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Business Strategy Tutorial 2 Question

This document discusses a lecture on charting a company's direction. It provides background information on MM College, an educational institution founded in the UK in 1988 by Mary Lancaster. Mary's original mission was to educate young children and she recognized people as the institution's most valuable asset. She developed core values of human resources development and teamwork. Mary wanted these values strongly ingrained in the company's culture. Recently, MM College opened a new branch for mentally challenged children and Mary wants to convey the institution's core values to new staff there. The document poses two questions. The first asks how Mary can communicate MM College's core values and mission to new staff. The second evaluates and ranks the vision statements of four companies -

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336 views3 pages

Business Strategy Tutorial 2 Question

This document discusses a lecture on charting a company's direction. It provides background information on MM College, an educational institution founded in the UK in 1988 by Mary Lancaster. Mary's original mission was to educate young children and she recognized people as the institution's most valuable asset. She developed core values of human resources development and teamwork. Mary wanted these values strongly ingrained in the company's culture. Recently, MM College opened a new branch for mentally challenged children and Mary wants to convey the institution's core values to new staff there. The document poses two questions. The first asks how Mary can communicate MM College's core values and mission to new staff. The second evaluates and ranks the vision statements of four companies -

Uploaded by

YeeWern Wong
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Tutorial 2 (Week 3) Lecture 2: Charting a company’s direction

Question 1

MM College

MM College is an educational institution based in the United Kingdom (UK). The institution was
founded by Mary Lancaster in 1988. Mary started to pursue her dream of educating young children
when she was 18 years old. She then started her mission of “​children are the future human capital and
driving force of the nation​”. Two years later, she developed two additional missions as part of the
institution’s on-going expansion plan. She recognises that people are the institution’s most valuable
assets, and in line with this spirit she believes that the following two principles will be of value to all
the staff:

• ​Human Resources:
We will train and develop our staff by providing them with opportunities for career
advancement, knowledge sharing and experience within the organisation.

• ​Teamwork:
We recognise the contribution and support of individual employees based on their strengths
and capabilities, and their concerted effort in making the teamwork environment more
challenging and successful.

Mary wanted to ensure that the two principles were strongly ingrained in the company’s culture; she
made it a point that her staff attend relevant child care and education seminars and workshops as well
as enrol into higher formal educational programmes such as “Masters in Child Development and
Developmental Psychology”. Two months ago, MM College opened a new branch which specialises
in giving education to mentally challenged children. Mary has hired new staff for this branch and
wants to convey to them the core values of her institution.

Required:

(a) Mary realised the importance of having a mission statement for MM College from the inception of
the institution but was uncertain of its coverage. Advise Mary on any ​EIGHT (8) ​essential
components of an effective mission statement from the theoretical viewpoint. (10 marks)

(b) Discuss how Mary can communicate the core values and mission of MM College to the new staff.
(10 marks) [Total: 20 marks]

BBDM2043 BUSINESS STRATEGY 2-1


Tutorial 2 (Week 3) Lecture 2: Charting a company’s direction

Question 2

Vision Statement ​Effective Elements and Shortcomings

Using the information of the four companies below, critique the adequacy and merit of the following
vision statements, listing effective elements and shortcomings. Rank the vision statements from best
to worst once you complete your evaluation.

American Express
• ​We work hard every day to make American Express the world’s most respected service brand.

Hilton Hotels Corporation


Our vision is to be the first choice of the world’s travelers. Hilton intends to build on the rich heritage
and strength of our brands by:
• ​Consistently delighting our customers
• ​Investing in our team members
• ​Delivering innovative products and services
• ​Continuously improving performance
• ​Increasing shareholder value
• ​Creating a culture of pride
• ​Strengthening the loyalty of our constituents

MasterCard
• ​A world beyond cash.

BASF
We are “The Chemical Company” successfully operating in all major
markets. • ​Our customers view BASF as their partner of choice.
• ​Our innovative products, intelligent solutions and services make us the most competent
worldwide supplier in the chemical industry.
• ​We generate a high return on assets.
• ​We strive for sustainable development.
• ​We welcome change as an opportunity.
• ​We, the employees of BASF, together ensure our success.

Sources: Company websites and annual reports.

Question 3

Strategic & Financial Objectives

Go to the company investor relations websites for Starbucks (investor.starbucks.com), Pfizer


(www.pfizer.com/investors), and Salesforce (investor.salesforce.com) to find examples of strategic
and financial objectives. List four objectives for each company, and indicate which of these are
strategic and which are financial.
BBDM2043 BUSINESS STRATEGY 2-2

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