...Abstract Mission statements and organizational goals have evolved dramatically over the past twenty years. Once a mission statement was a simple statement that conveyed why the organization existed. Now, that same statement may include information about supporting sustainability and corporate responsibility. This document will look at trends within mission statements and goals. Organizational Goals According to dictionary.com, a goal is defined as the result or achievement toward which the effort is directed. For each goal that an organization sets, it also sets objectives. Objectives are short-term targets with measurable results. Without clearly-defined goals and objectives, organizations will have trouble coordinating activities and forecasting future events (Marler, 2013). Virtually every business has a goal or goals that they want to accomplish. Most start with mission statements that tell us why the organization exists and state goals on what they hope to achieve. One of the most comprehensive mission statements that review their goals in terms of leadership, quality and value, profits, ethics, and social responsibility is Caterpillar (King, Case, and Premo, 2010). Caterpillar Caterpillar will be the leader in providing the best value in machines, engines, and support services for customers dedicated to building the world’s infrastructure and developing and transporting its resources. We provide the best value to customers. Caterpillar people will increase...
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...Conceptualizing a Business Tammie Dillard BUS/475 Aug. 29, 2011 Matt Nosbisch Introduction In present scenario, strategic direction plays a vital role in the overall success or failure of a business organization (Joyce & Woods, 2001). Key strategic elements guide the strategic direction of the organization. Alignment between strategic direction and business activities is essential to ensure the attainment of vision and mission. The selected company is beauty line organization to develop a strategic plan. It will cover vision, mission and guiding principles. Mission Statement A mission is the strategic direction that guides the organization to attain its business goals. To nourish and glow the skin of people will be the mission of beauty line business. To attain the mission, the organization will cover offer different beauty care products to the people. A wide range of beauty care products is offered that covers cosmetics, small instruments to improve beauty and beauty soaps (Joyce & Woods, 2001). Products are developed with a differentiated approach. It assists the company to develop competitive advantage in the respective industry. Vision Statement Vision is what the company wants to attain in its coming years. To become a market leader through differentiation will be the vision of the beauty line organization. To accomplish the vision, product differentiation will be used. An innovative thinking will be followed to ensure creativity in the beauty...
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...Ashley Perez Keith Miller Ricky Griffin Abstract This paper will review Staples, Inc. comprehensively. The authors will discuss Staples’ visions, missions, and objectives, in addition to outlining the firm’s internal strengths and weaknesses and their external opportunities and threats. Several matrices will be included to provide visual aid and better observations of the operations and current practices of the company. Recommendations will be provided on new courses of action that may benefit the company and help increase sales and brand awareness. Vision and Mission Staples, is the world’s largest office product organization, and a reliable source for office solutions. The company products and services include office supplies, copy and print supplies, and technology to support these products. Staples, also provides supplies for facilities, break-room, and furniture (Staples, Inc, 2012). Staples conceptualized the office superstore in 1986. It has more than 88,000 associates worldwide, in 26 countries, and fosters annual sales of 25 billion (Staples, Inc, 2012). Many organizations foundations began with a vision and an organizational mission. The vision and mission are set to be accomplished by setting objectives, and implementing strategies to achieve the goals set by the organization. According to Business Improvement Architects: Creating a compelling vision and developing the strategies to achieve it is one of the organization's most difficult challenges...
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...Kodak and Fuji Film Running head: KODK and FUJI FILM 1 Kodak and Fuji Film BUS 302 February 2, 2013 Running head: KODAK and FUJIFILM 2 ABSTRACT Eastman Kodak Company and Fujifilm are competing corporations in the photography supply and equipment industry. When the industry changed both companies were impacted, but due to differing management practices and ability to adapt to change one Fujifilm excelled while Kodak faltered and eventually declared Chapter 11 Bankruptcy in 2012 Running head: KODAK and FUJIFILM 3 The Eastman Kodak Company, which is better known as Kodak was established in April 1880 by George Eastman in Rochester NY. The company got its start by first manufacturing dry plates for sale to various consumers. (Kodak Eastman, 2013). George Eastman was an innovator in the field of photography and was dedicated to making photography an everyday affair and was even quoted to say that he wanted to make the camera as convenient as the pencil, (Kodak Eastman, 2013) In September 2012 Kodak reorganized into three segments: Digital Printing and Enterprise (DP&E); Graphics, Entertainment, and Commercial Films (GECF); and Personalized Imaging and Document Imaging (to be sold), (Finance, 2013). Kodak has effectively ceased production of its Kodachrome color film line, digital cameras and pocket video cameras. This follows a decision in early 2012 to file Chapter 11 bankruptcy. Fuji Photo Film Co., Ltd (Fujifilm) is a Japanese based company and was established...
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...Mission and Vision Statement of J.C. Penney Brooke Hall BMGT 495 Strategic Management Professor Swindell November 1, 2013 Table of Contents Introduction 3 Mission Statement 3 Vision Statement 4 JCP’s Strengths 5 JCP’s Challenges 5 Future Goals and Objectives 6 Recommendations 7 References: 8 Introduction Founded in 1902, by James Cash Penney in Kemmerer, Wyoming, JCP has witnessed dramatic changes and overhauls with the arrival of each CEO. Beginning in 2013, JCP again started fresh with the rehiring of retired CEO Myron Ullman who has taken revolutionary steps to improve the company’s performance and pricing structure (Berfield, 2013). Under the leadership of Ullman, JCP is working to rid itself of its former image of inadequate products, at least one price promotion per day, and high employee turnover, and instead focusing on fair pricing for all, interest based marketing, and spotlighting their exclusive brands in comparison to their competitors. Mission Statement According to Daft (2011), having a clear mission and vision for the future as well as a strategy for implementation are key components of accomplishing any goals within an organization. JCP’s mission is simple and straight to the point, “To drive Sales and Profit growth by ensuring our Customer and Associates always know they’re first in our Stores by what We do!” (JCPJline, 2011). As noted in our text, a mission statement serves as both a description of a company’s purpose, while simultaneously...
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...positive impact on consumers is crucial to the overall success of the product. This report will discuss two campaigns: Dove’s Campaign for Real Beauty that target women’s outer beauty, instilling self-confidence, versus AXE’s AXE Effect campaign that target young adult males while exploiting young adult women’s perception of beauty unrealistically. Dove and AXE products are owned by the same company Unilever. The report will analyze their complete opposite approach to their target market, and criticisms received from the media and consumers. The report will also offer recommendations to marketers that may lead to having a successful advertising campaign. FINDINGS Findings were made in the following areas: target market and criticisms. Target Market Dove products target women of all ethnicities, age, shape and size in hopes to define the true definition of beauty. Since 2004, Dove has used Campaign for Real Beauty ads along with the vision to “Imagine a World Where Beauty is a Source of Confidence not anxiety” (2014). Dove’s ad campaigns feature real women whose appearances are not the typical norm of how society defines beauty. These real women shown in their underwear are essentially making a statement of how society should perceive real beauty. Figure 1. Dove Real Beauty Campaign (Canada, 2013) AXE products target white males, 18-24, giving the notion that using their products will keep men at their best and get them the girl or girls. That is, the type of girls...
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...Running head: KODK and FUJI FILM 1 Kodak and Fuji Film BUS 302 February 2, 2013 Running head: KODAK and FUJIFILM 2 ABSTRACT Eastman Kodak Company and Fujifilm are competing corporations in the photography supply and equipment industry. When the industry changed both companies were impacted, but due to differing management practices and ability to adapt to change one Fujifilm excelled while Kodak faltered and eventually declared Chapter 11 Bankruptcy in 2012 Running head: KODAK and FUJIFILM 3 The Eastman Kodak Company, which is better known as Kodak was established in April 1880 by George Eastman in Rochester NY. The company got its start by first manufacturing dry plates for sale to various consumers. (Kodak Eastman, 2013). George Eastman was an innovator in the field of photography and was dedicated to making photography an everyday affair and was even quoted to say that he wanted to make the camera as convenient as the pencil, (Kodak Eastman, 2013) In September 2012 Kodak reorganized into three segments: Digital Printing and Enterprise (DP&E); Graphics, Entertainment, and Commercial Films (GECF); and Personalized Imaging and Document Imaging...
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...ENRON: A CASE STUDY Q.1) Give the definition of earnings management. Discuss in what instances is earnings management acceptable and in what instances is it not acceptable? Earnings management is the process by which management can potentially manipulate the financial statements to represent what they wish to have happened during the period rather than what actually happened. Reasons why management may want to manage earnings include both internal and external pressures. Perhaps the most important section of this chapter is that of dealing with the common techniques used to manage earnings. It is through a thorough understanding of these methods that earnings management can be spotted. These strategies are important to know as an accountant, auditor, financial analyst, creditor, or investor. Healthy scepticism on the part of these various interests, and contributors, to the financial statements will further detection, and a reduction, of earnings management practices. By improving the quality of the information in financial statements, through better accounting standards and ethical behaviour, the cost of doing business decreases. Not only is this true with the cost of capital, as the chapter describes, but nowhere is it more clearly seen today than with the additional costs publicly traded companies are now faced with to come into compliance with the provisions of the Sarbanes-Oxley Act. Earnings management and unethical behaviour of the past is costing businesses more today...
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...MISSION STATEMENTS OF SOCIALLY RESPONSIBLE FIRMS: A CONTENT ANALYSIS Refika BAKO LU Marmara University, Turkey Bige A KUN Marmara University, Turkey ABSTRACT A well-designed mission statement is essential for formulating, implementing and evaluating business strategy. However the role of the mission statement in the strategic management of business firms has not been sufficiently highlighted in the research literature. The importance of mission statements to the effective strategic management of business organizations is well documented in the literature but it is quite surprising that minimal attention has been paid to the role of mission statements of socially responsible organizations. This paper attempts to fill this gap in the literature. It focuses on the socially responsible firms, which are listed in the Business Ethics' 100 Best Corporate Citizens Index, by selecting the firms whose mission statements could be seen clearly from their corporate websites. The mission statements are then analyzed to determine their components and the differences between the firms. Keywords: Mission Statement, social responsibility, content analysis It becomes apparent when appraising the some definitions of the mission concept is regarded as multidimensional concept by virtually all authors. Further, variations in conceptualization and the specific words used notwithstanding, it is possible to identify common elements that underlie most definitions of the concept. In contemporary...
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... Instructor April 22, 2011 Business planning requires strategic planning that will help the organization become successful. Strategic elements map out the direction of business planning mode (Pearce & Robinson 2009). An alignment between strategic direction and business activities are determining factors of a business organization success or failure. I have selected a Christian Internet/Cafe organization to develop as a strategic plan. This plan will include my mission and vision guiding principles. Mission Statement The goal in a mission statement is define the strategic planning of a company. The company mission statement describes “the company’s product, market, and technological areas of emphasis in a way that reflects the values and priorities of the strategic decision maker (Pearce & Robinson, 2009 p. 12). The mission statement says who we are and what we do. In the Christian Internet/Café organization the mission is to have customers of all ages enjoy coffee, food and purchase religious supplies and books and share the internet experience in a comfortable environment. The organization will be a place that is unique, upscale, and customers can be a part of innovative experience. Vision Statement The vision statement for my business is to become a market leader through differentiation of the internet/café. The aspiration is to have my organization become a one-stop-shop of business for the Christian community to receive...
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...1 Student: ____________________________________________________________ ___________________________ 1. Which of the following does not represent a main focus of cost management information? A. B. C. D. E. Strategic management. Performance measurement. Planning and decision making. Preparation of financial statements. Internal auditing and control. 2. Strategic management can be defined as the development of a sustainable: A. B. C. D. E. Chain of command. Competitive position. Cash flow. Business entity. Company image. 3. Cost management has moved from a traditional role of product costing and operational control to a broader strategic focus, which places an emphasis on: A. B. C. D. E. Competitive pricing. Domestic marketing. Short-term thinking. Strategic thinking. Independent judgment. 4. All of the following are examples of total quality management practices except: A. B. C. D. E. Redesign of a product to reduce its parts by 50 percent. Reduction in the movement required in a manufacturing job. Separating the sales and services functions. Raising raw material quality standards. Cross-training assembly line workers to cover sick leave absences. 5. In a local factory, employees are rewarded for finding new and better ways of changing the way they work. This company is motivating its employees to use what management technique? A. B. C. D. E. Benchmarking. Activity-Based Costing. Theory of Constraints. Continuous Improvement. Total Quality Management. 6. A...
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...Business Administration Business Participants: Owners, Employees, Customers Functional Areas of Business Management Operations Marketing Accounting Finance Management- planning, organizing, staffing, directing, and controlling a company’s resources so it can achieve its goals Operations- converts resources into goods or services to ensure products are high quality Marketing- everything that a company does to identify customers’ needs and design products to meet those needs Accounting- measures, summarizes, and communicates financial and managerial information and advise other managers on financial matters Fields of Accounting Financial Accountants -Prepare financial statements -Assess financial strength Managerial Accountants- Prepare internal reports Finance- planning for, obtaining, and managing a company’s funds Economics- study of the production, distribution, and consumption of goods and services Economists’ Questions What goods & services should be produced? How should goods & services be produced? Who receives the goods & services produced? Mix Market Economy- a mixed market economy relies on both markets and the government to allocate resources Privatization- converting previously government-owned businesses to private ownership Gross Domestic Product- market value of all goods and services produced by economy in a given year includes only goods and services produced domestically ...
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...creating a mission statement for fictitious company ToolsCorp Corporation and writes the company’s mission statement is using the nine essential components framework. This report focuses on the principles and tools needed to implement and evaluate the effectiveness of the strategic objective process. Lastly, this report considers any legal and ethical issues. Unit 1 Individual Project The following discusses the process of creating a mission statement for fictitious company ToolsCorp Corporation and writes the company’s mission statement is using the nine essential components framework. This report focuses on the principles and tools needed to implement and evaluate the effectiveness of the strategic objective process. Lastly, this report considers any legal and ethical issues. Launching a new business rests on a vision, or a set of beliefs, that the business can offer a product or service to consumers in a specific at a profitable price (David, 2013, p. 44). As a business grows, it is necessary for owners or managers to revise the company vision and mission. The original ideas are typically exhibited in the revised vision and mission. ToolCorp Corporation, located in Tennessee, produces power tools, lawn equipment such as mowers and furniture, as well as microwave and range appliances. This company has a booming business in the United States and Canada, but its current strategic initiative is to enter the global marketplace. Vision and mission statements A clear...
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...benefit. Forecasting is a vigorous purpose of operating an effective company that coincides with a company’s mission, vision, and values. Of these components expose the objectives, long-term goals, and reasoning for its activities. These components create the framework that plans the path of the businesses future. The following information will provide points by constructing a vision, mission, and values for Speedway LLC organization. Vision Speedway LLC is to become the customers’ first choice for value and convenience. This company strives to produce a welcoming atmosphere with the intent of providing the best service and products for the customers. The fundamentals of this vision are to accomplish tasks for a long-term framework with the goal of accumulating shareholder significance and to give back to the community. Mission Speedway LLC focus is to indulge customers. Their mission is to provide transportation fuels and convenience store merchandise to the motoring public. Speedway caters to customers’ needs by presenting products at reasonable prices. Speedway seeks to produce a welcoming environment, which make the consumers daily lives a focus. Achieving this task is by employing educated personnel committed to understanding our customers to meet their needs. Values As Speedway pursues to become the best convenience store, increase business, and acquire longevity, the realization of these values is essential in implementing these goals. Our main values...
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...Case Study for Student Analysis This case study is to find out the issues in which Mr. Robins has and to concentrate on a solution. I will explain a few matters, which will provide the reader a better knowledge of every perception. The overall scope of this paper is to share the outcomes of my findings, in a manner in which I would tackle the issue. I will also attempt to explain a good solution with identifying the types of problem activities, responses and solution. Among the main factors involved in carrying out his job, Mr. Robin has many responsibilities. It seems that he performed well in hiring fifteen new employees within six months on the job. However with his lack of job experience, he required to have a well-developed, plotted-out plan of action. Obviously, his placement is new; nevertheless, Mr. Robins, rapidly found out that he has some important problems in assigning his own duties, which are crucial requirements to his job responsibilities. Mr. Robins might have averted a few issues. 1. As, Mr. Robin is a person of his word, it is important to one’s personality, work ethics as well as moral integrity. 2. Mr. Robins underestimates his overall mission and objectives. With having almost three months to plan and arrange, he must have made certain, that the meeting room for orientation training, was available prior to the planned date. 3. With certainty, ABC Inc.’s...
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