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46 PART 2 • STRATEGY FORMULATION

TABLE 2-2 Example Mission Statements
Fleetwood Enterprises will lead the recreational vehicle and manufactured housing industries (2, 7) in providing quality products,
with a passion for customer-driven innovation (1). We will emphasize training, embrace diversity and provide growth opportunities
for our associates and our dealers (9). We will lead our industries in the application of appropriate technologies (4). We will operate
at the highest levels of ethics and compliance with a focus on exemplary corporate governance (6). We will deliver value to our
shareholders, positive operating results and industry-leading earnings (5). (Author comment: Statement lacks two components:
Markets and Concern for Public Image)
We aspire to make PepsiCo the world’s (3) premier consumer products company, focused on convenient foods and beverages (2).
We seek to produce healthy financial rewards for investors (5) as we provide opportunities for growth and enrichment to our employ-
ees (9), our business partners and the communities (8) in which we operate. And in everything we do, we strive to act with honesty,
openness, fairness and integrity (6). (Author comment: Statement lacks three components: Customers, Technology, and Self-Concept)
We are loyal to Royal Caribbean and Celebrity and strive for continuous improvement in everything we do. We always provide
service with a friendly greeting and a smile (7). We anticipate the needs of our customers and make all efforts to exceed our
customers’ expectations (1). We take ownership of any problem that is brought to our attention. We engage in conduct that enhances
our corporate reputation and employee morale (9). We are committed to act in the highest ethical manner and respect the rights and
dignity of others (6). (Author comment: Statement lacks five components: Products/Services, Markets, Technology, Concern for
TABLE 2-2 Example Mission Statements—continued
Survival/Growth/Profits, Concern for Public Image)
Dell’s mission is to be the most successful computer company (2) in the world (3) at delivering the best customer experience in
markets we serve (1). In doing so, Dell will meet customer expectations of highest quality; leading technology (4); competitive
pricing; individual and company accountability (6); best-in-class service and support (7); flexible customization capability (7);
superior corporate citizenship (8); financial stability (5). (Author comment: Statement lacks only one component: Concern for
Employees)
Procter & Gamble will provide branded products and services of superior quality and value (7) that improve the lives of the world’s
(3) consumers. As a result, consumers (1) will reward us with industry leadership in sales, profit (5), and value creation, allowing our
people (9), our shareholders, and the communities (8) in which we live and work to prosper. (Author comment: Statement lacks three
components: Products/Services, Technology, and Philosophy)
At L’Oreal, we believe that lasting business success is built upon ethical (6) standards which guide growth and on a genuine sense
of responsibility to our employees (9), our consumers, our environment and to the communities in which we operate (8). (Author
comment: Statement lacks six components: Customers, Products/Services, Markets, Technology, Concern for
Survival/Growth/Profits, Concern for Public Image)
Note: The numbers in parentheses correspond to the nine components listed on page 51; author comment also refers to those components.

undesired and disturbing to management, it clearly indicates that both profit and vision are
needed to motivate a workforce effectively.
When employees and managers together shape or fashion the vision and mission state-
ments for a firm, the resultant documents can reflect the personal visions that managers
and employees have in their hearts and minds about their own futures. Shared vision
creates a commonality of interests that can lift workers out of the monotony of daily work
and put them into a new world of opportunity and challenge.

The Process of Developing Vision and Mission Statements
As indicated in the strategic-management model, clear vision and mission statements are
needed before alternative strategies can be formulated and implemented. As many man-
agers as possible should be involved in the process of developing these statements because
through involvement, people become committed to an organization.
A widely used approach to developing a vision and mission statement is first to select
several articles about these statements and ask all managers to read these as background
information. Then ask managers themselves to prepare a vision and mission statement for
the organization. A facilitator, or committee of top managers, should then merge these
statements into a single document and distribute the draft statements to all managers. A
request for modifications, additions, and deletions is needed next, along with a meeting to
revise the document. To the extent that all managers have input into and support the final
documents, organizations can more easily obtain managers’ support for other strategy