Evaluating Vision and Mission Statements at PepsiCo †Free Samples

Questions: 1.How do the mission and vision statements relate to the eight characteristics of an ideal mission statement and vision statement? What are the gaps? 2.How useful are the mission and vision statements of the PepsiCo in linking organizational priorities with individual and team performance? Answers: Key characteristics of ideal mission and vision statement of PepsiCo Characteristics Yes/No Mission statement Basic product and service to be offered Yes Primary markets No Unique benefits, Features and advantage No Technology to be used No Fundamental concerns Yes Managerial philosophy of the firms Yes Public image sought out No Self-concept of business adopted Yes Brief-so that the employees can remember it Yes Verifiable No Bound by timeline No Current-updated by ongoing basis No Vision statement Focused-lists a few aspects of organisations performances Yes Understandable Yes Inspiring Yes Stretch No 1. An ideal mission and vision statements have some of the general principles. The mission statement must be succinct that can preferably brief to describe the target of the organisation (King, Case Premo, 2014). The mission statement should be memorable as the organisation is able to remember the key elements. Mission statement needs to inspire the employees and stakeholders of the organisation as the unique set of words focusing on different sides of the organisation. The organisation needs to make the mission statement a realistic one so that the description must be presented centric and it resembles the aim of the organisation. The mission statement is the description of the present and it does not highlight the vision of the future (Efe Ozer, 2015). One of the important factors of the mission statement is to highlight the current factors of the environment. The priorities of the organisation should be highlighted through this. Organisations priorities can change with time and this needs to be focused on the current mission of the organisation. The vision statement of an organisation needs to be feasible and precise. It is completely future-centric that leads to actions of the organisation (Drezner, 2017). The vision statement must be motivating and it should be distinctive. The vision statement should highlight objectives of the organisation with components of the organisational strategy. A mission and vision statement must confirm the principles that an idea mission and vision statements have. There is no guarantee that themanagement can highlight all the elements of a mission statement; however, how it is well-worded. Mission statement needs to increase the value of the organisation along with the vision it formulates, communicates and disseminates (Kopaneva Sias, 2015). 2. The mission statement of PepsiCo mainly focuses on consumers around the globe, affordability, convenience, products and financial rewards to employees and investors. Long-term sustainable growth is another factor of the organisation that shows the organisation targets the all types of consumers across the world, not any specific target customer group. PepsiCo wants to make such products that can be applied to all types of customers not just the one group of the irrespective of culture, background and variable (PepsiCo.com, 2018). The affordability is the significance of pricing and the word' premier describes the standard quality beverage items offered by the company. The partnership with the employees and investors signify the community partnership and stakeholders' engagement with the organisation. Core values of the organisation are integrity, honesty and fairness to all. The vision statement of the organisation implies majorly top financial performance, sustainability and corporate social responsibilities. The main focus of the organisation is on the corporate stewardship and triple bottom line of the CSR. PepsiCo is aiming towards the basic business expectation of financial stability, environmental sustainability and stakeholders' preferences. The Three P's' factors of the organisation can enhance the brand image of the organisation (Kopaneva Sias, 2015). The major influences have been given to the corporate policies and organisational development towards sustainability. References Drezner, N. D. (2017). Philanthropy Education: Setting the Mission and Vision for a New Journal within the Landscape of Our Field.Philanthropy Education,1(1), v-xii. Efe, I., Ozer, O. (2015). A corpus-based discourse analysis of the vision and mission statements of universities in Turkey.Higher Education Research Development,34(6), 1110-1122. King, D. L., Case, C. J., Premo, K. M. (2014). Does company size affect mission statement content?.Academy ofStrategic Management Journal,13(1), 21. Kopaneva, I., Sias, P. M. (2015). Lost in translation: Employee and organizational constructions of mission and vision.Management Communication Quarterly,29(3), 358-384. What We Believe - PepsiCo.com. (2018). Pepsico.com. Retrieved 2 March 2018, from https://www.pepsico.com/sustainability