Mission, Vision, And Values Of Ben And Jerry's

1972 words - 8 pages

Critically evaluate the mission, vision and values of a company that you are familiar with and propose alternative formulations of same

The Mission, Vision and Values of a company play a Fundamental role in Strategy Formulation and Strategic planning. We will discuss throughout this assignment, how developing effective mission, vision and values can help shape, develop and guide a firms Strategic choices. They reflect the firm's fundamental core ideology. At the most basic level a mission statement can describe the firms overall purpose for being. It provides an inside to the present business scope and purpose of the firm that is "who we are, what we do, and why we are here". It explains ...view middle of the document...

By using Ben and Jerry's as am example, I aim to detail and show that by having the characteristic's that make up an effective mission, vision and values of a firm that can be developed for the long term and withstand the test of time. Developing and defining the mission, vision and values of the firm and thus the development of a strategic vision act as the foundations (pillar 1 of the 5 pillars in Strategy formulation) for which a firm can craft and execute its strategy. Having clear mission, vision and value statements allows for the setting of objectives, provides guidance and acts as a benchmark for the crafting of a company's strategy to achieve those objectives and in the implementation of its strategy.

As we can see from Ben and Jerry's Mission Statement above, it sets out as part of its corporate strategy to implement these three integrated missions. That is to develop a high quality product whilst promoting business practices that respect and protect the environment. Whilst dedicating to achieving a sustainable economic growth under a concept of linked prosperity which they call "Caring Capitalism" which goal is to make profits but also providing career opportunities and rewards for its employees. At the same time incorporating Social activism and finding creative and innovative ways of addressing all three parts whilst respecting individuals externally and internally and the communities for which they are a part of. By working to achieve these goals Ben and Jerry's created a Fourth priority which transcends all the others, that is to give equal treatment and attention to all dimensions of the vision statement thus to integrate ,interlink and balance these three dimensions in the day to day running and decisions of the company.

We can see from our analysis of Ben and Jerry's example that an effective mission statement should also comprise two major dimensions. Firstly Mission/Vision statements should have an internal dimension that describes the products and functions it can provide to meet the customers needs and the needs of its employees and stakeholders. Secondly an external dimension which sets out the market in which it will operate i.e. Super premium ice cream, thus identifying the type of customer it targets Super-premium Ice cream customers, socially aware people and why the customer should buy it i.e. because of its natural high quality and unique flavours and because of the firms socially responsible brand and image. A common misconception about vision/mission statements of company's that develop them for only customers and shareholders in mind, however as we see with Ben and Jerry's it should be relevant and meaningful to the actual business itself ,its purpose, employees and intended strategies as well. We can also see that Ben and Jerry's Mission and vision statements shows and reflects the firm's fundamental core ideology through its three interrelated missions which has lasted for 30years in business and so...

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