Mission and Vision Statements

Mission and Vision Statements

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Mission and Vision Statements

What is the company’s mission statement? What is the company’s vision statement?

In future When I complete my studies, I will be willing to work for many companies and organizations. Among them is the Walmart company, that involves itself in the activities of retail. Walmart is currently ranked first in the Fortune 500 companies of the world. Like most other successful organizations, Walmart company has a mission and vision statement, that guides its operations. To begin with, the mission statement of the organization states, “Saving people money so they can live better.” The organization uses The mission statement to attain its vision. Its vision statement on the other hand states, “To be the best retailer in the hearts and minds of consumers and employees.” The vision statement of an organization explains the goals that the organization hopes to attain its operations. therefore, it guides the strategies and other operations that the organization is involved in. The mission statement of the organization on the other hand states the means the organization intends to use in (Ferguson, 2016).

What role do these have on the way the business operates?

Both the mission and vision statements of the organization play a major role in the way business organizations operate. For the case of Walmart to begin with, its vision is to becoming the best retailing organization that both consumers and employees are aware of. This vision is the guiding statement through which its mission has been formulated. This is because the mission is intended to steer the organization towards attaining its vision. The mission concerns the organization being able to save the money of the people and thus improving their lives. Since it is through this mission that the organization can attain its vision statement, all the operational strategies and plans are based on the organization’s mission. Walmart organization, therefore, ventures on the activities that have the capability of reducing cost for the people and thus saving them money. When the organization can make people spend less for more valuables, it is highly likely to be considered the best organization in its field and thus by aligning the strategies and operation of the organization with the mission statement, it can attain its vision easily.

Do the company’s actions seem to align with their vision and mission statements?

As explained, Walmart is well known to be a significantly successful organization. Its financial stability has enabled the organization to be ranked first about the fortune 500 companies in the world. This implies that the organization is currently the company that has the highest revenues. All this success is brought about by the operations that the organization has been involving in. Its ability to have many customers that are loyal, who increase its sales implies that its actions and operations completely align with its vision and mission statements.

How might the mission and vision of the organization affect or guide you as an employee or manager in the company?

the vision and mission statement of the organization would be the basis through which I make decisions in case am a manager or an employee in the company. The mission of Walmart, for instance, shows that the organization intends to save money for the people. During the formulation and approving of operational strategies, therefore, I would ensure that the strategies accepted and utilized by the organization are only the ones that are likely to save money for the people. Both the mission and vision of the organization, therefore, would guide me completely whether as an employee or a manager of the organization.

If the company does not have a mission or vision statement, what might be the effect of that?

When a company does not have a mission or vision statement, it can have significant difficulties that determines its goals and purpose. there are many strategies that companies can use to attain benefits, hence it would be exceptionally difficult to conclude the most suitable strategies that align with the purpose and aim of the organization. Therefore, all organizations should aim to have mission and vision statements (Angelica, 2001).

References

Angelica, E. (2001). The Wilder nonprofit field guide to crafting effective mission and vision statements. Saint Paul, Minn: Amherst H. Wilder Foundation.

Ferguson, E. (2016). Walmart’s Vision, Mission, Generic & Intensive Strategies: Panmore institute. Retrieved from http://panmore.com/walmart-vision-mission-statement-intensive-generic-strategies