2. Discuss why the process of developing a 5. Evaluate mission statements of
mission statement is as important as the different organizations.
resulting document.
6. Write good vision and mission
3. Identify the components of mission statements.
statements.

Assurance of Assurance of Assurance of Assurance of
Learning Exercise 2A Learning Exercise 2B Learning Exercise 2C Learning Exercise 2D
Evaluating Mission Writing a Vision and Mission Writing a Vision and Mission Conducting Mission
Statements Statement for McDonald’s Statement for My University Statement Research