Assessing Business Missions, Visions, Objectives, Goals & Core Competencies

Business Strategy
TASK 1

1.1 Assessing business missions, visions, objectives, goals & cor
e competencies informing strategic planning
•Business Vision-:A vision gives a thought of what the organization want to acc
omplish. It is related to accomplishment of something in future. It should be an i
nspiration for the people in organizations.
• Mission-:It is about what can be done in order to achieve vision(Aitken,2016
). A mission statement do not need intuition,it gives a clear picture about what o
rganization can do and what it can't. A good mission statement should be-:

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• Objective and goals :It is a type of statement will help to achieve the desired
goals of the organization. Goals can be achieved through the hard work done
in the organization. Various example of business goals include-:
• Increment of gain margin
• Increment in skillfulness
• Improvement in employee training
• Core Competency Theory of Strategy:This is a strategic theory that provide
action that need to be taken by the firm to accomplish welfare in the
competing market.
• The concept states that the firms should work only with their strengths in
the places where they face competition.