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Perhaps the greatest advantage is that firms can gain new customers for their products and services, thus increasing revenues.
2. Disadvantages of International Operations
a. There are also numerous potential disadvantages of initiating, continuing, or expanding business across national borders. 1. Firms confront different social, cultural, demographic, environmental, political, governmental, legal, technological, economic, and competitive forces when doing business internationally. 2. Weaknesses of competitors in foreign lands are often overestimated and strengths underestimated. 3. Language, culture, and value systems differ among countries. 4. It is necessary to gain an understanding of regional organizations such as the European Economic Community and the Latin American Free Trade
Area.
5. Dealing with two or more monetary systems can complicate international business operations. 6. The availability, depth, and reliability of economic and marketing information in different countries vary extensively, as do industrial structures, business practices, and nature of regional organization.
THE BUSINESS VISION AND MISSION
I. WHAT DO WE WANT TO BECOME?
A. Importance of a Vision …show more content…
The vision statement should be short, preferably one sentence, and as many managers as possible should have input into developing the statement.
II. WHAT IS OUR BUSINESS?
A. Mission Statements
1. Drucker says asking the question, ³What is our business?´ is synonymous with asking the question, ³What is our mission?´
a. An enduring statement of purpose that distinguishes one organization from other similar enterprises, the mission statement is a declaration of an organization’s reason for being.´
b. Sometimes called a creed statement, a statement of purpose, a statement of philosophy, a statement of beliefs, a statement of business principles, or a statement defining our business, a mission statement reveals what an organization wants to be and whom it wants to serve.
B. Vision versus Mission
1. Many organizations develop both a mission statement and a vision statement.
Whereas the mission statement answers the question, ³What is our business?´ the vision statement answers the question, ³What do we want to become?´
2. Several examples are given in the textbook.
C. The Process of Developing a Vision and Mission Statement
1. As indicated in the strategic-management model, a clear mission statement
2. Disadvantages of International Operations
a. There are also numerous potential disadvantages of initiating, continuing, or expanding business across national borders. 1. Firms confront different social, cultural, demographic, environmental, political, governmental, legal, technological, economic, and competitive forces when doing business internationally. 2. Weaknesses of competitors in foreign lands are often overestimated and strengths underestimated. 3. Language, culture, and value systems differ among countries. 4. It is necessary to gain an understanding of regional organizations such as the European Economic Community and the Latin American Free Trade
Area.
5. Dealing with two or more monetary systems can complicate international business operations. 6. The availability, depth, and reliability of economic and marketing information in different countries vary extensively, as do industrial structures, business practices, and nature of regional organization.
THE BUSINESS VISION AND MISSION
I. WHAT DO WE WANT TO BECOME?
A. Importance of a Vision …show more content…
The vision statement should be short, preferably one sentence, and as many managers as possible should have input into developing the statement.
II. WHAT IS OUR BUSINESS?
A. Mission Statements
1. Drucker says asking the question, ³What is our business?´ is synonymous with asking the question, ³What is our mission?´
a. An enduring statement of purpose that distinguishes one organization from other similar enterprises, the mission statement is a declaration of an organization’s reason for being.´
b. Sometimes called a creed statement, a statement of purpose, a statement of philosophy, a statement of beliefs, a statement of business principles, or a statement defining our business, a mission statement reveals what an organization wants to be and whom it wants to serve.
B. Vision versus Mission
1. Many organizations develop both a mission statement and a vision statement.
Whereas the mission statement answers the question, ³What is our business?´ the vision statement answers the question, ³What do we want to become?´
2. Several examples are given in the textbook.
C. The Process of Developing a Vision and Mission Statement
1. As indicated in the strategic-management model, a clear mission statement