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1. Copyright 2005 Prentice Hall 1 BUS 411 Day 3
2. Copyright 2005 Prentice Hall Ch 2 -2 Agenda Assignment # 1 die next class
Discussion of Krispy Kreme Cohesion Case
Discussion on Business Mission and Vision
3. Copyright 2005 Prentice Hall Ch 2 -3 Krispy Kreme Key issues
Finances
Market place
Strategic planning
Mission & vision
SWOT
What should they do.
Resources
http://www.krispykreme.com/
http://www.umfk.maine.edu/infoserv/library/
4. Copyright 2005 Prentice Hall Ch 2 -4 Chapter 2The Business Vision & Mission
Strategic Management: Concepts & Cases
10th Edition
Fred DavidPowerPoint Slides by
Anthony F. Chelte
Western New England College
5. Copyright 2005 Prentice Hall Ch 2 -5 Chapter Outline
6. Copyright 2005 Prentice Hall Ch 2 -6 Chapter Outline (contd)
7. Copyright 2005 Prentice Hall Ch 2 -7 The last thing IBM needs right now is a vision. (July 1993)
8. Copyright 2005 Prentice Hall Ch 2 -8 Agreement on the basic vision for which the firm strives to achieve in the long run is critically important to the firms success.
9. Copyright 2005 Prentice Hall Ch 2 -9 What do we want to become?
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11. Copyright 2005 Prentice Hall Ch 2 -11 Shared Vision --
Creates commonality of interests
Reduce daily monotony
Provides opportunity & challenge
Resource
http://www.csuchico.edu/mgmt/strategy/module1/sld007.htm
12. Copyright 2005 Prentice Hall Ch 2 -12 A national organization which represents its members in all aspects of poultry and eggs on both a national and international level.
13. Copyright 2005 Prentice Hall Ch 2 -13 The Vision of Manley Baptist Church is to be the people of God, on mission with God, motivated by a love for God, and a love for others.
14. Copyright 2005 Prentice Hall Ch 2 -14 The Vision of USGS is to be a world leader in the natural sciences through our scientific excellence and responsiveness to societys needs.
15. Copyright 2005 Prentice Hall Ch 2 -15 To be the first choice in the printed communications business. The first choice is the best choice, and being the best is what Atlanta Web pledges to work hard at beingevery day!
16. Copyright 2005 Prentice Hall Ch 2 -16 Vision Statement Examples The University of Maine at Fort Kent is a quality small public institution, with a curriculum tightly focused on undergraduate education in the traditions of the liberal arts and sciences. The university will select academic and professional programs of the highest quality, which respond to the needs of northern Maine and which build upon the regions unique culture and rural environment. The university will be recognized nationally and regionally as the education and outreach partner of choice. We Are Committed to:
A legacy of preparing quality teachers
High quality affordable and accessible education
Programs which foster a sense of community
Technically advanced academic and distance learning environments
Development of distinct rural-based identity and curriculum
Expanded rural research and development activities
Study and interaction with Maines wilderness environments
Development of graduate program initiatives
Expanded outreach activities
A fully developed student life program that supports educational development
Student preparation to meet the changing need of society
Active community membership and cultural enrichment
The University of Maine at Fort Kent seeks to become the finest small university within the University of Maine System and beyond.
UMFK
17. Copyright 2005 Prentice Hall 17 BUS 411 Day 4
18. Copyright 2005 Prentice Hall Ch 2 -18 Agenda Assignment # 1 due
Discussion on Business Mission and Vision
Some Group work
19. Copyright 2005 Prentice Hall Ch 2 -19 -- 90% of all companies have used a mission statement in the previous five years.
20. Copyright 2005 Prentice Hall Ch 2 -20 What is our business?
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23. Copyright 2005 Prentice Hall Ch 2 -23 Reveal what an organization wants to be and whom it wants to serve
24. Copyright 2005 Prentice Hall Ch 2 -24 Essential for effectively establishing objectives and formulating strategies.
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30. Copyright 2005 Prentice Hall Ch 2 -30 It is the California Energy Commissions mission to assess, advocate, and act to through public/private partnerships to improve energy systems that promote a strong economy and healthy environment
31. Copyright 2005 Prentice Hall Ch 2 -31 The Bellevue Hospital, with respect, compassion, integrity, and courage, honors the individuality and confidentiality of our patients, employees, and community, and is progressive in anticipating and providing future health care services.
32. Copyright 2005 Prentice Hall Ch 2 -32 John Deere has grown and prospered through a long-standing partnership with the worlds most productive farmers. Today, John Deere is a global company with several equipment operations and complementary service businesses. These businesses are closely interrelated, providing the company with significant growth opportunities and other synergistic benefits.
33. Copyright 2005 Prentice Hall Ch 2 -33 Mission Statement Examples The University of Maine at Fort Kent is a liberal arts based university offering quality baccalaureate and associate degree programs responding to the needs of northern Maine. The UMFK academic experience provides close interaction with faculty, small classes and the use of leading technology to prepare students for lifelong learning and success as professionals and engaged citizens of a democracy. Our curriculum emphasizes the special challenges of rural communities in America. The university preserves and fosters an appreciation of the Acadian and Franco-American heritage and culture while welcoming students of all ethnic and racial heritages. We celebrate our proximity to the wonder of Maines wilderness and the joys of outdoor sports. UMFK contributes to the economic, social and cultural development of the St. John Valley and we believe that a diverse student body enriches the learning experience of all
UMFK
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38. Copyright 2005 Prentice Hall Ch 2 -38 Define what the organization is
Define what it aspires to be
Limited to exclude some ventures
39. Copyright 2005 Prentice Hall Ch 2 -39 Anticipates customer needs
Identifies customer needs
Provides product/service to satisfy needs
40. Copyright 2005 Prentice Hall Ch 2 -40 Mission & Customer Orientation Customer manifesto (page 60)
Do not offer me things
Do not offer me clothes, offer me attractive looks
Do not offer me shoes, Offer me comfort for my feet and the pleasure of walking
Do not offer me a house, offer me security, comfort, and a place that is clean and happy
Do not offer me books, Offer me hours of pleasure and the benefit of knowledge
Do not offer me things, Offer me ideas, emotions, ambience, feelings, and benefits.
Please, do not offer me things
41. Copyright 2005 Prentice Hall Ch 2 -41 Affects development of vision & mission
Responsibilities to
Consumers
Environmentalists
Minorities
Communities
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44. Copyright 2005 Prentice Hall Ch 2 -44 2x average return on shareholders equity
Positive relationship to company performance
30% higher return on certain financial measures
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46. Copyright 2005 Prentice Hall Ch 2 -46 Components and Questions That a Mission Statement Should Answer Customers: Who are the firms customers?
Products or services: What are the firms major products?
Markets: Geographically, where does the firm compete?
Technology: Is the firm technologically current?
Concern for survival, growth, and profitability: Is the firm committed to growth and financial soundness?
Philosophy: What are the basic beliefs, values, aspirations, and ethical priorities of the firm?
Self-concept: What is the firms distinctive competence or major competitive advantage?
Concern for public image: Is the firm responsive to social, community, and environmental concerns?
Concern for employees: Are employees a valuable asset of the firm?
47. Copyright 2005 Prentice Hall Ch 2 -47 PepsiCo Mission PepsiCos mission is to increase the value of our shareholders investment. We do this through sales growth, cost controls, and wise investment resources. We believe our commercial success depends upon offering quality and value to our consumers and customers; providing products that are safe, wholesome, economically efficient and environmentally sound; and providing a fair return to our investors while adhering to the highest standards of integrity.
48. Copyright 2005 Prentice Hall Ch 2 -48 Ben & Jerrys Mission Ben & Jerrys mission is to make, distribute and sell the finest quality all-natural ice cream and related products in a wide variety of innovative flavors made from Vermont dairy products. To operate the Company on a sound financial basis of profitable growth, increasing value for our shareholders, and creating career opportunities and financial rewards for our employees. To operate the Company in a way that actively recognizes the central role that business plays in the structure of society by initiating innovative ways to improve the quality of life of a broad communitylocal, national and international.
49. Copyright 2005 Prentice Hall Ch 2 -49 Mission Statement Evaluation Matrix
50. Copyright 2005 Prentice Hall Ch 2 -50 Mission Statement Evaluation Matrix
51. Copyright 2005 Prentice Hall Ch 2 -51 Group Work Two groups
Page 69 Experiential Exercise 2A
A business mission statement is an integral part of strategic management. It provides direction for formulating, implementing, and evaluating strategic activities. This exercise will give you practice evaluating mission statements, a skill that is a prerequisite to writing a good mission statement.
Evaluate (15 min)
Criterion Productions, Inc.
Mid-America Plastics
Hatboro Area YMCA
UMFK
On next slide
Rainbow Cove, LLC
On next slide
52. Copyright 2005 Prentice Hall Ch 2 -52 Mission Statement Examples UMFK
The University of Maine at Fort Kent is a liberal arts based university offering quality baccalaureate and associate degree programs responding to the needs of northern Maine. The UMFK academic experience provides close interaction with faculty, small classes and the use of leading technology to prepare students for lifelong learning and success as professionals and engaged citizens of a democracy. Our curriculum emphasizes the special challenges of rural communities in America. The university preserves and fosters an appreciation of the Acadian and Franco-American heritage and culture while welcoming students of all ethnic and racial heritages. We celebrate our proximity to the wonder of Maines wilderness and the joys of outdoor sports. UMFK contributes to the economic, social and cultural development of the St. John Valley and we believe that a diverse student body enriches the learning experience of all
Rainbow Cove, LLC
The mission and vision of Rainbow Cove, LLC is to develop the properties owned on Big Madawaska Lake, Maine into several profitable business ventures that satisfy the following four requirements;
Benefit the economic condition of Northern Maine
Preserve the unique Swedish cultural heritage of the Big Madawaska Lake region
Foster an appreciation for the natural beauty of Northern Maine
Promote environmentally sound, four-season outdoor recreational activities
53. Copyright 2005 Prentice Hall Ch 2 -53 Evaluation
54. Copyright 2005 Prentice Hall Ch 2 -54 Group Work There is no one best vision or mission statement for a given organization. Analysts feel that KKD needs a clear vision and mission statement to prosper. Writing a mission statement that includes desired componentsand at the same time is inspiring and reconciliatoryrequires careful thought. Mission statements should not be too lengthy; statements under 200 words are desirable.
INSTRUCTIONS:
Take 15 minutes to write a vision and mission statement for KKD. Scan the case for needed details as you prepare your statements.
Join with three other classmates to form a group of four people. Read each others statements silently. As a group, select the best vision statement and the best mission statement from your group.
Read those best statements to the class.
55. Copyright 2005 Prentice Hall Ch 2 -55 Mission and Vision for KKD KKD Vision Statement:
KKD strives to be the leading choice of consumers for specialty baked goods and beverages.
KKD Mission Statement:
Krispy Kreme seeks to maintain its loyal customer base and attract new customers in both current and developing markets with its commitment to quality and consistency in its doughnuts, other baked goods, and beverages (1, 2, 3, 8). Krispy Kreme will lead the industry via a commitment to innovation, service, growth, and quality (4, 5). Its channel system and franchise system ensure profitability for retailers and franchisees while providing convenient access for customers. Krispy Kreme desires to instill the belief that the company is a set of capabilities, not just a product or brand (6, 7, 8, 9).