MGT603 Strategic Management Assignment No.1 Solution Spring Semester 2013

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[SIZE="3"]MGT603 Strategic Management Assignment No.1 Solution Spring Semester 2013[/SIZE]


Background
Mission statement relates to present situation of an organization and defines purpose of
organization existence. Mission also means what we are and what we want to do. Mission
can be narrow or broad. Narrow mission statement shows that which products and services
are offered, which technology is used etc. Broad mission statement wider mission values in
terms of product and services, technologies etc. Vision statement relates to future of an
organization, it includes strategic planning for future and organization s’ inspiration. Vision
describes these questions, “where we want to be in future?” and “where we want to go?”
Scenario
Ms Nazia opened a boutique named as “En”, in 1999 in Lahore. This boutique became
highly popular in 2000. Nowadays “En” boutique has a number of outlets in the major cities
of Pakistan i.e. Islamabad, Karachi, Peshawar, Rawalpindi. Initially, the store offered
stylish eastern clothing but recently, on high public demand, western apparel has also been
introduced which is widely admired by ladies of almost all ages. Her customers are mostly
young and middle-aged ladies who are both professionals and non-professionals, but style
conscious and price sensitive.Similarly, she hopes to grow her boutique into a complete fashion store, offering items to
go with her clothes, such as bags, shoes & jewelry.
Now, Ms Nazia wants to launch her flagship store internationally e.g. UK, but she would
like to revise the mission and vision statement of her store to appeal to the highly
competitive international market.