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A study of a shared vision at a travel agency

A study of a shared vision at a travel agency

Abstract

The importance of vision and mission statements is well documented. An increasing number of authors argue that strategies in an organisation have a major impact on its performance relative to its peers (Hill & Jones, 2001:4; Thompson & Strickland, 1996:2). Raric and Vitton found that organisations with a formalised mission statement have double the average return on shareholders’ equity than those organisations without formalised mission statements. However, the extent of manager and employee involvement in developing vision and mission statements can make a difference in business success (David, 2001:57). Most organisations develop both a mission and a vision statement. There is a subtle difference between the two that should not be confused, this will be qualified in this study. The purpose of such statements is, among others, to give the customer and other stakeholders an overview of the identity of the organisation in terms of who they are, what they do and where they are headed (Thompson & Strickland, 1996:22). It implies a formal commitment by the organisation to its stakeholders, sending out the message that its strategies will be formulated with the claims of its stakeholders in mind (Hill & Jones, 2001:45). It is often found that these expectations are not realised. The customer is frequently left with the perception that employees are unaware of the key values and the overall direction the organisation is taking. This study will focus on Flight Centre Limited (South Africa) to determine the extent of commitment of employees to the strategic vision of the organisation. Mr. T.F.J. Oosthuizen

Country
South Africa
Related Organizations
Keywords

Mission statements, Strategic planning, Flight Centre Limited (Firm: South Africa)

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
Green