***Attached is the resource document that will need to be used to complete this exercise. Please do not use any internet resources. Thank you***Instructions:With the selection of a new Executive Director for Infant Formula Division within Biotech, it is time for to look at how the new division will function within Biotech. There will be many factors for the Director to consider while planning the future, to include both short and long term plans. Biotech will need to begin the process of establishing a strategy for the division specifying goals and objectives to follow to succeed early in the project. However, Biotech needs to understand that nothing is possible without the proper personnel in place to see this strategy to fruition.Expert Foods Consultants has been retained to continue its partnership with Biotech working on the Infant Formula Division but instead of working with Melanie, will now assist the new Director. As the team lead, you will be traveling extensively with the new Director to the other major divisions spending time directly with the directors and getting to know their strategies for maintaining a well-oiled group while meeting the mission and vision.Getting to know Biotech’s leadership teams will be critical as well as doing so will allow the Expert Foods consultants to help with the vetting of potential leaders. The new Infant Formula Director has asked you to help identify the types of leadership qualities the organization will need to have in place to help the new division align with the mission and vision of the organization as well as Melanie’s desire for a more sustainable future by being an environmentally and human friendly company.There are several elements that result from the planning stage, one of which is the development of long-term goals. Long-term goals are set by the owners, leaders or upper management depending on the structure, size or type of organization. Long-term goals reflect the big-picture goals and objectives are directly related to the purpose and vision that the leaders and owners develop. In today’s change-dominated business environment long-term goals are set to be accomplished in 2-3 years’ time as opposed to the previous century’s 5-10 years.Long-term goals are often created through planning and strategizing. The process begins with the vision and mission of the business. To understand the concepts of vision and mission and role of each in the planning process, you will take the role of the leader and formulate the vision and mission of an organization.With the addition of a new division and, more importantly, a new product line senior leadership has determined that the current Mission and Vision statements may not be as relevant as they once were. Max has tasked you as the team lead from Expert Foods Consultants to present a more relevant Mission and Vision statement to reflect Biotech’s growing presence but also its desire to be a leader in sustainability and green products.Current Company Vision: To help provide everyone with the healthiest life possible in the most natural of ways.Current Mission: To develop products that are safe, effective, affordable and natural with the customer’s health always their primary goal.Exercise Instructions:For this exercise, you will act as the group lead from Expert Foods Consultants, assigned to Biotech’s. You will put together a preliminary document so your team can review prior to passing along to Biotech. The preliminary document is a detailed Word document or rft document that presents your ideas and explains your ideas and reasoning that will use the course material to supporting the ideas and reasoning. You will be using the course material to support your ideas.Leadership ElementsWrite one paragraph for each statement below:Define leadership and explain the difference between leading and managing. Support the reasoning with the course material.Explain what leadership styles will best fit with the new director’s style of leadership; a multi-cultural workforce; and the goal of having a sustainable, green, and human friendly product line on the forefront of innovation within the infant formula industry. Remember, to use the course material to support the ideas and reasoning. You will not be using external source materials.Mission and Vision StatementsConstruct a more relevant Mission statement and Vision statement to reflect Biotech’s growing presence but also its desire to be a leader in sustainability and green products.In a separate paragraph, explain the reasoning for the changes made to the mission statement and vision statement. Use the course material to support the reason. Do not use external source material.How to Set Up the ExerciseCreate a Word or Rich Text Format (RTF) document, which requires double spacing. Use Arial, 12-point font. You will cite within the document and provide a reference list on a separate page.Provide a title page and a reference list on a separate page.Create an introductory paragraph explaining what you had put together so your team has a clear understanding of what you have done and why you have done so.**Do not copy the question and present in a question/answer format.Submit the Exercise in the Assignment Folder (The assignment submitted to the Assignment Folder will be considered the student’s final product and therefore ready for grading by the instructor. It is incumbent upon the student to verify the assignment is the correct submission. No exceptions will be considered by the instructor).Completing the ExerciseIn order to complete this Exercise, you will want to first read the module, Learn How to Support What You Write, as this assignment requires you to use the course readings and research to support what you write. Also,Read and use the grading rubric while completing the exercise to ensure all requirements are met that will lead to the highest possible grade.Third person writing is required. Third person means that there are no words such as “I, me, my, we, or us” (first person writing), nor is there use of “you or your” (second person writing). If uncertain how to write in the third person, view this link: http://www.quickanddirtytips.com/education/grammar/first-second-and-third-person.Contractions are not used in business writing, so do not use them.Paraphrase and do not use direct quotation marks. Paraphrase means you do not use more than four consecutive words from a source document. Instead put a passage from a source document into your own words and attribute the passage to the source document. Not using direct quotation marks means that there should be no passages with quotation marks and instead the source material is paraphrased as stated above. Note that a reference within a reference list cannot exist without an associated in-text citation and vice versa. You may not use more than four consecutive words from a source document, as doing so would require direct quotation marks. Changing words from a passage does not exclude the passage from having quotation marks. If more than four consecutive words are used from source documents, this material will not be included in the grade and could lead to allegations of academic dishonesty.You are expected to use the case scenarios and weekly course material to develop the analysis and support the reasoning. There should be a robust use of the course material along with thorough analysis of potential location information. Material used from a source document must be cited and referenced. A reference within a reference list cannot exist without an associated in-text citation and vice versa. Changing words from a passage does not exclude the passage from having quotation marks. If more than four consecutive words are used from source documents, this material will not be included in the grade and could lead to allegations of academic dishonesty.Use in-text citations and provide a reference list that contains the reference associated with each in-text citation.You may not use books in completing this exercise unless part of the course material. Also, do not use a dictionary or Wikipedia.Provide the page or paragraph number in every in-text citation presented. If the eBook does not have pages, provide the chapter title and topic heading. If using a video, provide the minutes and second of the cited material.
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The Mission Statement
A mission statement defines the fundamental purpose of an organization or
enterprise.
Key Points




A mission statement’s purpose is to retain consistency in overall
strategy and to communicate core organizational goals to all
stakeholders.
The business owners and upper managers develop the mission
statement and uphold it as a standard across the organization. It
provides a strategic framework for running the organization.
In a best-case scenario, an organization conducts internal and external
assessments to ensure the mission statement is being upheld.
A mission statement contains information about the key market,
contribution, and distinction of an organization. It describes what the
organization does, why, and how it excels at what it does.
Key Terms


mission—set of tasks that fulfills a purpose or duty; an assignment set
by an employer
stakeholder—person or organization with a legitimate interest in a
given situation, action, or enterprise
A mission statement defines the purpose of a company or organization. The
mission statement guides the organization’s actions, spells out overall goals,
and guides decision making. The mission statement is generated to retain
consistency in overall strategy and to communicate core organizational goals
to all stakeholders. The business owners and upper managers develop the
mission statement and uphold it as a standard across the organization. It
provides a strategic framework the organization is expected to abide by.
Mission Statement
An example of a mission statement, which includes the organization’s aims
and stakeholders, and how it provides value to these stakeholders.
In a best-case scenario, an organization conducts internal and external
assessments relative to the mission statement. The internal assessment
should focus on how members inside the organization interpret the mission
statement. The external assessment, which includes the business’s
stakeholders, is also valuable since it offers a different perspective.
Discrepancies between these two assessments can provide insight into the
effectiveness of the organization’s mission statement.
Contents
Effective mission statements start by articulating the organization’s purpose.
Mission statements often include the following information:




aim(s) of the organization
the organization’s primary stakeholders, such as clients or customers,
shareholders, congregation, donors, students, etc.
how the organization provides value to its stakeholders; that is, by
offering specific types of products or services
declaration of the organization’s core purpose
According to business professor Christopher Bart, the commercial mission
statement consists of three essential components:
1. Key market: Who is your target client/customer? ( generalize if
necessary)
2. Contribution: What product or service do you provide to that client?
3. Distinction: What makes your product or service so unique that the client
should choose you?
Assimilation
To be truly effective, an organizational mission statement must be assimilated
into the organization’s culture. Leaders have the responsibility of
communicating the vision regularly, creating narratives that illustrate the vision,
acting as role models by embodying the vision, creating short-term objectives
compatible with the vision, and encouraging employees to craft their own
personal vision that is compatible with the organization’s overall vision.
Licenses and Attributions
Internal Analysis Inputs to Strategy from Boundless Management by Lumen
Learning, originally published by Boundless.com, is available under a Creative
Commons Attribution-ShareAlike 4.0 International license. UMUC has modified
this work and it is available under the original license.
Mission and Vision Statements
A healthcare giant overcomes merger risks for global growth
To achieve the promise of its multibillion-dollar acquisition, this global pharma
company had to avoid common post-integration missteps that undermine deals
involving different cultures and organizations. We worked with the leadership of
both companies to craft a shared vision, prevent business disruptions and bridge
differences, creating a fully integrated enterprise that’s delivering results:
dramatically increased sales and profits.
The Full Story
The Situation
Acquiring a major supplier was part of PharmaCo’s* global strategy to grow its
market dominance with an expanded product line, enhanced scale and stronger
innovation abilities.
But PharmaCo knew the risks. Too often strategically sound deals fail to live up
to expectations because of three major stumbles: missed targets, loss of key
people and poor performance in the core business. PharmaCo faced an added
merger complexity because this was a cross-border deal, which required
addressing regional and cultural differences and geographically dispersed
operations and employees.
To succeed, the CEO and senior leadership needed an integration plan that
clearly defined the payoffs—and risks—and how to overcome them. Only then
would the merged company be able to hit its performance targets.
Our Approach
Working collaboratively with senior management from both companies, we
assessed the biggest integration risks and provided options for mitigating them.
Distinct differences emerged between PharmaCo and the acquired supplier,
which was more customer-oriented and focused on innovation.
We helped senior leadership tackle the three major risks:



Clarify and define a compelling shared vision during workshops with both
management teams.
Plan for business disruptions by identifying people most impacted by change and
organizational trouble spots; develop a short- and long-term mitigation plan that
mobilizes leaders and supports key employees.
Prepare to integrate the cultures by prioritizing major differences and developing
an action plan.
Our Recommendations
We recommended PharmaCo’s leadership adopt a two-part integration:
Pre-merger would involve employee training, customer support and communications from trusted
managers to prepare employees.
Post-merger would include launching transformation initiatives that align organizations around a
shared vision and changed behavior to deliver results:




Transform the culture in priority areas; develop a vision of the future and a
“one-team” attitude.
Enlist Change Sponsors to win buy-in by creating a Sponsorship Spine—an
unbroken chain of people who support change from the bottom up to the
executive suite.
Speed execution with decision planning that tracks progress and mitigates
ongoing risks.
Gain a sustained competitive advantage by building a repeatable model for
change.
The Results
With our risk assessment and disciplined integration plan, PharmaCo and its acquired supplier
defied the merger odds. Both companies generated record quarterly results—even while still
executing the merger.
Performance


PharmaCo’s sales surged 21%, with margins rocketing up 44%.
Acquired supplier increased sales 14%, generating a 24% increase in operating
profits.
Integration



PharmaCo’s acquisition closed on schedule.
The new joint leadership team took over on day one.
Initiatives to mitigate risks were put in place as planned.
The key to PharmaCo’s success: recognition that change takes place over time. PharmaCo’s
advanced planning has allowed it to deliver on the merger’s promise—while protecting its core
business, retaining talented employees and strengthening customer relationships.
What is Strategy?
A strategy is a plan of action designed to achieve a specific goal or series of
goals within an organizational framework.
Key Points




Strategic management is the process of building capabilities that allow a
firm to create value for customers, shareholders, and society, while
operating in competitive markets.
Strategy entails specifying the organization’s mission, vision, and
objectives; developing policies and plans to execute the vision; and
allocating resources to implement those policies and plans.
Strategy is largely about using internal assets to create a value-added
proposition. This helps to capture opportunities in the competitive
environment while avoiding threats.
Experts in the field of strategy define the potential components of
strategy and the different forms strategy can take.
Key Terms



strategic management—the art and science of formulating,
implementing, and evaluating cross-functional decisions that will enable
an organization to achieve its objectives
balanced scorecard—strategic performance management tool used by
managers to track the execution of activities within their control and
monitor the consequences of those actions
strategy—a plan of action intended to accomplish a specific goal
Strategy involves the action plan of a company for building competitive
advantage and increasing its triple bottom line over the long term. The action
plan relates to achieving the economic, social, and environmental performance
objectives; in essence, it helps bridge the gap between the long-term vision
and short-term decisions.
Strategic Management
Strategic management is the process of building capabilities that allow a firm to
create value for customers, shareholders, and society, while operating in
competitive markets (Nag, Hambrick, & Chen, 2006). It entails the analysis of
internal and external environments of firms to maximize the use of resources in
relation to objectives (Bracker, 1980). Strategic management can depend upon
the size of an organization and the proclivity to change the organization’s
business environment.
The process of strategic management entails:



Specifying the organization’s mission, vision, and objectives
Developing policies and plans that are designed to achieve these
objectives
Allocating resources to implement these policies and plans
As an example, let’s take a company that wants to expand its current
operations to produce widgets. The company’s strategy may involve analyzing
the widget industry along with other businesses producing widgets. Through
this analysis, the company can develop a goal for how to enter the market
while differentiating from competitors’ products. It could then establish a plan to
determine if the approach is successful.
Keeping Score
A balanced scorecard is a tool sometimes used to evaluate a business’s
overall performance. From the executive level, the primary starting point will be
stakeholder needs and expectations (i.e., financiers, customers, owners, etc.).
Following this, inputs such as objectives, operations, and internal processes
will be developed to achieve these expectations.
Another way to keep score for a strategy is to use a strategy map. Strategy
maps help to illustrate how various goals are linked and provide trajectories for
achieving them.
Strategy Map for a Public-Sector Organization
Various goals are linked and there are trajectories for achieving them.
Common Approaches to Strategy
Richard Rumelt
In 2011, Professor Richard P. Rumelt described strategy as a type of problem
solving. He outlined a perspective on the components of strategy, which
include the following:



Diagnosis. What is the problem being addressed? How do the mission
and objectives imply action?
Guiding Policy. What framework will be used to approach the
operations? (This, in many ways, should be the decision of a given
competitive advantage relative to the competition.)
Action Plans. What will the operations look like (in detail)? How will the
processes be enacted to align with the guiding policy and address the
issue in the diagnosis?
Michael Porter
In 1980, Michael Porter wrote that formulation of competitive strategy includes
the consideration of four key elements:




company strengths and weaknesses
personal values of the key implementers (i.e., management or the
board)
industry opportunities and threats
broader societal expectations
Henry Mintzberg
Henry Mintzberg stated that there are prescriptive approaches (what should
be) and descriptive approaches (what is) to strategic management.
Prescriptive schools are “one size fits all” approaches that designate best
practices, while descriptive schools describe how strategy is implemented in
specific contexts. No single strategic managerial method dominates, and the
choice between managerial styles remains a subjective and context-dependent
process. As a result, Mintzberg hypothesized five strategic types:





strategy as plan—a directed course of action to achieve an intended
set of goals, similar to the strategic planning concept
strategy as pattern—a consistent pattern of past behavior with a
strategy realized over time rather than planned or intended. (Where the
realized pattern was different from the intent, Mintzberg referred to the
strategy as emergent.)
strategy as position—locating brands, products, or companies within
the market based on the conceptual framework of consumers or other
stakeholders; a strategy determined primarily by factors outside the firm
strategy as ploy—a specific maneuver intended to outwit a competitor
strategy as perspective—executing strategy based on a “theory of the
business,” or a natural extension of the mindset or ideological
perspective of the organization
Example
A company wants to expand its current operations to produce widgets. The
company’s strategy may involve analyzing the widget industry along with other
businesses producing widgets. Through this analysis, the company can
develop a goal for how to enter the market while differentiating from
competitors’ products. It could then establish a plan to determine if the
approach is successful.
The Role of Vision
A clear and well-communicated vision is essential for a leader to gain support
and for followers to understand a leader’s goals.
Key Points



Vision is defined as a clear, distinctive, and specific view of the future
that is usually connected with strategic decisions for the organization.
A thriving organization will have a vision that is succinct,
understandable, and indicative of the direction that the company wants
to head in the future.
Leaders are essential for communicating the vision of the organization
and promoting it through the decisions they make and the strategies
they pursue.
Key Term

vision—a clear, distinctive, and specific view of the future that is usually
connected with a leader’s strategic advances for the organization
A vision is defined as a clear, distinctive, and specific view of the future, and is
usually connected with strategic advances for the organization. Effective
leaders clearly define a vision and communicate it in a way that fosters
enthusiasm and commitment throughout the organization. This ability to
express a vision and use it to inspire others differentiates a leader from a
manager.
Many researchers believe that vision is an essential quality of effective
leaders—as important as the abilities to communicate and to build trust.
Effective leaders clearly communicate their vision of the organization. Their
decisions and strategies reflect their view of what an enterprise can be rather
than what it currently is. A strong leader builds trust in the vision by acting in
ways that are consistent with it and by demonstrating to others what it takes to
make the vision a reality.
Vision is an essential component of an organization’s success. A thriving
organization will have a vision that is succinct, indicates the direction the
company is heading, and widely understood throughout all levels of the
organization. The more employees are aware of, understand, and believe in
the vision, the more useful it is in directing their daily behavior.
Vision and mission are sometimes used interchangeably, but there is a useful
distinction between the two. A vision describes an organization’s direction,
while its mission defines its purpose. By focusing on the value an organization
creates, the mission helps prioritize activities and provides a framework for
decision-making.
Vision also plays a significant role in a leader’s strategy for the organization.
By setting the direction, a vision underscores the necessity of all areas of a
business working toward the same goal. This unity of purpose often involves
changing what is done and how, and aligning the activities and behavior of
people. A vision reduces ambiguity and provides focus—two benefits that are
especially valuable in turbulent or rapidly changing times.

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