Question

Managers are responsible for leading a company to achieve the company strategy. A well constructed vision, mission statement and set of goals will help leaders to communicate the strategy and help company members understand what is expected of them.
Imagine that you will start a new company and are beginning the process of setting your organization's strategy. Using strategic management theory as appropriate, do the following five things:
a. Give your company a name.
b. Describe what your company does or produces.
c. Write your company's vision. Explain what the purpose of a company vision is, and why your vision is suitable for your company.
d. Write your company's mission statement. Explain what the purpose of a mission statement is, how it is different to a vision statement, and why your mission statement is suitable for your company.
e. List your company's goals. Explain how your goals are S.M.A.R.T.

Answer 1

a. Name of the Company: Dreams Unlimited

b. What company does or produces: Providing service to Non Resident citizens of the United States living in other countries of the globe

c. Vision: "Best E-management of Fixed Assets using latest Information and Communication technology ".

A large chunk of US citizens moves to other countries of the globe for variety of reasons: To set up and manage companies in tax-heaven countries, expanding globally, search better growth prospects and a variety of other reasons. When migrating to other countries, they leave their Fixed assets (Land, apartments etc) and they need someone who can take care of those fixed assets. We shall manage the assets (in US)of those US citizens.

d. Mission: To facilitate management of fixed assets of US citizens living abroad. This can be made possible by using Information and Communication Technology. For instance, one US citizen living in Liberia (Africa) wants to know the status of his house. Our employees will carry on vigilance operation to take care of those fixed assets. Consequently, we will make a video of that house and send a shoot to US citizen living in Liberia.

e. Our goal is to increase our customer base by 20 per cent every year.

SMART is an acronym for Specific, Measurable, Achievable, Realistic, and Timely. Our goals are specific to US citizens living outside US. Our goal is measurable as mentioned above. Our goals are achievable as nobody else has implemented this idea on a large scale. Information and communication Technology has made this business mechanism achievable. Our employees can take video byte of our customers and send them by using internet. Further, using ICT shall deliver service on time.