TJG Case Analysis

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Recommended: 5 mission and vision statement words

3 Strategic vision, mission and core values The first stage in the strategic management process, is determining the long term strategic direction for the company (the vision), the purpose of the company (the mission) and core values for employees to portray to achieve long term growth and a sustainable competitive advantage (Thompson et al. 2016). This section assesses the appropriateness of the vision, mission statement and statement of values for TJG and suggests potential improvements. 3.1 Vision statement A strategic vision should articulate the future direction management aspires the company to head and map an appropriate path to follow that is clear for all stakeholders (employees, customers, shareholders, suppliers) to ensure everyone …show more content…

This vision statement is no longer appropriate for the company since the acquisition of Smiggle in 2007. Smiggle one of TJG’s key growth brands specialises in children’s stationary, hence does not fit the ‘apparel’ component of the vision statement. It is also currently trading in Australia, New Zealand, United Kingdom and Singapore with plans to launch in Malaysia and Hong Kong, therefore the ‘Australasia’ component is also outdated. The vision statement has not been revised in light of new opportunities. Therefore it is recommended for TJG management to reinvigorate the vision statement so that it is more relevant for where the company is headed in the future. The vision statement should paint a clear picture of where the company wants to head and describe the strategic course to get there making sure that the journey is feasible. It should be memorable, focused, forward looking and utilise language that allows flexibility for any changes in the directional course (Thompson et al. 2016). As such, a revised vision statement for TJG could …show more content…

Over 90% of the product range is designed, sourced and sold under its own brands. There is a continuing investment in these brands to ensure they remain relevant to changing customer tastes and remain at the forefront of their respective target markets. It is recommended that TJG management create a formal mission statement that is communicated effectively to stakeholders. 3.3 Statement of values A company’s values represent the expected behaviours, traits and beliefs of all employees in conducting business for the company in pursuit of the company’s strategic vision and mission (Thompson et al.

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