Crafting and Executing Strategy Free Essay Example, 1000 words

According to Porche (2003), the mission is the very purpose of the company. The proposed mission statement has the following elements: I. Target Market – Target customers are the children and their parents/guardians II. Contribution – The product lines are aimed to produce books that will fulfill the needs of the future generations. For the time being, the company will provide the youngsters with vivid, colorful, and informative books. III. Distinction – Completely focused on children’s literature and education. Section – 3 The vision statement clearly puts forward that where the company must be steered to or the very dream it wants to achieve as a team. It inspires the organization’s various stakeholders, particularly the managers and the workers, to give their best. Mission and vision statements together help in the construction of the fundamental basis of an overall strategic management plan (Porche, 2003). This plan must help the company not only to obtain a competitive edge but to be ready to innovate if necessary. For the publishing company, the following can be a good vision statement: We aim at filling up the gap in the contemporary publishing industry, where there is a chronic lack of contemplation on books and text materials that can fulfill the educational and recreational needs of the children and young adults. The vision statement clearly establishes a precise goal. We will write a custom essay sample on Crafting and Executing Strategy or any topic specifically for you Only $17.96 $11.86/pageorder now With this vision, the company must aim to become the market leader in a given segment of the publication industry. In the long run, this vision statement keeps the company’s target customer population explicitly defined. Section – 4 Here is a list of five key objectives for the publication company. I. First of all, the legal specifications regarding intellectual property rights should be followed so that any possible and unwanted dispute can be avoided. Every publication must be assigned an International Standard Book Number (ISBN) as per legal obligations. (International Standardization Organization, 2013) II. Purchase an Internet domain name for the publishing company website and develop an online store. The web-based storefront is to be used to compete with the larger publishing houses that have diverse and publicized product lines sustained by prolific advertising accounts. III. A dependable and global readership has already been determined (see the mission and vision statements). Now contact reputed writers and illustrators who can produce quality books. IV. Use advanced printing technology that can be synchronized with a computer based publication system must be utilized.