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.
- How Strategies Arise
- Intended, Deliberate, Realized, and Emergent Strategies
- Management and Strategic Planning
- Mintzberg's Schools of Strategic Development
- Design School
- Planning School
- Positioning School
- Entrepreneurial School
- Cognitive School
- Learning School
- Power School
- Culture School
- Environmental School
- Configuration School
- Mintzberg's 5Ps of Strategy
- McKinseys 7s Model
- ***Industry Analysis to Build a Strategy***
- Strategic Analysis
- SWOT Analysis
- SPACE Analysis
- Situational Analysis - 7C
- Competition Profile Matrix
- Stakeholder Analysis
- Stakeholder Mapping
- Resources and Capabilities
- Core Competency
- VRIO Analysis
- Value Chain Analysis
- Internal Factor Analysis
- Value Creation Index
- Minimum Efficient Scale
- PEST(LE) Analysis
- Industry Lifecycle Analysis
- Company Lifecycle - Definition
- Porter's Five Forces
- Modes of Management
- External Factor Evaluation
- Business Performance Measurement
- Balanced Scorecard
- Economic Value Added
- Activity-Based Management
- Quality Management
- Action Profit Linkage Model
- Business Activity Monitoring
- Gap Analysis
- Strategy Diamond
- BCG Growth-Share Matrix
- GE McKinsey Matrix
- Value Reporting Framework
- Pyrrhic Victory