Business Policy and Strategy​​ Essay

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Question Description

Business Policy and Strategy

Over the course of this unit, we have discussed the importance of mission and vision statements. As a part of that discussion, we analyzed mission and vision statements for their effectiveness. For your Essay, you will expand on this topic:

Using your favorite search engine, research the mission and vision statements of different fortune 500 companies. Then, you will write an essay in which you compare and contrast the mission statements of two companies and the vision statements of two companies. You may use the same companies for both the mission and vision comparisons or separate companies.

Within your essay, include the following:

Explain the principle value of two vision statements.

Explain the principle value of two mission statements.

Compare and contrast vision statements of each organization in terms of composition and importance. Compare and contrast mission statements of each organization in terms of composition and importance.

Do you think organizations that have comprehensive mission statements tend to be high performers? How do mission and vision statements assist in selecting an industry-specific strategy?

Explain why a mission statement should not include monetary amounts, numbers, percentages, ratios, goals, or objectives.

Your essay should be a minimum of three pages in length or approximately 750 words, not including the title and reference pages.

Tutor Answer

henryprofessor
School: Cornell University

Attached.

Mission and Vision Statements - Outline

Thesis statement: All organizations in the world have mission and visions which guides
strategic decisions for respective companies.

I.

Companies examined
A. Walmart
B. Starbucks

II.

Principle values for Walmart
A. Commitment
B. Honesty
C. Integrity

III.

Principle values for Starbucks
A. Respect
B. Commitment
C. Cordial relationship and unity

IV.

Comparison and contrast
A. Principle values
B. Focus
C. Composition

V.

Complexity in statements and performance
A. There is no relationship

VI.

Why figures are not included in mission statements
A. Measurability


Running head: MISSION AND VISION STATEMENTS

Mission and Vision Statements
Name
Institution

1

MISSION AND VISION STATEMENTS

2

Mission and Vision statements
Almost all organizations in the world have a mission, and vision statements and their
roles cannot be disregarded as they help institutions to define their businesses as well as the
product that they offer to their customers. The vision statement, in particular, gives a reflection
of what a company may want to achieve in future when the mission of the organization is
achieved. This paper will compare and contrast the mission and the vision statements for
Walmart Stores Inc. and the Starbucks coffee company, which were among the companies that
made it be in the fortune 500 lists this year.
Principle Values
According to Grant (2015), principle value refers to a belief that a company has embraced values
that guides and drives the mission and vision statement of a particular organization. The
following are the respective mission and vision statements for Walmart and Starbucks
respectively.
Vision and Mission Statement Statements
Walmart:
Vision: "To be the best retailer in the hearts and minds of consumers and employees."
Mission: "Saving people money so they can live better." (Belsie, 2002).
Starbucks Coffee Company:
Vision: "To establish Starbucks as the premier purveyor of the finest coffee in the world while
maintaining our uncompromising principles while we grow."

MISSION AND VISION STATEMENTS

3

Mission statements: "To inspire and nurture the human spirit – one person, one cup and one
neighborhood at a time." (Table, 2014).
Based on the analysis of the two vision statements, the principle value that can be derived
from Walmart's vision statement is a commitment; the company strives to give the best
experiences to their customers, regarding the products. They also offer good working
environment and salaries to their employees since they have their interest at heart. The other
values that could be derived from their mission statement are honesty and integrity; the company
strives at charging reasonable prices for their products to improving the standard living of
people. Currently, the company employs cost-leadership in the retail ind...

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Review

Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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