Question

The mission statement is the statement that defines the business of the company, the objectives of the company and the approaches to attain these objectives. The mission statement is the formal summary of the values of an organization. The mission of McDonald’s is to be a favorite place of the customers and the way to drink and eat; they applied global strategy in their organization that is the plan to win. They promise to provide exceptional experience, products, place, promotion, and price to the people and committed to continuously enhance the operations and improve the customer experience. According to chapter 2 slide 19, the ideal mission statement of the company specifies the needs of the buyer and tries to satisfy them. The mission of McDonald’s specified the needs of the customer and also tries to provide the best quality food in low price.

The targets of the organization that can be indicated in financial terms are known as financial objectives. For example, Apple company achieve higher returns of the capital that is invested,

The long term goals of an organization that provides help to convert the mission statement into the big vision are known as a strategic objective, for example, Wal-Mart achieves the overall lower costs than rivals.

Do you agree with the posted above? why?

Answer 1

I agree with the above post. Any Corporation is that legal entity which has a distinct identity separate from its owners and is an artificial person that has been conferred with rights and responsibilities just like in case of that which is possessed by the individuals. In this regard, once the Corporation is created, it develops a strategic plan usually, to run the Organization. The strategic plan primarily begins with defining the Mission and Vision statements of the Corporation.

Mission statement is the lifeline of any Organization to define its very purpose of existence. It helps in lending direction, to remain focused, assists in formulating strategies, prevents people from falling into the activity trap and develops shared purpose within the Organization. For example, FedEx mission ‘Peace of Mind’. The elaborated Mission statement is further mentioned on the official site of FedEx that explains its commitment to generate health financial returns to its shareholders by establishing value-added logistics and transportation services through the focused operating companies. It further expresses its striving for the development of such relationships that are mutually rewarding in nature with its stakeholders like the suppliers, employees (team members) and their partners. They further regard the highest ethical and social standards in their operations.