scholarly journals The importance of a vision and mission for small, medium-sized and large businesses

2004 ◽  
Vol 7 (2) ◽  
pp. 206-220 ◽  
Author(s):  
JL Van der Walt ◽  
J Kroon ◽  
BJ Fourie
Keyword(s):  
South Africa ◽  
Strategic Planning ◽  
Small Businesses ◽  
Planning Process ◽  
Mission Statement ◽  
Strategy Implementation ◽  
Gauteng Province

Although the vision and mission are important to the strategic planning of a business and much time and effort are spent on their formulation, they aren’t used as planning instruments. The purpose of this paper was to determine whether management understands the vision and mission as complementary concepts and whether they use them effectively in the planning process. This study was conducted by sending questionnaires to businesses in the Gauteng Province where most SMEs in South Africa are situated. Findings confirmed that the majority of businesses, especially small businesses, can distinguish between and have visions and missions, but do not apply them optimally in strategy implementation. Recommendations include that businesses should have a written vision and mission statement, which should be communicated effectively and applied in planning and strategy implementation.

scholarly journals An Assessment of the Impact of the Tourism Sector on Regional Economic Development in Gauteng Province, South Africa

2021 ◽  
Author(s):  
Daniel F. Meyer
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Small Businesses ◽  
Growth And Development ◽  
Local Market ◽  
Gauteng Province ◽  
Economic Growth And Development ◽  
Tourism Sector ◽  
Effective Policy ◽  
The Impact

South Africa is facing three main developmental problems, including high levels of poverty, unemployment, and inequality. The tourism sector allows for a relatively easy entry into the local market for small businesses and entrepreneurs and has the potential to create jobs and subsequently, income. Tourism development could be utilised as a driver for economic growth and development. The main objective of this research was to assess the impact of the tourism sector on economic growth and development in South Africa, focusing on the Gauteng Province which, is the economic hub of the country and even Africa. The methodology utilised was based on a quantitative design, using secondary time series pooled panel data approach including, all the municipal entities in the region. Annual data from 2000 to 2019 were used to analyse the impact of tourism on economic growth and development. Tourism variables include measurements such as tourism spending and international tourism trips. Results confirm the tourism-growth nexus and the sector allows ease of market entry for small businesses, resulting in employment creation and income for the poor in developing regions if promoted via effective policy implementation, even in regions where tourism is not the leading sector.

scholarly journals Mission Statements in Port Authorities: Empirical Analysis of Content in Spanish Port System

2019 ◽  
Vol 8 (2) ◽  
pp. 235-245
Author(s):  
Ignacio De la Peña Zarzuelo ◽  
María Jesús Freire-Seoane ◽  
Beatriz López-Bermudez
Keyword(s):  
Strategic Planning ◽  
Planning Process ◽  
Mission Statement ◽  
Mission Statements ◽  
Point Of View ◽  
International Standards ◽  
Business Practices ◽  
Theoretical Point ◽  
Port Authorities ◽  
Port System

Introduction: A structured Strategic Planning process has been developed in the Spanish Port System since 1990s. One of the first elements of this process is the formulation of the mission statement of each Port Authority. Aim: An in-depth review of the mission statements of the Spanish Port Authorities is carried out in this research, and mission statements are assessed from a theoretical point of view. The goal of the study is to discuss how mission statements of these entities are aligned with the international standards. Methods: Mission statements are captured from public sources. Two criteria are used for the assessment: its content (analyzing if the mission statement reflects nine key elements usually considered internationally), and its length (number of words). As the first component is qualitative, a Delphi method was used in the assessment of this element. Results: The mission statements of these Port Authorities reflect more frequently than the benchmark omparison made by over 50 companies seven of the nine key elements. The only two fields in which Spanish Port Authorities show a negative gap are those related to "technology” and “concern of employees”. In terms of length, the average of 32 words is shorter than the 50-100 words recommended by some authors. Conclusions: The Strategic Planning in the Spanish Port Authorities is a long and well -structured process. Port Authorities are essentially market-oriented public organisms and their mission statements seems to be properly formulated following business practices in terms of their content.

scholarly journals Strategic Planning in an Academic Context

2011 ◽  
Author(s):  
W. Spencer Smith
Keyword(s):  
Software Engineering ◽  
Strategic Planning ◽  
Planning Process ◽  
Mission Statement ◽  
Evaluation Criteria ◽  
Strategic Plan ◽  
Academic Context ◽  
Strategic Planning Process ◽  
Vision Statement ◽  
Academic Units

This paper presents a document driven strategic planning process for academic units. Details are provided on the steps in the process that will lead, with a reasonable investment of time and effort, to a quality strategic plan document that incorporates input from all stakeholders. The resulting plan consists of a mission statement, vision statement, goals, objectives and implementation ideas. The specific organization of the elements of the plan and tables for systematically presenting the details on definitions, relationships between components, evaluation criteria and timelines are presented using a template. The proposal for the template approach is motivated by the success of this approach in software engineering practise. The template facilitates producing a document that is complete, consistent, understandable and maintainable. The process and the final product are illustrated using examples from Engineering 1 at McMaster University.

scholarly journals The Impact of Strategic Planning on Growth of Small Businesses in Nigeria.

2019 ◽  
Vol 2 (1) ◽  
pp. 69-84
Author(s):  
Babandi Ibrahim Gumel
Keyword(s):  
Strategic Planning ◽  
Small Business ◽  
Small Businesses ◽  
Word Of Mouth ◽  
Planning Process ◽  
Single Case ◽  
Shared Vision ◽  
Business Growth ◽  
Small Business Growth ◽  
The Impact

Purpose- There is a need to develop a framework that will improve the understandings of business planning and performance and its effects on growth particularly during the stages of small business development. The study attempted to fill in the gap stated.  Design - The single case qualitative study relates small business growth with strategic planning where financial performance, market share, sales, and profits or instead return on investment is used to measure the growth. Existing literature fails to establish a concrete relationship between strategic planning and growth of small businesses which indicates a gap in the literature that will help understand the steps of managing the organizational transition of small business growth.  Findings - The study fails to establish a significant relationship between formal planning and transitional growth, but instead found the influence of the planning process in communication the owner’s goals, vision, mission, and intentions to both internal and external stakeholders of small businesses. The study influence of the shared vision with customers on making them loyal and advertisers through word of mouth. The study revealed how customers’ word of mouth increased the customer base of small businesses thereby increasing the product demand and eventual expansion of capacity leading to the growth of small businesses. The growth of small businesses will result in an increased reduction in the unemployment rate which will reduce the poverty rate in the Nigerian economy.  Practical Implications- Answering the primary and supporting questions will help small business owners to understand how strategic planning is essential in the transitional growth of their businesses.

Closing the strategic planning and implementation gap through excellence in the public sector: empirical investigation using SEM

2020 ◽  
Vol 24 (4) ◽  
pp. 553-573 ◽  
Author(s):  
Hassan Al-Dhaafri ◽  
Mohammed Alosani
Keyword(s):  
Strategic Planning ◽  
Planning Process ◽  
Strategy Implementation ◽  
Partial Least Square ◽  
Least Square ◽  
Mediating Effect ◽  
Primary Data ◽  
Content Type ◽  
Strategic Planning Process ◽  
Planning Strategy

Purpose Strategic planning and strategy implementation are proposed to impact overall performance. However, the purpose of this study is to empirically examine the mediating effect of organisational excellence on the relationship between strategic planning, strategy implementation and organisational performance (OP). Design/methodology/approach Hypotheses have been developed for testing using primary data obtained through a survey questionnaire. The data were gathered from the Dubai police organisation. Out of a total of 500 questionnaires, only 244 questionnaires were returned. For measurement and structural models, the structural equation modelling (SEM) approach was used to analyse the data. Findings All proposed hypotheses were supported and confirmed the positive and significant relationships between strategic planning, strategy implementation, organisational excellence and OP. Statistical findings using SEM-partial least square also confirmed the mediating role of organisational excellence as a mechanism between strategic planning, strategy implementation and OP. Practical implications Results discussed many valuable implications. The outcomes will help managers, decision-makers and practitioners to consider organisational excellence strategy when implementing strategic planning process to achieve the best performance. Originality/value The current study is one of the most important empirical studies to analyse and examine the relationships between strategic planning, strategy implementation organisational excellence and business performance. In addition, this study is one the rare studies that involve excellence as a practice when implementing strategic planning process.

scholarly journals Strategic Planning for the Chinese American Library Association

2021 ◽  
Vol 6 (1) ◽  
pp. 55-72
Author(s):  
Wenli Gao ◽  
Raymond Pun ◽  
Lian Ruan
Keyword(s):  
Strategic Planning ◽  
Planning Process ◽  
Mission Statement ◽  
Task Force ◽  
Strategic Plan ◽  
Chinese American ◽  
American Library Association ◽  
Strategic Planning Process ◽  
Planning Task

This report explored the Chinese American Librarians Association (CALA)’s strategic planning process for 2020-2025 during COVID-19. The paper introduced CALA’s mission statement, values, and discussed the importance of the strategic plan. A strategic planning task force was formed to create an opportunity for membership input in virtual town hall meetings and surveys. The authors presented a case study on the process of revising a strategic plan and discussed the implementation phases. The authors also shared the challenges and recommendations in organizing strategic planning for a library association.

scholarly journals An Empirical Analysis of Employee Commitment and Impact of Mission Statements

2018 ◽  
Vol 6 (4) ◽  
pp. 323
Author(s):  
Rajbir Singh ◽  
Aparna Datta Bakshi
Keyword(s):  
Strategic Planning ◽  
Empirical Analysis ◽  
Planning Process ◽  
Mission Statement ◽  
Employee Commitment ◽  
Mission Statements ◽  
Statistical Tools ◽  
Strategic Planning Process ◽  
The World ◽  
And Performance

<p><em>Mission Statements drive the strategic planning process of organizations. Mission Statements adorn the receptions and websites of organizations the world over. It is a mission statement which defines the role that the organization plays in the society. A mission statement speaks about the essential purpose of the organization, concerning with why it is in existence, the nature of business it is in and the customers it seeks to serve and satisfy. Importance of mission statement in achieving vision pushes the organization to have a mission statement. On contrary there are several organizations that do not have any mission statement and doing well in business. This paper studies whether the mission statement plays a deciding role in growth and performance of any organization. Necessary statistical tools are used to analyse the data. </em></p>

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