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Transcat's Nine Mission Statements

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A mission statement describes the company’s reason for existence and “answers the pivotal question, what is our business.” It is essential the mission statement is clear and communicated throughout the organization so employees can effectively formulate strategies and achieve goals. I chose Transcat, the company I am currently employed with, for this assignment. Transcat does not have a mission statement, but has a company credo statement that fulfils a majority of the mission statement components. Actually meets six of the nine mission components (customers, products/services, technology, concern for survival/growth/profitability, philosophy, and concern for employees). In addition, Transcat has a five-year vision plan. I conducted an interview …show more content…

John indicated he wasn’t exactly sure, but it was approximately around 2003, which was about 35 years after it was created. Second question I asked was “Who is responsible for its development. John indicated it was created by the laboratory managers (low level managers), regional directors (middle level managers), and vice presidents, CFO, and CEO. Third, I asked “did you involve stakeholders.” John indicated only some of them, managers only. Furth, I asked “by what process is the credo altered or modified and who is involved.” John indicated that if it was determined that the credo needed to be modified a group of laboratory managers, regional managers, and senior managers would get together to review if the company’s purpose, philosophy, or etc. has changed and if so the group would collaborate to determine what needed to change. A consensus decision is preferred, but sometimes a majority rule decision is how decisions are made. Fifth, I asked “how is Transcat’s company credo used day-to-day? John responded that the company credo is communicated to all company employees, starting with new hires frequently and all employees are encouraged and held accountable to comply with it. Sixth, I asked the question “is there a set time frame that the credo is reviewed to determine if changes are necessary? John indicated there is no set time frame where the credo is reviewed. He indicated it has been changed a couple of times over the twelve years it has been in

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