Does your organization understand the differences between statements of Vision, Mission, Values, Goals, and Objectives?
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Vision of Apple Inc. 'Apple is committed to ensuring the highest standards of social responsibility in everything we do. The companies we do business with must provide safe working conditions, treat employees fairly, and use environmentally responsible manufacturing processes wherever Apple products are made. Forbe's Fortune Research Report on Apple Inc. Introduction The Mission and Vision Statement of Apple Inc. Apple CEO - Tim Cook SWOT Analysis of Apple Inc. Strengths Weaknesses Opportunities Threats The Four Functions of Management: Planning Leading Organizing Controlling Apple - Sales for the Year 2008 & 2007 Comparison and Analysis Apple Inc. Introduction: Apple. This mission and vision statement clearly articulates the company’s values and goals. Mission statement: Offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them. Vision statement: To create a better everyday life for the many people.
Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad. Objectives and Strategies When a company has established its marketing mix and began to understand its plan for the four P’s: product, place, price, and promotion. It must then incorporate objectives and strategies for what the company aims to do and how it will reach its goals.
- You SEE a Vision (a verbal image of what we ultimately want to achieve)
- You HAVE a Mission (your business purpose and market sector)
- You BELIEVE in Values (your moral compass and expected behavior)
- You PURSUE Goals (the results we choose to accomplish)
- You ACHIEVE Objectives (measurable targets along the path to our goals)
Shared Views
Organizational purpose comes from a shared view of our vision, mission, and values. Satisfying customers requires that you understand their needs, know your own processes, and then set goals and objectives to drive and evaluate your actions.
Business Charter
A business Charter is an organizational statement of purpose.
- Why are you in business? (Vision)
- What business are you in? (Mission)
- What are your principles? (Values)
To perform strategic planning, you must begin with a clear Charter. Each element of the Charter is important. You need to link these vision, mission, and values statements. A vision without a mission is just a pipedream. And, tactics must be guided by honorable values.
Vision Statement
A vision statement is created as a compelling verbal image and forms a mental picture of the future. It should define what we seek to become as an organization, yet describe something that is realistic. The vision should generate human energy and engagement. In other words, it should provide direction and focus for the organization.
To develop a vision statement, ask yourself these questions:
- What is your dream or vision of the future?
- What is the loftiest picture you can imagine?
Then, convince others of the value of that vision. Express it in a way that aligns with their best interests. Encourage them to buy into your purpose for the organization. Keep the statement brief and memorable. Use it to focus your activities.
Mission Statement
Your mission is the business reason for your organization’s existence. It is an element of the charter. It doesn’t describe a specific outcome and contains no time limit or measurement. The mission statement provides the basis for setting your goals and is used to allocate resources.
A typical mission statement format might be:
To provide (product) to (customers) for (reason) in (marketplace).
To define your mission, begin by describing why your organization exists. Identify your scope of products and services. Identify your customers and the audience for your offerings. Then, write a brief and succinct mission statement.
Values Statement
Values are the beliefs behind your vision and mission. A worthy vision is guided by worthy values. Values give dignity and direction to your mission. They are the moral compass and expected behaviors during your vision quest. A values statement may include elements like:
- Integrity in all our actions
- Commitment to employees
- Quality of our products
- Protection of environment
- Innovative business ideas
- Continual learning
What do you hold dear and inviolate? What core values guide your activities? Express these values for an improved work environment and to allow the organization to prosper.
Strategy Development
A strategy is a statement of your approach to achieving your goals. Your vision, mission, and values play an important role in developing your business strategy. They provide the framework for generating and screening strategic options. They provide an organizational identity and understanding of business directions.
The business strategy can be viewed as how you will use your mission to achieve your vision. Strategies are critical to the success of an organization because this is where you begin outlining the plans and actions to accomplish your goals.
Goals and Objectives
Goals are conditions to be achieved in the future. They must be defined consistent with your vision, mission, and strategic directions. Goals guide your decisions and actions. However, they usually do not involve measurable results, and therefore, do not change as often as objectives.
Objectives are focused on critical issues and milestones. They describe the activities and targets to achieve your goals. They identify the dates for completing the activities. They are measurable in terms of being achieved, or not. For example, a general goal might be to reduce waste. The specific objective might be to reduce waste from 5% to 3% by the end of 2017.
Policies and Procedures
Policies are the intentions and directions of an organization as formally expressed by its top management. These adopted policies are used to guide an organization to reach its goals.
Procedures are the specified way to carry out an activity or a process. They are the methods used to express policies as specific actions for everyday operations and support.
Together, policies and procedures ensure that the top management point of view is translated into steps that will result in the intended business outcomes.
- Length: 10 pages
- Sources: 10
- Subject: Sports - College
- Type: Essay
- Paper: #75348774
- Related Topics: Music Industry, T Mobile, Iphone, Android
Excerpt from Essay :
Strategic Planning:Apple Inc. and Industry
Apple Inc. is global technological corporation based in California, America. The company's business operations encompass the designing, developing and retailing of computer software, electronics and also provision of online services. In particular, Apple Inc. is set within the technology industry, competing on different fronts such as the mobile sector and computer sector as well. Technology transformation and change has completely altered the mobile industry and the manner in which it used to function. The internet specifically has changed the way in which people view business and make transactions. The current business model of Apple Inc. can be categorized broadly into three sectors: Retail, Software Engineering and Hardware Engineering. Apple can be said to be a multinational corporation as it is involved with three major companies; Microsoft, The Gap and Dell which lie in different industries and that makes it even more successful. The software engineering sector is innovative and brings out the success in the hardware and retail businesses.
Apple's basic approach to the business is through diversification by designing different products and venturing into different businesses. The company strategizes in globalization by marketing its products globally and also through retail and individual markets. The company adds value to its customers by providing a specific design to its products. It has also opened retail stores such as the apple store for customers. Apple is best known for designing its products. The company adds value to its shareholders by maximizing the profits of the company. The value of the employees is added by the companies by being given employee perks such as personal time to work on their own products. Apple Inc. competes in multiple businesses. This includes hardware (PCs and laptops), software (Cloud services, Adobe, Safari), and retail business (Apple Stores and Genius Bar). This venture into multiple businesses has great significance as it increases the revenues of the company in overall. For example, the iPhone generates a great majority of the revenue generated by Apple. The purpose of this paper is to undertake the strategic planning of Apple Inc. offering suitable objectives that the company implement.
Vision Statement, Mission Statement
Just about every organization across the world has a vision and mission statement in addition to business strategies that are geared towards achieving the long-term and the short-term goals of the organization. Different from majority of the other organizations and companies, Apple Inc. does not have a published vision statement. However, the organization's vision statement is conveyed to the public by its leaders. This is completely dissimilar from any other company. However, this can be deemed to be radical and avant-garde meaning that the vision of the company is changing at all times which might be perceived as a significant aspect as the global technological world today keeps changing. The mission statement of Apple Inc. states that 'Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad' (Blodget, 2013). The business strategies of the company are indeed aligned to the mission of the company. This can be seen by the constant innovation of products almost every year. For instance, Apple recently unveiled its latest smartphone iPhone 5S and is in the preparation of unveiling iPhone 6 in the forthcoming. The company has also involved itself with iCloud, which is yet another innovative product (Zylla-Woellner, 2010).
Analysis of Objectives
Apple is dedicated to control the industry with its amazing products such as iPhone, iPad, iPod, its operating system OS X and even cloud services with the iCloud. Apple's main goals and ambitions follow the company's mission and vision as well as its internal and external environments. Continual investment in research and development is critical to facilitate innovation of new and improved products and technologies. Apple is also committed to expand its digital footprint in the music industry, and worldwide expansion of its retail operations. The company's strategies are in line with its mission, objectives, and both internal and external environments.
Internal Environment and External Environment Analysis
1. SWOT Analysis
This is a technique utilized to analyze both the internal
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Click Here to View Entire DocumentStrengths
1. Internationally Renowned Brand
Apple has been proclaimed and is very well-known across the globe for being one of the most innovative companies. In particular, the company's brand is renowned for inventive diversity across its products.
2. Loyal Consumer Base
Apple Inc. has a very strong loyal consumer base that sticks to its products. This offers it a competitive edge over other technological companies.
3. High Level of Innovation
The company is largely acknowledged for manufacturing and unveiling innovative and groundbreaking products, for instance iPhone, iPod, iMac and also the iCloud.
4. Strategic Alliances: Apple has created strong strategic partnerships with different mobile providers such as AT&T as well as T-Mobile.
5. Strong Marketing and Advertising: This is one of the strong suits of the company. Irrespective of is high-end products, the promotion level of the company is top-notch, which appeals to consumers (Bohm, 2009).
Weaknesses
1. Costly and High-end Products
The company prices its products at considerably higher values compared to rival firms. This might be a downside for the company with consumers opting for cheaper products. For instance, Chinese smartphones that are almost $200 cheaper (Swartz, 2016).
2. Great Responsibility Levels
Being such a major company and brand as Apple, the firm is obliged to produce top-notch products and surpass the expectations of the consumers at all time. A lack of this simply implies a downgrade in the brand.
3. Incompatibility with Different Operating System
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Apple products are solely compatible with iOS and OS X. For this reason, the consumers might opt to remain with their respective preferences of hardware or software.
4. Patent Infringements
Apple Inc. has experienced several litigations regarding the breach and transgression of patents. Such aspects are a downside as they tarnish the brand (Fine, 2009).
Opportunities
1. Increased Growth in Smartphone and Tablet Demands
Owing to increased demand, this poses as a great opportunity for the firm to expand its markets into the BRIC nations and Africa.
2. Mergers and Acquisitions
Apple Inc. is a large and well-known corporation. Its status and market capitalization give it the prospects to merge with or acquire smaller innovative firms.
3. Demand for New Products
Apple faces demand from consumers for technological products such as new iPhone versions, iPads and iMacs. This implies that the company has the chance to increase revenue generated and at the same time solidify market share.4. Obtaining Different Suppliers of Materials
At present, the major provider of application processors of Apple Inc. is Samsung Electronics, which happens to be one of the company's biggest rival. It is imperative for the company to source another supplier to preclude dependence on its major rival (Fine, 2009).
Threats
1. Pressure from Competitors and New Entrants
Apple Inc. faces stiff competition on all fronts from competitors such as Samsung as well as new entrants like Huawei. These offer a threat as the company might end up losing some consumers.
2. Dominance of Android Operating System
The Android OS continues to offer a serious threat to iOS with increased dominance in market sales across the world. This increased growth and predilection dissuades clients from buying Apple products.
3. Fast-Paced and Changing Technology
Being set in the technology industry, companies such as Apple Inc. face the threat of incessantly coming up with new, innovative and superior products to prevent them from becoming obsolescent quickly.
4. Appreciation of the Dollar
Majority of the revenue generated by the company are attained from overseas. The appreciation of the dollar implies increased prices for the products and might cause a decline in the revenues (Fine, 2009).
2. Porter's Five Forces Analysis
Porter's Five Forces Analysis Model is an approach that is used to analyze the external environment of an organization. In particular, this technique enables the firm to assess its capacity to be able to create or sustain a competitive advantage. These five forces include threat of rivalry, threat of substitutes, threat of buyers, threat of suppliers and threat of entry.
1. Threat of New Entrants: Low
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The threat of new entry is a major concern because new entrants into the market are easily able to imitate the product and restrict the competitive advantage. Despite the fact that several companies are popping up in the market…Mission And Objectivesapple Inc. Release