Mrs. JH Van Molendorff
Question 1
1.1 Identify : Mission Statement Comfort Group
Importance of a mission statement:
A mission statement is formulated by the top management of the organization. The mission statement clarify what product or service the business offers, what their goals and objectives are and who is the target market. Show the ‘special niche’ of the business, what separate them from other similar organisations in the market. It shows the organisations reason for existence.
1.2 Difference: Strategic, tactical and operational goals (also discuss planning required & give examples
Goals Strategic Goals
(Long term goal) Tactical Goals
(Functional goal) Operational Goals
(Short term goal)
Difference among Designed with the entire organization in mind and aligned to the organisations mission statement Period of 3 – 10 years Decided by Top Management Strategic goals needs to be very specific as tactical goals are derived from them Focus on the future of the organization Decided by Middle Management Functional goals Period 1- 3 years Action steps/ plans that must be taken to achieve the organisations strategic goals Decided First level Management Short term goals Period maximum of 1 year This is all operational issues within the organization planning the routine task of operational employees
Type of Planning required Strategic Planning
(Long term plans) Developed by Top Management to accomplish mission goals of the organization Concentration strategy Period 3- 10 years, but the frame may vary from one organization to another Look at the current state of the organization and determine what the future holds and steer the origination in the right direction with the goals in mind Typically three strategies within strategic planning
1) Concentration strategy
2) Horizontal integration strategy
3) Joint venture strategy Tactical Planning
(Functional planning) Intermediate plans that middle management is
1.1 Identify : Mission Statement Comfort Group
Importance of a mission statement:
A mission statement is formulated by the top management of the organization. The mission statement clarify what product or service the business offers, what their goals and objectives are and who is the target market. Show the ‘special niche’ of the business, what separate them from other similar organisations in the market. It shows the organisations reason for existence.
1.2 Difference: Strategic, tactical and operational goals (also discuss planning required & give examples
Goals Strategic Goals
(Long term goal) Tactical Goals
(Functional goal) Operational Goals
(Short term goal)
Difference among Designed with the entire organization in mind and aligned to the organisations mission statement Period of 3 – 10 years Decided by Top Management Strategic goals needs to be very specific as tactical goals are derived from them Focus on the future of the organization Decided by Middle Management Functional goals Period 1- 3 years Action steps/ plans that must be taken to achieve the organisations strategic goals Decided First level Management Short term goals Period maximum of 1 year This is all operational issues within the organization planning the routine task of operational employees
Type of Planning required Strategic Planning
(Long term plans) Developed by Top Management to accomplish mission goals of the organization Concentration strategy Period 3- 10 years, but the frame may vary from one organization to another Look at the current state of the organization and determine what the future holds and steer the origination in the right direction with the goals in mind Typically three strategies within strategic planning
1) Concentration strategy
2) Horizontal integration strategy
3) Joint venture strategy Tactical Planning
(Functional planning) Intermediate plans that middle management is