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- View The Talks
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1. What is strategic management?
- Prof. Dave Ketchen
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2. How to articulate uniqueness and measure success
- Prof. Jeremy Short
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3. What makes an industry profitable?
- Prof. Dave Ketchen
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4. How do firms differ in their use of scarce resources?
- Prof. Jeremy Short
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5. How should a firm compete in an industry?
- Prof. Dave Ketchen
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6. What are common competitive actions?
- Prof. Jeremy Short
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7. What determines success in international markets?
- Prof. Dave Ketchen
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8. What are common corporate level growth strategies?
- Prof. Jeremy Short
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9. Creating an effective organizational structure
- Prof. Dave Ketchen
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10. What roles do boards of directors play?
- Prof. Jeremy Short
Printable Handouts
Navigable Slide Index
This material is restricted to subscribers.
Topics Covered
- SMART goals
- Balanced scorecard
- Triple bottom line
- Vision statement
- Mission statement
Links
Series:
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Talk Citation
Short, J. (2022, October 30). How to articulate uniqueness and measure success [Video file]. In The Business & Management Collection, Henry Stewart Talks. Retrieved November 6, 2024, from https://doi.org/10.69645/SPBD9134.Export Citation (RIS)
Publication History
A selection of talks on Strategy
Transcript
Please wait while the transcript is being prepared...
0:00
Greetings. I'm Jeremy Short,
the G. Brint Ryan Chair
in Entrepreneurship and
Professor of Management at the
University of North Texas.
I'm here to speak with
you today about how do
organizations articulate
their uniqueness
and measure their success?
This is a function of
using vision statements,
mission statements, and setting
their goals effectively.
0:23
I've always liked the
quote by J. D. Salinger,
the author of
Catcher in the Rye.
He mentions, "I think
that one of these days,
you're going to have to find
out where you want to go.
And then you've got to
start going there."
In many ways, vision mission
statements help you set
your course and then goals
help you measure your progress.
0:44
A vision statement often
looks at something that
organizations might almost
view as unattainable.
I think about the
classic golf movie,
Tin Cup, where the main
character talks about
a perfect golf swing
being something
unattainable and in many cases,
vision statements strive
to such perfection.
For example, the
vision statement of
Google is to develop the
perfect search engine.
Other examples include Avon,
to be the company that best
understands and
satisfies the product,
service, and self-fulfillment
needs of women globally.
1:18
In contrast to a
vision statement,
a mission statement
is more about what
an organization is
doing right now.
For example, Starbucks strives
to inspire and nurture
the human spirit,
one person, one cup,
and one neighborhood at a time.
It always has been and always
will be about quality.
Mission statements should help
articulate what a business does,
what an organization does that's
different from
their competitors.
It might not be the
most important thing
in the world to know what
your mission statement is,
some organizations
value that and they
have employees memorize
their mission statements.
Others do not.
But what is important is,
can the organization
for their customers,
for their suppliers,
for other stakeholders,
can it be seen as unique
from competitors?
You might not know the
mission statements of
Federal Express or UPS, or a
particular postal service.
Can you articulate how
they're different?
They serve different needs
in some meaningful way.
Ideally, a mission statement in
a greater concept behind
that of uniqueness, helps
understand for
individuals and for
the organization these
kinds of differences.