Mission And Vision Vs Strategic Management

This strategic management class is often called a “capstone course” because the course brings together all of the previous business classes into one final application. Strategic management according to David and David (2017), enables an organization to reach its objectives through formulating, implementing, and also evaluating organizational decisions (David & David, 2017 pg. 5). In order to strategically plan for a company and make organizational decisions, a person would need to understand every aspect of an organization and how each function relates to another. The strategic management class is the capstone because a student needs to understand the business acumen gained from all other business classes, in order to do well in strategic planning.

In many cases, the Mission and Vision are considered the same thing within organizations but they are not entirely the same and have many varying aspects. Although these companies are using the example of mission and vision statements as the two should not be confused in terms of definition. The difference is that Mission is more geared toward what is happening or the state of the business in the current state opposed to the vision statement. A mission statement is a constant reminder to its employees of why the organization exists and what the founders envisioned when they put their fame and fortune at risk to breathe life into their dreams. Which would be the direction the company wants to pursue in the future. The mission statement simply answers the question, “What is our business?” The vision statement answers the questions? “What do we want to become? The vision statement clearly provides a true definition of what the goals are of the organization. Providing a direction for the company will give the leadership team something to build on while providing an understanding of the company and where it should be from all levels and aspects of the business world. Without having a defined path, business leaders and associates lack the understanding of what direction to lead or follow. A vision statement should be established before the mission statement and should be kept

Majority of the founders of these organizations are individual who have been directly affected by the cause of the organization and most of the time driven by the compassion. This should be referenced and reflected upon in the mission statement of a non-profit organization. The nature of a business vision and mission can represent either a competitive advantage or disadvantage for the organization (David & David, 2017 pg. 53). The mission statement of a non-profit should influence the culture, type of decisions, and type of donors that the organization attracts. A mission statement from a nonprofit organization would contains more details on financial accountability (David & David, 2017 pg. 53). A good mission statement reveals an organization’s customers; products or services; markets; technology; concern for survival, growth, and profitability; philosophy; self-concept; concern for public image; and concern for employees. The mission statements effectiveness, that for-profit organizations typically include “the company philosophy and values, company purpose and self-concept, and certain interest groups (e.g., customers, society) relates positively to desired