New PDF release: Bloomberg BusinessWeek: January 3rd - 9th 2011

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Extra info for Bloomberg BusinessWeek: January 3rd - 9th 2011

Sample text

The first is that even a for-profit firm may have been established with a social goal as an explicit objective. Shareholders may have invested (and continue to invest) knowing that they are sacrificing some monetary gain in exchange for progress on the social objective. Patagonia, for example, is a California-based company devoted to producing outdoor hiking, climbing, and camping equipment that is environmentally friendly. The company’s devotion to the environment may well make it a less profitable enterprise, since it devotes resources to activities that other companies without those concerns might not.

Integrity: We are committed as an organization to acting with integrity and character. When faced with moral choices, we will do the right thing. We will bring professionalism and proper business conduct to everything we do. Above all, we are dedicated to being a company with integrity. FIGURE 2-3 Charter, Mission, and Values Statement of Sunrise Medical The statement of company values is usually even less like a strategy. Some are simply a list of unexceptional virtues (integrity, customer service, treating employees well, and so forth).

Could a firm, for example, state that it believes in treating employees badly or in providing shoddy service? Other statements have less routine 26 CHAPTER 2 • BUSINESS STRATEGY “[Our] mission is to be the best provider of entertainment options that meet consumer needs. We will accomplish this by: 1. Understanding the entertainment interests of the consumer better than anyone else. 2. Delivering unique products with the highest level of customer service. ” FIGURE 2-4 A Mission Statement content.

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