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product/service to satisfy needs Mission Customer Orientation An Effective Mission Statement 22 Copyright 2023 Prentice Hall ? Affects development of vision mission ? Responsibilities to – ? Consumers ? Environmentalists ? Minorities ? Communities Social Policy Mission Managerial philosophy shapes social policy 23 Copyright 2023 Prentice Hall Social Policy Mission Social policy should be integrated in all strategicmanagement activities Mission should convey the social responsibility of the firm 24 Copyright 2023 Prentice Hall Mission Statements 1. Fannie Mae 2. Proctor Gamble 3. Intel Corporation 4. St. Paul Companies 5. Green Mtn. Coffee 6. Deere Company 2023 Rated Best in Social Responsibility 7. Avon Products, Inc. 8. HewlettPackard Co. 9. Agilent Technologies , Inc. Corp 25 Copyright 2023 Prentice Hall ? 2x average return on shareholder’s equity ? Positive relationship to pany performance ? 30% higher return on certain financial measures Vision Mission Research results are mixed, however, firms with formal mission statements generally see a: 26 Copyright 2023 Prentice Hall Mission Elements Customers Markets Employees Public Image SelfConcept Philosophy Survival Growth Profit Products Services Technology 27 Copyrigh