General Motors’ mission statement is “to earn customers for life by building brands that inspire passion and loyalty through not only breakthrough technologies but also by serving and improving the communities in which we live and work around the world.” The statement inclines towards the experience General Motors can have on anyone the company interacts with. It has the following components:
- Distinguished services
- Improving communities
In the motor vehicle industry, there is no room for laxity. General Motors understands that competition is stiff and that customers go for nothing but the best brands. To satisfy this need, General Motors ensures that it is abreast with the latest technological advancements, and incorporates these to its designs. In this way, it has been offering its customers products and services they can get nowhere else. Additionally, General Motors do more than design cars and related products. The company extends its benefits to the society not only by designing sustainable sensitive cars but also by building healthy communities.
General Motors continued dominance in the motor vehicle industry comes down to the precision of its mission and vision statements. The company has maintained high standards in its line of products for over a century, making it one of the top ten multinational corporations in the Fortune 500.
Corporate statement impacts the success of a company because a mission statement sets the strategies that a firm exploits to grow, while a vision statement establishes the developmental path to be followed. In the case of General Motors, its vision statement is all about the leadership the company brings in the motor vehicle industry, while its mission statement focusses on the difference the products of the company can have on the customers.
General Motors’ core values are also critical in its success as they create a supportive culture. In fact, they come in handy in the achievement of the mission and vision statements.
General Motors’ vision statement is “to create a future of zero crashes, zero emissions, and zero congestion, and we have committed ourselves to leading the way toward this future.” The statement has the following elements:
- Create a future
- Leading the way towards this future
In the first element, General motors take up the responsibility of stimulating innovations that favor future success in the motor vehicle industry through its diverse and highly creative team of experts. The second component relates to the first one in that the company also takes up the mandate of leadership to show the way and how to exploit innovations for the holistic growth of the sector.
General Motors’ core values include “innovation, responsibility, teamwork, and continuous improvement.” The company considers these values as a critical component for the stability of the company.
An innovative culture is at the heart of General Motors, supported by the individual sacrifice to advance the goals of the company. The ability to own and be part of the bigger picture also promotes a sense of cooperation within General Motors, and this enables the company to maintain its consistent growth trend.
- Alden, J. M., Burns, L. D., Costy, T., Hutton, R. D., Jackson, C. A., Kim, D. S. … & Veen, D. J. V. (2006). General Motors increases its production throughput. Interfaces, 36(1), 6-25.
- Cady, S. H., Wheeler, J. V., DeWolf, J., & Brodke, M. (2011). Mission, vision, and values: what do they say? Organization Development Journal, 29(1).
- Chun, R., & Davies, G. (2001). E-reputation: The role of mission and vision statements in positioning strategy. Journal of Brand Management, 8(4), 315-333.
- Coase, R. (2006). The conduct of economics: the example of Fisher Body and General Motors. Journal of Economics & Management Strategy, 15(2), 255-278.
- Fogel, K., Morck, R., & Yeung, B. (2008). Big business stability and economic growth: Is what’s good for General Motors good for America?. Journal of Financial Economics, 89(1), 83-108.
- General Motors – About GM.
- Grewe, T. M., Conlon, B. M., & Holmes, A. G. (2007). Defining the general motors 2-mode hybrid transmission (No. 2007-01-0273). SAE Technical Paper.
- Ireland, R. D., & Hitt, M. A. (1992). Mission statements: Importance, challenge, and recommendations for development. Business Horizons, 35(3), 34-43.
- Klein, P. G. (2005). The make-or-buy decision: lessons from empirical studies. In Handbook of new institutional economics (pp. 435-464). Springer, Boston, MA.
- Peters, T. (1997). The brand called you. Fast company, 10(10), 83-90.
- Simpson, D. (1994). Rethinking vision and mission. Strategy & Leadership, 22(5), 9.
- Stallworth Williams, L. (2008). The mission statement: a corporate reporting tool with a past, present, and future. The Journal of Business Communication (1973), 45(2), 94-119.