VMOST (Strategy) - Explained
What is VMOST and internal Analysis?
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What is VMOST?
VMOST is an acronym that stands for Vision, Mission, Objectives, Strategy, Tactics. It represents and approach to internal company analysis.
A similar acronym used for internal analysis is MOST.
Back to: STRATEGY & PLANNING
How is VMOST used?
Companies use VMOST to understand, develop, and implement Corporate-level strategies. Note: This approach does not distinguish between Corporate, Competitive, and Functional strategies.
The first step is to identify, analyze or develop the company’s vision. The objective is to determine where the company wishes to go, or where it sees itself in the future.
The next step is to develop a Mission. The mission regards a specific target or goal that the company wishes to pursue. The mission drives the company. So, there is some intended outcome or goal in mind. Undertaking this mission will lead the company towards its vision.
What are the objectives identified as part of the mission. That is, what specific action items make up the mission. Identifying these specific objectives will allow the company to pursue it. The objectives are commonly related to organizational-level strategy (e.g., Stability, Growth, Retrenchment).
Strategy regards the plan or method(s) by which the company will address the identified objectives in pursuit of a given strategy. Achieving an organization-level strategy often involves competing successfully in a competitive environment. Such competition, likewise, requires functional and organizational alignment to allow for the pursuit of these objectives.
Tactics are the specific measures undertaken by the company in pursuit of the objectives identified as part of the strategy. For example, introducing a new product is a method of competing. The objective of such action may be to increase revenue, grow market share, expand brand awareness, etc. So, introducing a new product is a tactic to achieve a strategic objective. These strategic objectives thus align with the companies overall mission.