Strategic management 2 Essay Example | Topics and Well Written Essays - 500 words

Strategic management 2 - Essay Example McDonald’s vision and goals would be studied for their efficacy in achieving its goals and objectives. McDonald’s is the largest chain of fast food restaurants that operates around 32000 outlets across the globe. Its mission and vision statements are key elements of its business strategy. McDonald’s vision statement wants it to become the best fast food outlet. The corporate vision clearly describes its future perspectives as to what it plans to achieve in long term. Its corporate strategy primarily relies on creating value through customer satisfaction and is intrinsically linked to its vision. It helps to achieve its vision by promoting strategic plans that would enhance its value and make it the best fast food restaurant. Bateman and Snell (2009) assert that organizational vision becomes the major motivation element for the workforce to excel. The corporate objectives of McDonald’s are developed so as its vision is aligned with its value through plans and actions that promote its goals and objective. The process of developing a mission statement is highly pertinent for an organization because it defines as to what and how the business intends to operate. The broad framework of mission statement provides firms with strong incentives and plans to focus on strategies that would help it to achieve its vision. The strategies encourage the firms to become flexible and evolve effective plans to meet the challenges of changing times. Mintzberg (1990) believes that businesses need to exploit the current choices to meet the transforming values and trends in the customers’ preferences. Indeed, the business objectives and mission are inherently linked to changing demands of the customers and therefore must constantly strive to be flexible. The mission statement of McDonald’s is to become the favorite place of the customers for their fast food (McDonalds, 2012). Hence,