Management and Organizational Studies 4410A/B Lecture Notes - Lecture 1: Vision Statement, Business Process Modeling, Mission Mountains

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 4410A/B
• Professor: John White

Document Summary

The readings introduce the concepts of vision, mission, business model, and objectives. These are critical foundations for the long term success of an organization but unfortunately they are sometimes misused, misunderstood, and/or misinterpreted. Sometimes the terms "vision" and "mission" are used interchangeably but they are different and serve different roles. The concept of a company"s business model is also critical to understanding its long term sustainability. These are important concepts that we will keep in mind as we prepare for the business cases, your group report, and the final exam in the second half of the course. Look at the vision and/or mission statements of any company for which you have worked. In the five forces video michael porter uses the model to describe the attractiveness of two different industries: airlines and soft drinks. We"re doing cases about both so let"s look at something else - retail grocery.