Integrative Assignment 01 1Strategic ManagementIntegrative Assignment 01THERN, Inc.Katie Barber, Nicole Bartholomew, Caleb Clark, Stephany ElmerThis assignment is being submitted no later than February 11th, 2016 for Professor KathrynReady, Winona State University, College of Business, Strategic Management course.Correspondence concerning this assignment should be addressed to any of the above authors.
Integrative Assignment 01 2Integrative Team Assignment #1Background and Mission1.Thern Incorporated was founded in Winona, MN in 1948, by Royal and Lucille Thern. They started with basic winches and other small tools. Once World War II was officially over, they were able to build more complex winches and cranes, which has led to their success today. Now that the company has been around for more than 60 years, their name is known around the world for their products. Some notable projects Thern has worked on are the crane for theTimes Square ball drop, the Las Vegas Linq Ferris wheel, and the Pat Tillman memorial bridge at the Hoover Dam. Currently, Thern’s offices are located in Winona, MN, and the Netherlands in Europe. 2.Thern’s mission statement is: “Thern is a family-owned manufacturer focused on building long-term relationships by creating personal connections with our customers to ensure stability and mutual success. With careful consideration, we apply all of our abilities to understand our customers’ needs and work toward continuously improving our systems to exceed their expectations. We strive to provide best-fit solutions to our customers’ lifting, pulling and tensioning applications, with top quality products and services, timely responses and accurate information”.Thern’s vision is: “To promote an honest and positive atmosphere where all employees are encouraged to become involved to achieve growth and stability; to focus on customers to thoroughly understand their needs and desires; to expand our product offering to fully
Integrative Assignment 01 3develop diverse market opportunities; to lead the competition with our expert reputation for quality and service; to build trust by offering superior service and solutions; to provide reliable and competitive products that exceed our customer expectations; to utilize the full extent of our resources to maximize efficiencies and improvements”.After analyzing the mission statement of Thern Inc. we feel that their mission statement istoo extensive. From research and previous knowledge we know that a mission statement should be short and concise, typically only one sentence long. According to our book, Essentials of Strategic Management, “A company’s mission statement typically describes its present business and purpose (“who we are, what we do, and why we are here”)” (Gamble, etal, 2013, p. 20). Looking through their mission statement, we think they could use only the first sentence, and add a little more about their products. The goal of a mission statement is to