1-3?

CASE STUDY 3-1 Evaluating Vision and Mission Statements at PepsiCo shareholder value by making PepsiCo a truly sustainable company. Consider the mission and vision statements for PepsiCo (http:// www.pepsico.com/Company.html) and then answer the ques- tions included below. PepsiCo's Mission Statement Our mission is to be the world's premier con- sumer products company focused on conven- ient foods and beverages. We seek to produce financial rewards to investors as we provide opportunities for growth and enrichment to our employees, our business partners and the communities in which we operate. And in everything we do, we strive for honesty, fair- ness and integrity. 1. The table below summarizes the key characteristics ideal mission and vision statements as discussed in Chapter 3. Use the Y/N columns in the table to in cate whether each of the features is present, or not, in the mission and vision statements of PepsiCo. 2. How do the mission and vision statements relate to the eight characteristics of an ideal mission statement and the eight characteristics of an ideal vision state- ment? What are the gaps? PepsiCo's Vision Statement "PepsiCo's responsibility is to continually improve all aspects of the world in which we operate-environment, social, economic- creating a better tomorrow than today." Our vi- sion is put into action through programs and a focus on environmental stewardship, activities to benefit society, and a commitment to build 3. How useful are the mission and vision statements of PepsiCo in terms of linking organizational priorities with individual and team performance? In creating such a linkage, which ideal mission/vision statement characteristics (shown in the table above) seem to be more important than others? What other places might the HR department at PepsiCo look for infor mation regarding how to more effectively cascade firm-level strategy to each individual's goals? Chapter 3. Performance Management and Strategic Planning 83 Y/N Characteristics Basic productservice to be offered (does what Primary markets or customer groups to be served (to whom) Unique benefits, features, and advantages of products/services (with what benefits) Mission statement-Summarizes the organization's most important reason for its existence Technology to be used in production or delivery Fundamental concern for survival through growth and profitability Managerial philosophy of the firm Public image sought by organization Self-concept of business adopted by employees and stockholders Brief-s that employees can remember it Verifiable able to stand the reality test Bound by a timeline-specifies a timeline for fulfillment of the various aspirations Current---updated on an ongoing basis Vision Statement of future aspirations Focused-lists a few (3-4) aspects of organization's performance that are important to future success Understandable written in a clear and straightforward manner so that they are understood by all employees Inspiring-makes employees feel good about their organization's direction and motivates them to help achieve the vision Stretch-goal not easily attained siCo. (2011) Our Mission and Vision. Retrieved March 3, 2011 from: http://www.pepsico.com/Company/ Mission-and-Vision.html 2011, PepsiCo, Inc. Used with permission