Currently in graduate school and would appreciate any help I can receive for an essay document that I am having trouble putting together upon research for the following assignment:
Purpose of Assignment
The purpose of this assignment is to give learners hands on experience working, mission, and vision statements and to increase learner’s knowledge of an organization’s core competencies.
Resources: Management: A Practical Introduction, Table 6.1; chosen organization’s mission, vision, and value statements, and strategic plan, BLS Industries at a Glance. (Web Link for BLS: https://www.bls.gov/iag/)
Table 6.1 from course material:
The Five Steps of the Strategic-Management Process
The strategic-management process has five steps, plus a feedback loop, as shown below. (See Figure 6.1.) Let’s consider these five steps.
FIGURE 6.1 The strategic-management process
The process has five steps.
Step 1: Establish the Mission & the Vision We discussed mission and vision in Chapter 5 and explain them further in the next section. The mission, you’ll recall, is the organization’s purpose or reason for being, and it is expressed in a mission statement. An organization’s vision is its long-term goal describing what it wants to become, and it is expressed in a vision statement, which describes its long-term direction and strategic intent.
Step 2: Assess the Current Reality The second step is to do a current reality assessment, or organizational assessment—to look at where the organization stands and see what is working and what could be different so as to maximize efficiency and effectiveness in achieving the organization’s mission.27 Among the tools for assessing Page 164the current reality are SWOT analysis, forecasting, benchmarking, and Porter’s model for industry analysis, all of which we discuss in Section 6.4.
Step 3: Formulate the Grand Strategy The next step is to translate the broad mission and vision statements into a grand strategy, which, after the assessment of the current reality, explains how the organization’s mission is to be accomplished. Three common grand strategies are growth, stability, and defensive, as we’ll describe.
Strategy formulation is the process of choosing among different strategies and altering them to best fit the organization’s needs. Formulating strategy is a time-consuming process both because it is important and because the strategy must be translated into more specific strategic plans, which determine what the organization’s long-term goals should be for the next 1–5 years.
In Section 6.5, we consider the three common grand strategies (growth, stability, and defensive); Porter’s four competitive strategies, single-product strategy versus diversification strategy, and the BCG matrix.
Step 4: Implement the Strategy Putting strategic plans into effect is strategy implementation. Strategic planning isn’t effective, of course, unless it can be translated into lower-level plans. This means that top managers need to check on possible roadblocks within the organization’s structure and culture and see if the right people and control systems are available to execute the plans.28
Step 5: Maintain Strategic Control: The Feedback Loop Strategic control consists of monitoring the execution of strategy and making adjustments, if necessary. To keep strategic plans on track, managers need control systems to monitor progress and take corrective action—early and rapidly—when things start to go awry. Corrective action constitutes a feedback loop in which a problem requires that managers return to an earlier step to rethink policies, redo budgets, or revise personnel arrangements.
Examine the mission and vision statements of your place of employment or an organization with which you are familiar. Then, use the internet to locate and examine the mission and vision statement of a comparable organization. Side Note: My chosen former organization’s (OhioHealth) mission and vision statements web link: https://www.ohiohealth.com/about-us/ I chose to use their competitor’s organization (Mount Carmel) to compare their mission and vision statement web link: http://www.mountcarmelhealth.com/mission-services Both are located in town of Columbus, OH.
Use the Mission and Vision Comparison Table provided to compare your organization’s mission and vision statement to the one you found on the internet. Side Note: Table is attached below that has to be included at the end of the essay.
Create a 1,400-word analysis including the following:
- Compare your organization’s mission, vision, and values against the criteria for what makes for robust statements.
- Summarize what you concluded when you compared your organization to the organization you found on the internet.
- Identify your organization’s core competencies.
- Examine your organization’s core competencies based on established definitions. Include a rationale for the selection of these core competencies.
- Briefly summarize your organization’s strategic goals.
- Evaluate whether your organization’s current behavior and business goals are aligned to its mission, vision, values, and core competencies.
- Determine if your organization lives up to its own mission, vision, and values.
- Justify your determination.
- Append your Mission and Vision Comparison Table to the end of the document.
Format the assignment consist with APA guidelines. APA 6th Ed. that has to include citations and peer-reviewed references as well.