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The Organizations Purpose: Mission, Vision, and Goals
Strategic management is the process through which managers come up with plans that will enable them to realize the goals, objective, mission, values and vision of the organization (Daspit et al., 2017). This process is continuous and is bound to change as the objectives and goals of the organization evolve. Organizations adopt strategic management in order to adapt to the changing trends in the global market. Strategic management process begins with creation of goals, values, mission statement and objective that serve as a guide to enabling the organization to realize the strategic opportunities in the market. It is through goal setting that managers are able to make strategic decisions on the ways that will be applicable in achieving their targets and remain competitive globally. Strategic management also involves analysis of key strengths and weaknesses on the organization and to make an analysis of other important external factors such as emerging technology and this analysis enable manages to come up with strategies for keeping up with the new markets and technology (Daspit et al., 2017). Strategy formation is a core strategic management concept that involves developing actions that will be used by the organization to realize its goals. This involves prioritizing and decision making on the way the key issues facing the organization will be addressed. After decisions are made, strategies are implemented and the key strategies are put in practice. Implementation involves gathering the necessary resources that are important in realizing the set strategies such as coming up with a budget, policies and programs, human resources and other management plans. The final step in strategic management is strategy monitoring that takes place after implementation (Daspit et al., 2017). It involves evaluating the strategy in order to determine whether it achieves the anticipated results. In this step, the managers determine the areas that will be measured then compares them with the anticipated results. Monitoring is an important step in strategic management since it enables managers to make adjustments to plans and adapt to changes in business environment.
Ford motor company is an example of an organization that is successful in fulfilling its vision, mission, values and goals. Being the world’s fifth largest automobile company, Ford adopts a mission statement that is successful in guiding its strategy in expanding to the global market (Ready & Mulally, 2017). It vision statement has also been useful in driving higher sales across the world. For Ford, the vision and mission statements are determinants of achieving success in the automobile industry internationally. Ford’s vision statement states that “people working together as a lean, global enterprise for automotive leadership’’ (Thompson, 2017). The company further believes that success of an organization is determined by customer, employee, dealers, investors, communities and suppliers satisfaction. Ford puts more emphasis on global leadership which in line with its vision for ensuring that it is a top company in the global automobile market. Being the fifth largest automotive company based in US, there is still more that need to be done in order to ensure that the company succeeds in achieving it vision of being the top most company in the automotive market.
The mission statement for Ford is “One Team, One Plan, One Goal’’ and was unveiled during the leadership of Allan Mulally in 2008 (Thompson, 2017). The mission statement has been able to respond to the challenges that the company faced in during the 2000s global crisis. With the current mission statement, the company is focusing on ensuring that there is consistent quality and design for the products globally (Ready & Mulally, 2017). The mission statement also encourages teamwork in order to achieve the goals. The organization is unified globally by the mission statement and leaders are putting efforts on improving performance in order to gain global leadership position.
Daspit, J. J., Chrisman, J. J., Sharma, P., Pearson, A. W., & Long, R. G. (2017). A Strategic Management Perspective of the Family Firm: Past Trends, New Insights, and Future Directions. Journal of Managerial Issues, 29(1), 6-29.
Ready, D. A., & Mulally, A. (2017). How to Become a Game-Changing Leader. MIT Sloan Management Review, 59(1), 63.
Thompson, A. (2017). Retrieved 4 January 2018, from http://Ford Motor Company’s Vision Statement, Mission Statement