Mission

• The vision is the foundation for the firm’s mission.
• specifies the businesses in which the firm intends to compete and the customers it intends to serve

  mission
• The firm’s mission is more concrete than its vision.
• similar to the vision, a mission should establish a firm’s individuality and should be inspiring and relevant to all stakeholders
• Together, the vision and mission provide the foundation that the firm needs to choose and implement one or more strategies.
• The probability of forming an effective mission increases when employees have a strong sense of the ethical standards that guide their behaviors as they work to help the firm reach its vision.
• business ethics are a vital part of the firm’s discussions to decide what it wants to become (its vision) as well as who it intends to serve and how it desires to serve those individuals and groups (its mission)
• CEO involves more people in developing the mission because it deals more directly with product markets and customers, and middle- and first-level managers and other employees have more direct contact with customers and the markets in which they serve