Creating a Vision Statement, Mission Statement, and Core Values

Management Team Case Project

Exercise 3A

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Creating a Vision Statement, Mission Statement, and Core Values

 

There are many reasons entrepreneurs have for creating a new business.  Some are personal and done in self-interest.  In other cases, entrepreneurs use their talents, interests, and resources to develop a business that meaningfully contributes to addressing important societal needs.

Now that you and your team have decided on a business concept and a Customer Value Proposition, you next task is to create a Vision Statement, Mission Statement, and a set of Core Values for your new business.

Vision statements are aspirational and describe the reasons for this business to exist, what it hopes to contribute to the betterment of society.  Vision statements are generally brief.

A Mission Statement describes the target customers the business is serving, which customer requirements it intends to fulfill, with what products and/or services, and how it intends to do that better than its competitors.

An organization’s Core Values describes the ways in which the organization will conducts its business activities in order to address the needs and concerns of its multiple stakeholders (customers, employees, communities, shareholders/ investors, suppliers, business partners, etc.) in an ethical and socially responsible way.

 

 

 

Individual Activity for Exercise 3A

 

Your task in this exercise is to draft each of the 3 statements (Vision, Mission, and Core Values) for review and discussion with your team during this week’s team discussion workshop.  To prepare for this, you are encouraged to research examples of well-written Vision, Mission, and Core Values statements and refer to your textbook and/or lectures on how to prepare these types of statements.

Complete the draft of each of your statements on the following three pages.

 

 

Vision Statement

Exercise 3A.1 – Individual Worksheet (Submit)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mission Statement

Exercise 3A.2 – Individual Worksheet (Submit)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Core Values

Exercise 3A.3 – Individual Worksheet (Submit)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Management Team Case Project

Exercise 3B

Business Name and Logo

 

For many businesses it is important to create the right image for the organization. This includes having a name and logo for the organization that captures the sort of image the company wishes to convey to its stakeholders.

 

Individual Activity for Exercise 3B

 

Your task in this exercise is to propose a name for your business, create a logo, and select a domain name for your website.

First, come up with 3 possible names for the business and insert them below:

Exercise 3B.1 – Individual Worksheet (Submit)

 

 

 

 

 

 

 

On the next page, create a proposed logo for your business.  A great place to create a logo is at http://canva.comYou can also hand draw your logo, use drawing tools, or use images you capture from the internet.

 

 

 

Business Logo

Exercise 3B.2 – Individual Worksheet (Submit)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Finally, select a domain name for your business that you will use for your website.  Do some research on the internet about what is involved in setting up a domain name.  Once you know a little more about this process, select the domain name you would like to use for your business (you don’t need to actually register it online).

 

Domain Name

Exercise 3B.3 – Individual Worksheet (Submit)

 

 

 

 

 

 

 

 

 

 

 

 

 

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