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Why the Vision and Mission Are Vital In Shaping Organizational Strategy
Vision and mission are critical elements and standard of a firm’s organizational strategy. Most organizations with good establishments have vision statements and mission statements that act as foundational guides in the development of organization’s goals. An organization’s mission highlights the organization’s purpose and acts as a guide for all the organization’s decision making. Vision statement creates a direction of the company and highlights commitment to corporate values such as openness, transparency, responsibility, integrity, and other values (Martin, Farndale, Paauwe, and Stiles, 2016). Organizational strategy is the strategic planning, which is the process of creating organizational goals and strategies to accomplish mission and vision of the firm. The organization uses the mission statement to develop short and long-term goals. Strategies then are created to achieve company’s goals.
Examples of Firms Which Seem To Be Living Up (Or Failing in) Fulfilling Their Vision and Mission
Livestrong Cancer Foundation
Livestrong is a good example of an organization which seems to fail in fulfilling its mission and vision due to scandal issue and lack of financial resources which threat the survival of the firm. The C.E.O of Livestrong resigned after less than a year working on the job. This is a blow to the organization that has struggled with a drastic reduction of revenue and donations since Lance Armstrong was accused of doping scandal. The C.E.O, Chandini Portteus, was brought to assist rebuilding the organization, but the Cancer Foundation now faces another leadership challenge as its international brand continues to diminish (The Associated Press, 2016). The departing C.E.O said she is leaving the organization to focus on her family. The cancer foundation had two complete years of drastic decline prior Portteus took office in early 2015. The organization’s donations declined from $23 million to $15 million after a broadcast showed Armstrong admitting using drugs. The organization’s revenue continues declining after key sponsors have terminated their funding. The organization now needs a lot of time to redevelop its image and to regain public support and donor funding. The board of directors and leadership team needs to do a lot to redevelop the vision, which the organization once had to make the firm great again.
Livestrong is an example of organizations that have failed to fulfill its declared mission and vision. The cancer foundation has failed to achieve its mission because of scandal issue. The celebrity of Lance Armstrong was the driving force for the foundation’s fundraising activities. His forefront visibility and leadership influenced the management model of the organization. However, his admission for doping led to the downfall of his ethics and his public reputation and consequently challenges the ability of the organization to pursue its mission. This scandal continues to impact how the public perceives Livestrong’s ethical responsibility and consequently continues to challenge the ...