What is the firms commitment towards economic objectives

Assignment Help Operation Management

Reference no: EM131708809

Unit: Implementation and Control

Background Information: ToolsCorp Corporation is a fictitious company that does not exist anywhere. For the purpose of this course, it is located it in Tennessee.

It builds power tools, lawn mowers, lawn furniture, microwaves, and ranges. All products are manufactured locally and sold through large retailers that place sales papers inserted in every Wednesday and Sunday paper. Although they have a thriving business in the United States and Canada, ToolsCorp is trying to break into the global marketplace.

Nine Essential Componentsof a Mission Statement

COMPONENTS OF AN EFFECTIVE MISSION STATEMENT

Mission statements can and do vary in length, content, format and specificity. Most practitioners and academicians of strategic management consider an effectively written mission statement to exhibit nine characteristics or mission statement components

. Since a mission statement is often the most visible and public part of the strategic management process, it is important that it include most, if not all, of these essential components.

Components and corresponding questions that a mission statement should answer are given here.

1. Customers: Who are the enterprise's customers?

2. Products or services: What are the firm's major products or services?

3. Markets: Where does the firm compete?

4. Technology: What is the firm's basic technology?

5. Concern for survival, growth, and profitability: What is the firm's commitment towards economic objectives?

6. Philosophy: What are the basic beliefs, core values, aspirations and philosophical priorities of the firm?

7. Self-concept: What are the firm's major strengths and competitive advantages?

8. Concern for public image: What is the firm's public image?

9. Concern for employees: What is the firm's attitude/orientation towards employees?

APA Format

Times New Roman Font 12

References attached for more explanation

Deliverable Length: See assignment details

1. A full mission statement containing the nine components and presented in a well written paragraph

2.Key operating principles as you will apply them

Reference no: EM131708809

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