Mission Statement, Goals, And Performance Management Essay

Mission, Goals, and Performance Management The mission statement, goals, and performance management are all components of strategic planning. Strategic planning is an organizational effort to identify priorities, establish where an organization is going and determine how it will know when it gets there (Balanced Scorecard Institute, n.d.). Performance management ties the organizational mission statement, vision, goals, and strategies into measurable individual and team goals that align with the organizational components. Anadarko Petroleum Corporation is an international exploration and production oil and gas company. Anadarko is a company that has invested a great deal in strategic planning and as part of their efforts to be transparent with both investors and employees, has made available their mission statement, vision statement, values, and big picture strategies. (Anadarko, n.d.) Strategic Planning Overview A mission statement defines an organization’s reason for existence (Aguinis, 2013). Anadarko’s mission statement is defined as follows: â€Å"To deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world’s health and welfare.† This statement indicates Anadarko is a for profit oil and gas company working to develop oil and gas resources in a sustainable manner (Anadarko, n.d. a.). The vision statement shows the direction that a company wants to go. Anadarko’sShow MoreRelatedOrganizational Goals955 Words   |  4 PagesAbstract Mission statements and organizational goals have evolved dramatically over the past twenty years. Once a mission statement was a simple statement that conveyed why the organization existed. Now, that same statement may include information about supporting sustainability and corporate responsibility. 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