Analysis of Inter-Sectoral Differentiation in Setting the Vision and Mission

• Main Authors: Zrinka Blažević, Marija Tolušić, Mladen Mikolčević
• Format: Article
• Language: English
• Published: Faculty of Economics in Osijek 2010-12-01
• Series: Ekonomski Vjesnik
• Online Access: http://hrcak.srce.hr/file/95146

Design and implementation of strategy is the backbone of the business enterprise. Strategic management process begins by establishing the vision and mission. Therefore, they are important components of further development of the overall company strategy. Following the above, we can conclude that it is of paramount importance to set a quality statement about the vision and mission to develop strategies in a positive direction, being at the same time comprehensible and stimulating to all target groups. Economic development divides activities in four different sectors (primary, secondary, tertiary and quaternary). Each sector has its own specifics, which become a key component of differentiation of that sector in relation to others. Therefore, it can be assumed that the company's strategy within each sector is set in accordance with sector specifics. On the basis of the above mentioned facts we come to a conclusion that there are key components that are company’s strategies specific for each sector, which also differentiate strategy compared to strategies of other sectors. The aim of this paper is to find specific components to develop a strategy for each sector, and key components of inter-sectoral differentiation in setting the vision and mission.