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Strategic management

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    In order to accomplish this, management is required to use various tools at their disposal, such as a mission statement, a vision statement, and strategies that provide the organization with direction as well as purpose. The aim of this paper is to discuss each of these tools and explain how a company can utilize them to establish a foothold in their perspective markets. For this exercise, the company that will be used will be the fictional company, Ross Technologies, which provides IT services to other businesses.

    This paper will present a mission statement, a vision statement, and key objectives for the company to follow to help ensure success. Ross Technologies is a company that offers high level IT services and provides its customers with services ranging from network implementation to developing and executing technical strategies to help hem along in their prospective markets. It has been in operations for more than ten years and has a unique organizational culture.

    The company is traded on the New York Stock Exchange and employees 500 people. Ross Technologies has eight main locations in New York, NY, Miami, FL, Chicago, IL, Los Angels, CA, Seattle, WA, Dallas, TX, Washington DC, SST Louis, MO, with headquarters in Raleigh, NC. Some of their larger clients include Goodyear Tires, Progressive Insurance, Wells Fargo Financial Services and BMW. Ross Technologies also collaborates with Microsoft, Apple Systems, Mastered, Visa, Symantec and other leading technology companies.

    Mission Statement The corporate mission statement is a vital tool for any organization and is commonly used in strategic management (Vizier & Matzo, 2013, peg 178). The mission statement provides a sense of direction by helping to build and communicate a sought-after image of the organization and improves employees’ moral by providing motivation and performance incentives for a company (Vizier & Matzo, 2013, peg 178). The mission statement for Ross Technologies reads as follows: It is our mission to help our customers gain the competitive advantage in their market from the use of latest technology.

    To enable our customers to benefit from our extensive IT experience, as well as to those in which we collaborate with, and to deliver tangible business results, which enable our clients to propel to the top of their market and enable profiting from the advanced use of technology. We strive to build long-term client relationships based on mutual trust, expertise and respect. With this mission statement in mind, we hope to ensure our current customers of our commitment and draw new clients in with our solemn promise.

    We want readers to understand that we are there to help make their company better through current advancements in technology. Ross Technologies also wants to show that our mission statement represents our basic purpose and our scope of operation (Anabolism & Manure, 2012, peg 564). Vision Statement Each company needs to have a vision, and Ross Technologies is no different. The vision should represent “the long term desired direction and the strategic intent of our company ‘ (Anabolism & Manure, 2012, peg 563).

    By having a vision statement, the employees are able to partake in shared benefits and understand that they are making a commitment together to the accomplishment of the organization’s vision and mission’s activities, goals, targets, and objectives Anabolism & Manure, 201 2, peg 565). The vision statement for Ross Technologies reads as follows: By using innovation and motivation to benefit our customers with the best services available to help them succeed, we aim to improve all areas of business and commerce.

    This vision statement was designed with a few factors in mind, such as it being practical and plausible as well as communicative (Johnston. Com). The reader should easily understand the statement and should be flexible and responsive to change (Johnston. Com). This statement will serve as a guide to how the employees should behave and operate, while being consistent with the hilltop’s of the organization (Johnston. Com). Furthermore, it will challenged and inspire the organization to accomplish its goals (Johnston. Com).

    Key Objectives Aside from implementing the mission statement and the vision statement, a company needs to have objectives and goals set in order to be successful and to have a direction in which to go into. The objectives need to be clear and concise, and stay consistent Oases, 2005, peg 34). The objectives will surround how the organization is going to function in regards to operational, financial, and human resources aspects. The operational objectives will function as benchmarks that are evaluated on a regular basis to implement larger strategic objectives (M Petrify and Media).

    Strategic management. (2018, May 26). Retrieved from https://graduateway.com/strategic-management-essay-sample/

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