The importance of a vision and mission for small, medium-sized and large businesses
South African Journal of Economic and Management Sciences
| Field | Value | |
| Title | The importance of a vision and mission for small, medium-sized and large businesses | |
| Creator | van der Walt, JL Kroon, J Fourie, BJ | |
| Description | Although the vision and mission are important to the strategic planning of a business and much time and effort are spent on their formulation, they arent used as planning instruments. The purpose of this paper was to determine whether management understands the vision and mission as complementary concepts and whether they use them effectively in the planning process. This study was conducted by sending questionnaires to businesses in the Gauteng Province where most SMEs in South Africa are situated. Findings confirmed that the majority of businesses, especially small businesses, can distinguish between and have visions and missions, but do not apply them optimally in strategy implementation. Recommendations include that businesses should have a written vision and mission statement, which should be communicated effectively and applied in planning and strategy implementation. | |
| Publisher | AOSIS Publishing | |
| Date | 2004-04-28 | |
| Identifier | 10.4102/sajems.v7i2.1373 | |
| Source | South African Journal of Economic and Management Sciences; Vol 7, No 2 (2004); 206-220 2222-3436 1015-8812 | |
| Language | eng | |
| Relation |
The following web links (URLs) may trigger a file download or direct you to an alternative webpage to gain access to a publication file format of the published article:
https://sajems.org/index.php/sajems/article/view/1373/533
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