The paper "Business Strategy: Cath Kidson" is a great example of an assignment on business. A Mission Statement is defined as an organization's primary objective and purpose. The prime function of a mission is internal and is to define the key measures or measure the success of the organization, the prime audience of a mission statement is the stockholders and leadership team. Vision Statement defines the purpose of the organization, but it does so with respect to the values of the organization and not on the bottom line of the organization.
The vision statement communicates to all the stakeholders the values and purpose of the organization. It also gives direction to employees about the expectations of the organization in the context of their behavior and provides inspiration so that they give the best to the organization. The vision statement shapes the understanding of the customers of what the organization stands for and aspires to achieve. The objectives of an organization include the goals, mission, and purpose of an organization which is established by the management of the organization and communicated to all the stakeholders. The organizational objectives of an organization focus on the long-range intentions of the organization for successfully operating a business in the market.
It provides useful guidance to employees who seek to become successful and grow with the organization (Barney and Clark, 2007). The overall objectives, purpose, and mission of a business that has been established by its management and communicated to its employees. The organizational goals of a company typically focus on its long-range intentions for operating and its overall business philosophy that can provide useful guidance for employees seeking to please their managers (Choo and Bontis, 2002). The core competencies of an organization are strengths the organization has developed over time. The core competencies of an organization include a combination of technologies, skills, knowledge, processes, and expertise are achieved due to the long-term development of processes and experiences.
Barney, J. B. and Clark, D. N., 2007. Resource-based theory: Creating and sustaining competitive advantage. Oxford: Oxford University Press.
Choo, C. W. and Bontis, N., 2002. The strategic management of intellectual capital and organizational knowledge. Oxford: Oxford University Press.
Chrisman, J. J., Chua, J. H. and Sharma, P., 2005. Trends and directions in the development of a strategic management theory of the family firm. Entrepreneurship theory and practice, 29(5), pp. 555-576.
Gulati, R., 2007. Managing network resources: alliances, affiliations and other relational assets. Oxford: Oxford University Press.
Freeman, R. E., 2010. Strategic management: A stakeholder approach. Cambridge: Cambridge University Press.