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MGT - 603 (Assignment No.1)

This document contains an assignment on analyzing mission statements. It provides two statements and asks to identify the vital components of each based on a list of options. Statement 1 contains the components of customers and technology. Statement 2 contains the components of products/services and markets. It also asks to identify the narrow and broad mission statements from the two provided. Statement 2 is identified as the narrow mission statement, focusing only on products. Statement 1 is identified as the broad mission statement, encompassing customers and the use of technology.

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Asif Mahmood
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2K views

MGT - 603 (Assignment No.1)

This document contains an assignment on analyzing mission statements. It provides two statements and asks to identify the vital components of each based on a list of options. Statement 1 contains the components of customers and technology. Statement 2 contains the components of products/services and markets. It also asks to identify the narrow and broad mission statements from the two provided. Statement 2 is identified as the narrow mission statement, focusing only on products. Statement 1 is identified as the broad mission statement, encompassing customers and the use of technology.

Uploaded by

Asif Mahmood
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MGT 603 - Strategic Management


Assignment No.1
Requirement – 1. Mention any of the three vital components of a mission statement in the provided statements with proper reasoning.
Solution.

Se
Vital Components Reasoning Statement-1 Statement-2
r

Who are the firm’s customers? Enrich the daily lives of individuals,
1. Customers the customers
families and communities

Products or What are the firm’s major products or providing innovative and
2. services? providing quality home care products
services efficient financial solutions

Geographically, where does the firm


3. Markets
compete?

Is the firm technologically current? with the help of modern


4. Technology
technology

Concern for Is the firm committed to growth


5. survival, growth, and financial soundness?
and profitability

What are the basic beliefs, values,


aspirations, and ethical priorities of ensure our shareholders to
6. Philosophy
the firm? invest with confidence in us
What is the firm’s distinctive competence
or major competitive create and nurture long-term offer convenience, quality and
7. Self-concept
advantage? relationships affordability
________________________________________________________________________________________________________________________________________________

Is the firm responsive to social,


Concern for public community, and
8.
image environmental concerns?

Concern for Are employees a valuable asset of the The skilful employees and
9. firm? equal growth opportunities
employees

Requirement – 2. Identify the narrow and broad mission statements from the given statements.
Solution.
a. Narrow Mission Statement. “Providing quality home care products” (Satatement-2).
b. Broad Mission Statement. “Providing innovative and efficient financial solutions” (Satatement-1).

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