Case study «Mission statement»

ISSUE

A mission statement is a statement of the aims, purposes and future activities of an organization. The objective of the mission statement is to define for the company’s stakeholders - its company’s employees, customers and shareholders - what kind of organization it is, what it believes in and in which direction it wants to go.

Here is an example of the mission statement of an international pharmaceutical company:

We aim to be the preferred supplier of pharmaceutical products in the United States and selected international markets, achieving the long-term growth and financial performance of a market leader.

The critical factors that drive our success are:

1. customer focus

2. wide product range

3. continuous process and product improvement

4. short lead times from development to market

5. reduced production costs

6. total quality environment

7. high standards of integrity and ethical conduct.

Now write a mission statement for a real or imaginary service company. First choose or invent the company and its service sector. Then write the text for the statement.

AGENDA

1. The aims of the mission statement

2. The content of the mission statement

3. The wording of the mission statement

Notes to the agenda

Present your views on the three items on the agenda.

Brainstorming

Think over the task and sound your decision, providing with effective arguments.

You have spent 3 months evaluating the new color scheme in which head office is to be painted. Industrial psychologists universally recommend pale blue. On the day before you are due to report to the board, the chairman mentions to you that his wife has had a brainwave. She would like to see HQ painted coral pink as her psychic consultant has advised her it is the color of success. Do you:-

1. Go ahead and report the psychologists’ recommendations of blue, ignoring coral pink?

2. Add a new section discussing the merits of coral pink as a ‘New Age’ alternative?

3. Come down in favor of coral pink, stressing the chairman’s partiality to this option?

INDIVIDUAL PROJECT / Presentation

Organization Framework (1 by choice)

Unit 6 theory: «culture & individual strategies

In business»

«Globalization requires that organizations adopt a cross-cultural

perspective in accomplishing their goals

In the context of a global economy» Rabi s. Bhagat

The quote refers to the fact that leading corporations are expanding their focus on diversity and inclusion in business worldwide. The aim is to attract and keep multicultural, multitalented workforces, who can connect and serve a lot of new customers in new emerging markets that will ensure continued success in the future.

Joel A. Baker in Wealth, Innovation and Diversity found evidence in history, science and business that roves beyond doubt that innovation is driven by diversity and creates wealth. He argues that diversity leads to efficient resource use, new thinking, lowered risks and increased productivity.

The opportunities for cultural clashes both inside and outside a company are increasing due to diverse recruitment policies, increased immigration, cross-national mergers and joint ventures. It is therefore important that managers become culturally competent and learn how to respond to such clashes so they can profit from the interplay of cultures.

FOLLOW-ON QUESTIONS…

1. What is rapport management? In what situations is it important?

2. What types of problems might companies from different cultures have when they work together?

3. Define the key stages of building a team working across cultures

4. Are team sports useful in building a team mentality?

5. Which companies in your country do a lot of international business? Would you like to work for such a company? Why/why not?