WA4
Why do companies need a mission or a vision?
A mission/ vision is like an overarching goal which incorporates their values and beliefs as well.
Therefore, if a company has a vision they will be able to target their actions to meet said vision and be
more effective and productive in doing so.
Why do we care about an organization’s values?
An organization’s values show us their goals and mission and what steps they are taking towards their
mission. therefore, management can shift their strategy and their system to align with their mission or
vision statement. As a job candite ( I am not sure what we was referring to) if there is a mission stamen
or values that I align towards more I am more likely to pay interest towards that company, conversely
the same thing is also true.
Values- As stated previously things that people hold in importance and things that define people ( how
the interact, how they speak, how they behave etc.)
Values Statement- states the organization’s values that might not be evident in the mission or vision
statements.
Mission Statement- communicates the organization’s reason for being, and how it plans to serve its key
stakeholders.
Vision Statement- a future-oriented declaration of the organization’s purpose and aspirations
Organizing- the function of management that involves developing an organizational structure and
allocating human resources to ensure the accomplishment of objectives.
Organizational Design- a formal, guided process for integrating the people, information, and technology
of an organization.
Organizational Culture- the workplace environment formulated from the interaction of the employees in
the workplace.
Leading- influencing others toward the attainment of organizational objectives.
Controlling- ensuring that performance does not deviate from standards.
SHRM- aims to integrate the organization’s human capital its people into the mission and vision.
What is the difference between 4.1 and 4.2 mission and vision statements?
The mission statements explain the purpose and/ goal of the company and how they will benefit
stakeholders. The vision statements however were a simple proclamation of their future selves kind of
like a “ where do you see yourselves in 10 years” but for the company.
What did I learn about organizations?
I learned about their mission and goals and their aim to be in the future though the majority were
looking to be the best in the world of their field.
Do you agree or disagree? Why?
I agree because your mission statement is supposed to be a specific statement of your values and goals.
A statement like Exxon Mobile doesn’t do this at all. I feel like a mission statement should be personal to
the person who started/ owns the business and projecting their goals out to the world through this
mission statement?
Does creativity have a purpose?
Yes because creativity can be crucial to innovation. For example, the website Etsy where you can start
your own online business is reliant on your creativity to sell your project.
What is the purpose?
To diversify your purpose of work and to come up with more imaginative solutions to current problems
that may be needed.
What can managers do to ensure this purpose is met?
Using the 4 types of creativity managers can ensure flexibility and differentiation in the workplace to
find different ways to keep clients satisfied and stakeholders assuaged.
SCAMPER- My university will be combined with a office building so students can get experience .
Stakeholders-individuals or groups who have an interest in an organization’s goods and services.
Internal- members of management, marketing etc. who are employees in the company
External- Stakeholders who are not directly involved with production such as stockholders.
Stakeholder Analysis - the range of techniques or tools used to identify and understand the needs and
expectations of major interests inside and outside the organization environment.
Step 1- identifying organizational, capital market and product market stakeholders
Step2- Determine most important stakeholders based on how the firm’s strategy affects stakeholders.
Step3- to determine the degree to which a stakeholder group can exercise power and influence over the
decisions the firm makes
Why is it important to consider all stakeholders and not only stockholders?
Because internal employees have an effect on production of the products and can exercise more power
and influence over the company.
Mission Statement – My name is Sneha Balaji. As of current I am getting my bachelor’s degree in
healthcare administration from UHCL. In the future I wish to work with those I need of help and medical
assistance helping them to find cheaper more reliable forms of healthcare and to work in management
that can effectively strategize and think their way around problems and find answers to current
solutions.
I used to think that companies did thing autonomously without a plan Now I now that vision statements
are a plan for the future which companies use to embrace further growth.
Values are shared principles, standards and goals
