Impact of flawed mission statement on a company

Author: Iloka Benneth Chiemelie
Publsihed: 18th April 2017

Aspects of strategic plan

The aspects of strategic plan represent the elements that the company adopt to shape its business process. They include: vision statement – which is their roadmap for the future, in terms of defined path that the company wishes to follow and what it aims to achieve in the future (Adner & Kapoor, 2016); mission statement – which is a definition of what the company is all about, and it normally include goals and values of the organization (Gilad & Hoppe, 2016); values – which are the fundamental believes of how the company operates and it can be provided as a guideline for the management process (Kenny, 2016); goals – which are the defined strategies that the company adopts in order to attain its corporate mission (Panchak, 2016); and objectives – which are specific, measurable, action based, realistic and timed strategies that are used to attain the company’s goals and values (Patten, 2016).

Dangers of having a flawed mission statement?

Considering that the mission is a roadmap of where company wishes to be in the future (in terms of how big it wants its market share to be, reputation, performance, return etc.), a flawed road map will potentially bring about a flawed destination in the sense that:

·         It will not allow the company to attain its objectives;

·         It will not allow the company to attain its values and goals; and

·         It could potential lead the company to failure (Panchak, 2016).

How a flawed statement affect the development of a unit’s mission statement and subsequent individual job descriptions and goals. Why?

It will shift their role to the flawed statement, which can be potentially different from what the company aims to achieve (Gilad & Hoppe, 2016). This is because the statement is the guiding principle to the corporate process – in terms of objectives, roles and accountability (Patten, 2016).

References

Adner, R., & Kapoor, R. (2016, 10). Right Tech, Wrong Time. Retrieved from Harvard Business Review: https://hbr.org/2016/11/right-tech-wrong-time

Gilad, B., & Hoppe, M. (2016, 7 19). The Right Way to Use Competitive Intelligence. Retrieved from Harvard Business Review: https://hbr.org/2016/06/the-right-way-to-use-analytics-isnt-for-planning

Kenny, G. (2016, 7 21). Strategic Plans Are Less Important than Strategic Planning. Retrieved from Harvard Business Review: https://hbr.org/2016/06/strategic-plans-are-less-important-than-strategic-planning

Panchak, P. (2016, 10 12). Transformational Thinking. Retrieved from Industry Week: http://www.industryweek.com/strategic-planning-execution/transformational-thinking

Patten, S. (2016, 10 15). Strategic Planning Doesn’t Have to Be Painful. Retrieved from Businss to Communities : http://www.business2community.com/strategy/strategic-planning-doesnt-painful-01678780#TXUbVL8RKxw0HU92.97