In order to think strategically, three strategic questions are essential:
  1. Where are we now?
  2. Where do we want to go?
    • Business positions management want seen
    • Financial outcomes to achieve
    • Strategic outcomes to achieve
  3. How will we get there?

Fundamental to effective strategy development and implementation is the establishment of the organization’s vision, purpose and values. The function of the mission is to identify the vision, basic purpose and core values of the organization. The first task of strategic management begins with thinking strategically about:
          i) the firm’s future make up
          ii) forming vision of the firm in 5-10 years

The task is to:
        i) inject a sense of purpose into the firms activities
      ii) provide long term direction
      iii) Give firm strong identity
      iv) Decide who we are, what we do, and where we are headed
This is often referred to as the organization’s “mission.

Mission statement:
An organization’s mission is the organization’s purpose or fundamental reason for existence. A statement of organizational aspirations.   A mission statement is a broad declaration of the basic, unique purpose and scope of operations distinguishing the organization from others of its type. An organization mission:
        i) Reflects management’s vision of what the firm seeks to do and become
      ii) Provides clear view of what firm is tying to accomplish for its customers
      iii) In indicates intent to stake out a particular business poison.
      iv) For managers, it can be a benchmark against which to evaluate success.
        v) For employees, it defines a common purpose, nurtures organizational loyalty, and fosters a sense of community.
      vi) For external groups, it helps provide unique insight into an organization’s values and future directions.

Most missions contain three elements: