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Strategic Management Ginni Nijhawan, Lovely Professional University

Notes Unit 3: Defining Mission, Goals and Objectives

CONTENTS
Objectives

Introduction
3.1 Defining Mission

3.2 Importance of Mission Statement
3.3 Characteristics of a Mission Statement

3.4 Components of a Mission Statement
3.5 Formulation of Mission Statements

3.6 Evaluating Mission Statements
3.7 Distinction between Vision and Mission

3.8 Concept of Goals and Objectives
3.8.1 Goals

3.8.2 Objectives
3.9 Summary

3.10 Keywords
3.11 Self Assessment

3.12 Review Questions
3.13 Further Readings

Objectives

After studying this unit, you will be able to:
Define mission

State the importance, characteristics and components of mission
Evaluate mission statements
Explain the concept of goals and objectives

32 LOVELY PROFESSIONAL UNIVERSITY