“Devon Energy is a results oriented oil and gas company that builds value for its shareholders through its employees by creating an atmosphere of optimism, teamwork, creativity, resourcefulness, and by dealing with everyone in an open and ethical manner.”
The above mission statement is from a Devon Energy Corporation, an Oklahoma energy company. A mission statement is an overview of the company that briefly explains what values and goals they have. This mission statement has many parts to it; when you break it down and look at it in pieces you get a better idea of what the company is really about. Breaking it down the main points that stand out are: being results oriented, building value for shareholders through employees, the atmosphere they
…show more content…
It also means they have some type of goal; there is something that they want to fix, change, or achieve. They are unclear of what they want their results to be, but it is clear that they want to do something to create results. This might create a high stress environment on the employees, if they are only concerned with results and nothing else. Employees could feel too much pressure to get results and be too concerned with only getting results that they work themselves too hard and stress themselves out. This could also mean that they don’t care how they get their results as long as they get them which could lead to employees doing unethical things in order to get the results the company is focused on. On the other hand this could also be a way for creative thinking to flourish. The company is concerned with the end result not how you get there so employees are free to think outside the box to get the results the company needs. This could mean that the management style is hands off; they let you do what you think will get the job done. If you continue through the mission statement, it becomes clearer that they are concerned about their employees which would suggest that they are more towards the creative thinking environment instead of the stress filled …show more content…
They create this environment by dealing with everyone in an open and ethical manner. This system most likely helps them streamline their problems and deal with them quickly and efficiently. This also seems to be a relatively stress free environment that they wish to create which will help with productivity and longevity of employees. The less stress an employee’s feels the better they will perform. By dealing with situations openly and ethically they handle the situations at hand as soon as they happen and in the proper way. This part of the mission statement also feels a little cookie cutter, they just picked words that made the company sound good and through them together to describe an ideal work environment. They are very basic and generic terms that almost any company could use to describe their work environment. While it does look as if they picked
Both, vision and mission statements provide purpose to organizations. Therefore, they should set the foundation for the strategic planning process. However, if and organizations strategic direction evolves, leaders should consider revising the organization’s mission and vision
1. How was Lincoln able to grow and prosper for so long in such a difficult commodity industry that forced out other giants such as General Electric, Westinghouse and BOC? What is the source of Lincoln’s outstanding and enduring success?
This Company made their mission statement in 2012 and according to me this mission and vision statement is good but these need loads of changes as I have read in this course mission statement should be:-
...esponsibly towards all its stakeholders. We believe that creating value for all our stakeholders is the only sustainable way for us to thrive as an independent, family-owned company. In our new framework and strategy for sustainability and responsibility we aim to integrate this mindset even further into the core operating model of the company (Welcome).”
Along that same line, mission statements, when used properly and used to its maximum potential for the organization, can reorient us to what we’re supposed to be doing and, if we’re willing, it can show us where we need to
Mission and Vision Statements The mission statement of JPMorgan Chase & Co is “to be the best financial services company in the world” ("JPMorgan," 2013). According to its website, it states, “At JPMorgan Chase & Co, we want to be the best financial services company in the world. Because of our great heritage and excellent platform, we believe this is within our reach” is the company’s vision statement ("JPMorgan," 2013). This vision statement effectively communicates JPMorgan Chase & Co values, purpose, identity, and primary business goals.
ExxonMobil is a multinational oil and gas company with its headquarters offices in Irving, Texas. It was formed in 1999 through a definitive agreement between Exxon Corporation and Mobil Oil Corporation to merge and create a new company. In essence, the corporation produces, distributes and sells oil and natural gas across the world. The structure and culture help it survive the price burst which often occurs in the global oil market. Notably, among its largest competitors, ExxonMobil generates high revenue and produces large volumes of oil for every penny it spends. Besides, the company publicizes the highest price of natural gas and oil, both in absolute terms and for every employee it hires. Significantly, even in good years, the top managers
After observing the signs of the organizational culture as a customer and having a family as part of their team as well, I can describe the company. Darden’s mission statement is written for customers and employees of the corporation.
The current mission, vision, and value statements are written very broadly to provide the five divisions within the company with an overall direction and strategy. Each division then interprets the strategy and goals to develop operational processes, procedures, tactics and plans to implement and achieve those goals.
The mission statement of the company was “As we grow as a company, it has become more and more important to explicitly define the core values from which we develop our culture, our bran...
The oil & gas industry is among the largest industries in the world. The sector generates large revenues and employs a large number of people in order to meet the worldwide demand for energy.
In other words, strategic objectives differ from goals/visions in terms of feasibility, practicality, and ultimately implementation. This theme makes its way into essentially every portion of the book, as it is vital to strategy. Often times, strategic planning and strategic thinking is thought to be any action performed by upper management. Rumelt debunks this myth and inserts that these executives are motivating and energizing their employees at best through vague visions and mission statements. Instead, upper-level management should actually focus on opportunities and detail orientated actions to avoid bad strategy. The same logic can be applied to hopeful wishes (over ambitious goals). These goals contain a great deal of uncertainty, as they lack a level of reality and planning. In fact, good strategy should be based off of an educated guess, even if that means you take a stance on an uncertain issue. Rumelt explains, “A new strategy is, in the language of science, a hypothesis, and its implementation is an experiment. As results appear, good leaders learn more about what does and doesn’t work and adjust their strategies accordingly” (Rumelt, 2011, pg. 241). In other words, successful strategists are constantly evaluating and adjusting their original hypothesis to perfect their strategy. This hypothesis allows them to
The website states the core values and then proceeds to explain each of them in detail. It is apparent that the company gave a lot of thought to create these values as well as to how they incorporate into the overall goals of the corporation. Also, they choose to use not just the mission statement, but also examples and videos, which is a strategy they put in place to ensure that the ideas of their core values can become more ingrained into the audience. By maintaining focused goals, the organization has access to quick strategic decisions that are clear and easy to spot and makes it unlikely for them to wander from the mission
A company’s mission is just a big goal that needs to be accomplished within a certain amount time and should support the company’s overall vision. Within the organizations mission there can be smaller goals which need to be achieved to attain the mission. A mission statement will describe, “the purpose of the company, and/or what the company strives to do” by a certain time. (Hill, Jones, & Schilling, 2015). “A mission statement communicates the organization’s reason for being, and how it aims to serve its key stakeholders. Customers, employees, and investors are the stakeholders most often emphasized, but other stakeholders like government or communities (i.e., in the form of social or environmental impact) can also be discussed” (Carpenter, Bauer, & Erdogan, 2015). Mission statements are often longer and more in-depth than vision statements and are usually have a shorter time period associated with
a set of organizational goals that are used to operationalize the mission statement and that is specific and cover a well-defined time frame. The Vision organizational goal that suggested powerful and compelling mental images. Mission statement a set of organizational goals that include both the purpose of the organization, its scope of operations, and the basis of