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Analysis of Vision and Mission Statements Characteristics and their Association with Organizational Performance: A Guide to Writing Effective Vision and Mission Statements
87-95Views:4932This paper empirically examines vision and mission statements of Fortune 500 firms for the purpose of identifying and examining specific characteristics and associating these attributes with organizational performance. Additionally, this paper provides a theoretical foundation for the inclusion of various characteristics of vision and mission documents, and thus provides guidance for organizations to develop and revise these important strategic planning documents.
JEL CODE: M21, O21
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Emerging trends in strategic planning
23-31Views:1107In today’s rapidly changing world, there is an increased need for excellent strategic planning. A firm’s survival may indeed hinge on the firm’s planning process being exemplary. Various aspects of the strategic planning process are under review today as organizations wrestle to compete more effectively. This paper reveals and describes five emerging trends or tools being utilized today by firms to more effectively engage in strategic planning. Specifically, the emerging trends and tools to be discussed in this paper are as follows:
1) Assure vision and mission statements include desired characteristics
2) Perform SWOT (Strengths-Weaknesses-Opportunities-Threats) analysis using AQCD (Actionable, Quantitative, Comparative, and Divisional) factors
3) Utilize varied sources to obtain AQCD information
4) Utilize QSPM (Quantitative Strategic Planning Matrix) analysis to determine the relative attractiveness of alternative strategies
5) Use excel-based software to facilitate and enhance the strategic planning process.
The purpose of this paper is to familiarize readers with basic new tools and techniques being used by organizations to effectively develop an improved strategic plan for the firm.
JEL Code: M21, O21
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Opportunities and obstacles of areabased partnerships in rural Hungary – main features of the operations of leader local action groups based on a nationwide survey
109-117Views:189Based on the results of our questionnaire survey, our study presents the major operational features of LEADER LAGs established in Hungary in the second half of 2007. Our national survey indicated that most of the partnerships established do not have experience in the implementation of community-based rural development programmes and there are no traditions and practices for development cooperation, which may cause problems as the success of programme implementation highly depends on the preparedness of local society, on the cooperation of local people. The survey indicates that the development of areas covered by LAGs is hindered by so-called soft factors characterizing human resources (rural people and communities). Therefore human resources are not only factors of the rural economy but areas for development as well. Having examined the tasks of LAGs,it can be established that they deem it to be their principal task to grant support funds.Inouropinion, performance of this task is obviously necessary but far from sufficient to fulfil their catalyst role expected in local developments. For this purpose, it is essential for action groups to play a proactive role in organizing and thereby increase the capacity of local communities, a prerequisite for implementing a LEADER programme. In accordance with the basic principle of subsidiarity, rural development should be implemented locally, managed by local communities, and decisions should be made at local levels in a decentralized manner. At the same time, the survey points out that LAGs operate under strong government influence and control, leading to the conclusion that the Hungarian practice of the LEADER programme is characterized by decentralization without subsidiarity. In the present structure, the activities of LAGs are predominantly financed from central resources.Administration is the primary goal of their financing, which restricts their effective and efficient operations, thereby the successful implementation of the LEADER programme. It is unquestionable that LAGs need to be centrally financed since their operation is fundamental for programme implementation, but this requires more than acting in their present role of distributing resources. In order for action groups to fulfil their real roles to boost local developments, they need to recognize their mission; and from the financing and regulatory side, they must be enabled to complete the tasks expected from them and their function.
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Perspectives for development social entrepreneurship in republic of Moldova
21-29Views:179Social entrepreneurship, as a field for research and scientific disputes between scholars and practitioners, it still remains a novel investigation area, as far as new opportunities, challenges, business approaches and concepts appear into the modern world and competitive market. This paper puts emphasis on social framework behind the development of social businesses in Moldova. Moreover, it presents the grass-root state of readiness of existing small and medium – sized enterprises from Moldova to undertake the leap towards the new kind of economy and different organizational approaches. The paper provides a content analysis of specific literature on social entrepreneurship, with particular emphasis on general perception of the small holders and small and medium – sized enterprises on social business. A total number of 593 small and medium – sized enterprises and individuals participated to organized interviews. The survey results show that 66% of the respondents are not acknowledged with social entrepreneurship concept and functionality. From those (34%) who are informed about the topic, most of them are actual young entrepreneurs. Additionally, young entrepreneurs, respondents, wouldn’t reinvest their profit for social mission (73%). Unlike young entrepreneurs, individuals would reinvest their profit in social missions, in case they have a business. These findings suggest that, in the society there is a lack of general understanding on social entrepreneurship. The author also found out that, the general perception regarding social problems is mostly assigned to public authorities instead of enterprises. Moreover, the research results show that the absence of a clear mechanism which would raise public awareness regarding social problems and social capital, affects the active implication of community stakeholders into the societal problems.
JEL code: M140
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