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The Management School Lancaster University

The Management School Lancaster University. MNGT220 Week 3 Tutorial 2. Role of objectives / mission statements Strategy lenses. Strategy Lenses. The Management School Lancaster University.

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The Management School Lancaster University

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  1. The Management School Lancaster University MNGT220 Week 3 Tutorial 2 • Role of objectives / mission statements • Strategy lenses

  2. Strategy Lenses The Management School Lancaster University • 1a. Using each of the three strategic lenses, describe how the strategy of Dell (Illustration 1.1, pg. 8-9) can be characterised.

  3. Strategy Lenses The Management School Lancaster University • Design Lens • The use of financial planning (lower margins) is a good example on how the design lens can be used to find a strategic position • The underpinning economic rationale that a profitable existence with a lower margin is possible in the first place • This mindset leads to a different approach to the operations (cost avoiding)

  4. Strategy Lenses The Management School Lancaster University • Experience Lens • The translationof B2B experience to the B2C sector

  5. Strategy Lenses The Management School Lancaster University • Ideas Lens • A new business model that departs from the industry norm • This requires boldness and vigilance (entrepreneurial characteristic) • This makes cooperation with suppliers (supply chain/ make to order) a main strategic issue • The idea of giving flexibility to consumers is not new; emphasis is on the scale of operations

  6. The Management School Lancaster University The mission statement of Citicorp Summary of statement The premise of Citicorp’s is to offer an array of products and services of all its market segments primarily where a customer need has been established. Its entry into the the lucrative consumer market has begun to show signs of positive returns, while the corporate market continues to remain a highly profitable segment with strong demands for many of the products and services Citicorp offers. Its technological capacity is and will continue to be a significant driving force behind many new products and improving upon its global communications network. Citicorp will also continue its active participation in legislative reform since many of the laws in existence today preclude its activities in various product-market and geographical segments within the United States. 1

  7. The Management School Lancaster University Flymo Ltd • to expand in size, influence and profitability • to strive to be just that little bit more professional than • our competitors in the total package we present to the customer • to remain in advance of all other world wide in air-cushion • mowers, petrol and electric • to expand our range of products with other quality yard-care • products (re. garden equipment), which can be marketed • through our existing channels 2

  8. The Management School Lancaster University Statement of mission/objectives: purpose why it exists why it was formed ethos how an organisation behaves towards employees / community etc acts as constraint on means statement of strategy: means how an organisation proposes to carry out its purpose and ethos 4

  9. The Management School Lancaster University .... importance of mission/objectives • define the organisation and its environment • .... the process of legitimisation • provide standards to assess organisational performance • help co-ordinate decisions • a framework for decision maker 6

  10. The Management School Lancaster University • complicated by the nature and number • of possible objectives e.g. ‘Stakeholder Theory’ • owners • employees • customers • public • suppliers complicated by the process of formulating objectives: mental frames, value systems, power relationships, ‘trickle up’ theories formulation nature 7

  11. Citicorp The Management School Lancaster University • extremely poor example • legitimises any action by any manager • language is very insulting to certain stakeholders (consumers) – lucrative = ripping off

  12. Flymo Ltd The Management School Lancaster University • better example • carefully crafted • technology specific (aims) • legitimises technological R&D focus • signals to managers where the focus of resource allocation should be • this mission statement better guides/ empowers managers and employees

  13. Final Points The Management School Lancaster University • mission statements should be crafted logically • however, there is also an underlying ethos (compare company culture) that can act as a constraint to the objectives if not taken into account

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