Flashcards on Understanding Business Vision and Mission Statements
Understanding Business Vision and Mission Statements: A Guide
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Mission and Vision Statements — Concepts
42 cards
Card 1
Question: What question should a vision statement answer?
Answer: “What do we want to become?”
Card 2
Question: Why is it important for managers and executives to agree on a firm's vision?
Answer: Agreement provides a foundation for a comprehensive mission statement and aligns long-term aspirations across the organization.
Card 3
Question: How long and who should contribute to a vision statement?
Answer: Preferably one sentence, and as many managers as possible should have input.
Card 4
Question: From which perspective should vision statements be written?
Answer: They should be written from a customer perspective.
Card 5
Question: Why is profit alone insufficient as a motivator for employees and managers?
Answer: Profit alone doesn't motivate people as well as shared vision and mission, which reflect personal aspirations and create common interests.
Card 6
Question: How does a shared vision affect employees' experience of work?
Answer: Shared vision can lift workers out of monotony and create new opportunities and challenges by aligning personal and organizational goals.
Card 7
Question: What should a vision statement do besides identify the product or service a firm offers?
Answer: It should do more than identify the product/service; it should express the firm's desired future state and be customer-focused.
Card 8
Question: Give Tesla’s vision statement as an example.
Answer: “To accelerate the world’s transition to sustainable energy.”
Card 9
Question: What aspect of Tesla’s vision statement makes it effective according to the text?
Answer: Its concise language and use of “accelerate” enliven the aspiration and showcase drive toward sustainable energy.
Card 10
Question: Give Nike’s vision statement as an example.
Answer: “Bring inspiration and innovation to every athlete in the world.”