Core Values A …show more content…
The mission statement would explain who the main consumers will be, goods and services that are produced by the company, and the geographic location of the business. According to Belcher, L. (2013), “Most companies have a mission statement that gives people an idea of their overall goals for the organization.” In short, the mission statement is basically an outline of the business’s purpose, the industry, and their competitive advantage which could be as simple as a brief statement outlining the company’s objectives and viewpoints. The mission statement would also need to be communicated efficiently company-wide. It is also important that the mission statement is reviewed periodically to ensure that everything is still accurate, and that all employees have a clear understanding of the mission statement. The mission statement can also detail the company’s community involvement. Coach Inc.’s mission statement is very straightforward. Coach Inc.’s mission statement states that the company is determined to lead the industry in manufacturing the best quality of handbags at a lower cost. Coach Inc. continues to be unwavering with their mission. The company is also very compassionate when it comes to the employees and community involvement.
Vision …show more content…
The company’s objectives have a more specific target, whereas the company’s goals are the preferred outcomes. Each individual organization will set their own methods of utilizing the objectives and goals. The key is consistency. Whether the company is employing objectives or goals; each one should support the business’s purpose, core values, mission, and vision. Coach Inc.’s goals were to be the number one producer in leather handbags. When the sales began to decrease and competition became tough, Coach Inc. enhanced the company’s objectives by creating trendy and elegant products for its consumers. This allowed Coach Inc. to contend with the other industry