Chapter 2 Review and Applications

2.1

How can a new company best define its business mission statement? Can you find examples of good and bad mission statements on the internet? How might you improve the bad ones?

A new company needs to define what business they are in and describe the benefits that the consumers seek. The statement needs to focus on the market rather than a specific good or service as that may change. The following is a succinct mission statement for 3M in Nebraska. Though it is short and sweet it is very vague.

Mission StatementIt is the mission of 3M Valley to provide a safe, efficient, and innovative manufacturing environment, providing quality products and services that exceed customer expectations while encouraging employee participation and growth.
A good mission statement I found is for Medtronic.

To contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life.
To direct our growth in the areas of biomedical engineering where we display maximum strength and ability; to gather people and facilities that tend to augment these areas; to continuously build on these areas through education and knowledge assimilation; to avoid participation in areas where we cannot make unique and worthy contributions.
To strive without reserve for the greatest possible reliability and quality in our products; to be the unsurpassed standard of comparison and to be recognized as a company of dedication, honesty, integrity, and service.
To make a fair profit on current operations to meet our obligations, sustain our growth, and reach our goals.
To recognize the personal worth of employees by providing an employment framework that allows personal satisfaction in work accomplished, security, advancement opportunity, and means to share in the company's success.
To maintain good citizenship as a company.
Like the Ben & Jerry’s statement this encompasses many aspects of the company and provides a clear understanding about Medtronic.


4.1

Competition in the private courier sector is fierce. UPS and FedEx dominate, but other companies such as DHL and even the United States Postal Service (USPS), still have a decent chunk of the express package delivery market. Perform a mini-situation analysis on one of the companies listed below by stating one strength, one weakness, one opportunity, and one threat.

DHL:

Strength: Focused, specialized services, not too complicated.
Weakness: Lack of variety with services. Too focused. Name not as well known.
Opportunity: Expand products/services.
Threat: Costs. Are they competing well with others who specialize in the same area. Larger companies could take over the portion that DHL has. Limited amount of drop off areas.