Assignment # 1 (Blackberry)

BADM 204 – Assignment #1 – Evaluating a Canadian Company’s Vision, Mission and Objectives

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BADM 204 - STRATEGIC MANAGEMENT

Assignment # 1 (Done individually) Value: 10% of final grade

Evaluation of a company’s Vision, Mission and Strategic Goals/Objectives.

From the internet, or any other source, find a Canadian company with a published Vision Statement, Mission Statement and set of Corporate or high-level goals. Note…your company must have all three, vision, mission and goals. This might take some searching, and it also might be that the company has the three elements, but have called them by different names. It is the elements we are looking for so it is OK if they have used different terms (objectives, goals, initiatives) Prepare a critique of each of the Vision, Mission and Goals in terms of whether or not the statements meet the criteria identified in the book. In cases where the statements don’t meet the criteria, make a brief recommendation as to what the company should do next. There is a sign-up sheet on Moodle that is in a Wiki. Each student should pick a different Canadian Company. Once the Canadian company is chosen, no other student will be allowed to evaluate this company. Since I have given you a sample of Bombardier, this company cannot be used. (Maximum 3 pages, double spaced, 12pt font). Assignment #1: Tips to get a good mark.

1) Title Page - including Name, Course, Instructor

2) Page numbers on every page.

3) Clear analysis of the Vision, Mission and Goals - Table format is a great idea for this.

3) References/Bibliography

BADM 204 – Assignment #1 – Evaluating a Canadian Company’s Vision, Mission and Objectives

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A. Vision Statement: Here are some tips on how to evaluate a Vision Statement. Wording a Vision Statement—the Dos and Don’ts The Dos The Don’ts

Be graphic Don’t be vague or incomplete

Be forward-looking and directional Don’t dwell on the present

Keep it focused Don’t use overly broad language

Have some wiggle room Don’t state the vision in bland or uninspiring terms

Be sure the journey is feasible Don’t be generic

Indicate why the directional path makes good business sense Don’t rely on superlatives only

Make it memorable Don’t run on and on

Please include Effective Elements and Shortcomings

BADM 204 – Assignment #1 – Evaluating a Canadian Company’s Vision, Mission and Objectives

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Here is a sample of how to evaluate Bombardier

Vision Statement – Bombardier “We look far ahead to see and shape the future of mobility. Our goal is to continuously find better ways to bridge distances and bring people together. Across cities, countries and the globe. This is our passion.”

Rating: 5 = Very strong 4= Strong 3 = Adequate 2 = Weak 1 = Very weak

Bombardier Inc. Comments Rating

X/5

Graphic Uses graphic terms like future, bridge, and globe; however, they are not strong terms to produce picture in the mind.

3/5

Forward looking and directional Very strong with terms like far and future. Furthermore, statement emphasizes direction by stressing company’s goal to “find better ways to bridge distances and bring people together”

5/5

Focused Statement is very focused by underlining the issue of always looking forward to allow people better access to other people, places, and destinations

5/5

Wiggle room There is space to add other comments, but if the comment is not geared towards the future, it may change the objective of the vision.

3/5

Feasible Journey Bombardier is recognized to be an innovative company. Stating to look into future developments and technology for the transportation sector is definitely feasible for them.

5/5

Explains why direction makes good business sense

They state they want to bridge the gap in distance and bring people together. This indicates that they want to innovate new products, services, and technology.

5/5

Memorable It has memorable aspects to it. For example, “shaping the future of mobility” or “”ways to bridge distances”

4/5

Weaknesses The term mobility can be confusing to some. Also, the first and last sentence is not necessary. Improved vision statement – Introduce innovative ways to bridge distances and bring people together from across cities, countries and the globe.

BADM 204 – Assignment #1 – Evaluating a Canadian Company’s Vision, Mission and Objectives

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Vision Statement for Walmart

Saving People Money So They Can Live Better

Effective Elements Shortcomings

• Focused • Memorable • Feasible • Makes good business sense

• Dwells on the present

B. The Mission Statement:

● Uses specific language to give the firm its own unique identity. ● Describes the firm’s current business and purpose—―who we are, what we do, and why we are here.‖ ● Should focus on describing the company’s business, not on ―making a profit‖—earning a profit is an objective not a

mission.

The Ideal Mission Statement:

♦ Identifies the firm’s product or services. ♦ Specifies the buyer needs it seeks to satisfy. ♦ Identifies the customer groups or markets it is endeavoring to serve. ♦ Specifies its approach to pleasing customers. ♦ Sets the firm apart from its rivals. ♦ Clarifies the firm’s business to stakeholders.

BADM 204 – Assignment #1 – Evaluating a Canadian Company’s Vision, Mission and Objectives

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Promise Statement – Bombardier “The evolution of mobility is our brand promise. A promise to everyone.”

The Evolution of Mobility is about creating better ways to move the world. Transforming how millions of people get around every day, by train and by plane. We take the lead, and we deliver. We’re mobilizing the future in more than 60 different countries. Investing in communities around the globe to break new ground. After all, The Evolution of Mobility is all about what’s next.

Bombardier Inc. Comments Rating X/5

Who we are Throughout the statement, there are key terms that highlight who Bombardier is. These terms include evolution of mobility, train and by plane, mobilizing the future, and what’s next. The statement explains that Bombardier is an innovative leader in the transportation industry.

5/5

What we do

The promise statement illustrates Bombardier as an innovative and technologically advanced transportation company. The statement demonstrates what they do by stating that they “create better ways to move the world”, and that “we take the lead, and we deliver”. Furthermore, they prove their worth by stating the amount of countries invested in their business.

5/5

Why we are here

Bombardier wants the reader to know that they are the ones who bring new products and technology to the transportation industry. They state that the “evolution of mobility is their brand promise” and then end with “the evolution of mobility is all about what’s next”. They are insinuating that they are “here” to be a global leader in transportation technology.

5/5

I would not change Bombardier’s Promise (mission) statement.

BADM 204 – Assignment #1 – Evaluating a Canadian Company’s Vision, Mission and Objectives

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Strategy –

Invest in Leading Mobility Solutions: Over our 70 year history, Bombardier has built an extensive and diverse portfolio of category-defining mobility solutions that set us apart from our competitors. In the face of evolving customer requirements and notwithstanding challenging economic climate, we continue to invest in our business to further improve our position in the marketplace and ensure our continued competitive differentiation.

Grow Local Roots in Key Markets: While we continue to deepen our roots in traditional markets, we expect a significant portion of new aircraft and rail transportation delivery demand to come from non-traditional markets over the next 20 years. By strengthening and expanding our global presence we have the opportunity to capture new business, optimize our cost structure and strengthen Bombardier’s global leadership and competitiveness.

Achieve Flawless Execution Every Step of the Way: We have the right ingredients in place – with mobility solutions that get better each year, incorporating the latest technologies to maximize performance and sustainability. But when you combine the growing complexity of our products with increasingly diverse customer demands, it makes flawless execution all the more challenging. We must have the right systems in place to rise to this challenge, delivering products on time without compromising quality and safety and doing so in a way that respects our employees and preserves the environment.

Objectives – S.M.A.R.T

Comments Rating X/5

Specific

The strategies answer who, what, where, when, why, and how; however, not in a concise manner. They present 3 strategies with each one receiving a lengthy note. Within the note an individual can find specifics. People may not read the notes, so the presentation is not an effective way to communicate strategies. Bullet points would be more effective.

2/5

Measurable The plan is to deepen roots in traditional markets and create demand in new markets over the next 20 years. There are no other measurable criteria. Measurable questions like how much or how many are not answered. These questions are key when outlying a strategy.

1/5

Attainable The 3 key strategies outlined are attainable. Bombardier is a company with the ability, attitude, and skill to execute the objectives. Furthermore, each strategy is outlined with an explanation of how they plan to attain each objective. However, it does require a bit of reading.

4/5

Realistic Bombardier has developed a reputation to produce cutting edge innovation and technology in the transportation industry. The strategies illustrate how the company will continue to be a leader in its divisions and they’ve given

4/5

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themselves 20 years to accomplish the goals. Timely The objectives presented are expected to be accomplished in a 20 year timeframe. That’s fine for a long-term

strategy in their industry; however, they need to present stakeholders with short term goals. 2/5