Strategy – Mission, Vision and Core Values

Organisational Direction

Strategy should begin with a clear concept and vision of what business the organisation is in and what path its development should take.

The mission statement specifies what activities the organisation as a whole intends to pursue now and in the future; it says something about what kind of organisation it is now and is to become and, by omission, what it is not to do and not to become. It depicts an organisation’s character, identity, and scope of activities.

The mission statement communicates the firm’s core ideology and visionary goals.

Vision Statements are often seen as different to Mission statements, although they can in fact be combined.  Vision Statements should be more immediate and inspirational.  The vision statement expresses the desired destination of the organisation within a certain time-frame.

Mission and Vision statements from most organisations are usually run of the mill/ordinary .  They lack inspiration and a real understanding of what is needed.  They tend to make obvious statements about “putting customers first, … valuing employees;  making profits”;  etc.

Good Mission and Vision Statements are meant not only to provide direction, but should also be inspirational to those who follow them.

Core Values – Corporate values statements

Core values reflect the deeply held values of the organisation and are independent of the current management fads.

Similar to Mission and Vision Statements, Corporate Values Statements provide:

• a vision for your future;
• a mission that defines what you are doing;
• values that shape your actions;
• strategies that zero in on your key success approaches; and
• goals and action plans to guide your daily, weekly and monthly actions.

Examples of values that some firms have chosen to be in their core:

• excellent customer service
• pioneering technology
• creativity
• integrity
• social responsibility

Effective Planning

The Requirements of Effective Planning

The major requirements for effective marketing planning can be classified under three broad headings:

• strategic requirements;
• managerial requirements; and
• operational (tactical) requirements

Strategic Requirements

Strategy comes from a Greek word, referring to the office of a general. It refers to the big picture.   It is the broad direction, the way we think we can succeed in a competitive environment

The Stakeholders

In the construction of the business strategy, there are 3 main stakeholders;

• The Organisation.
• The Market.
• The Competition.

There are also many subsidiary players involved in the environment who can at times exert influence on planning;

• Suppliers
• Government Bodies
• Employees
• Action Groups
• The public

Information – Research.

Good decisions are based on good information.  The first source of information will be your own records (internal information).  A Marketing Information System (MIS) will provide Market Intelligence, Market Research

Planning – Managerial Requirements

The major requirements of planning from management are:

1.         Commitment at all levels of management from chief executive down to individual line staff.

2.         Creativity and innovative thinking.

3.         Experience and sound organisation judgment:  planning cannot replace these – it can, and should augment them.

4.         The ability to analyse and synthesis data, information and events.

Operational (tactical) Requirements

Major operational (i.e., administrative and systems) requirements are:

1.         Good information and sound research procedures.

2.         Co-ordination and integration of data, people and resources.

3.         Standardisation and simplification of planning systems, wherever possible.

4.         Clear designation of responsibilities for planning and consequent action points.