Vision, Mission, Goals & Business Objectives

8/4/2019 Vision, Mission, Goals & Business Objectives

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Vision, Mission, Goals & BusinessObjectives

Hareram Kumar


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Strategic intent

Strategic intent envisions a desired

leadership position and establishes the

criterion the organisation will use to char its

progress.Why Japanese firms have overruled American and European firms; since

they believe in having an obsession to win: sometimes having obsession

out of proportion to their resources and capabilities

Hamel & prahlad,1989


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Attributes of strategic intent

Sense of direction

Sense of discovery

Sense of destiny


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vision

mission

goals

objectives

plans

Most

specific

Greatest in

number

Fewest in

numberMostintegrative


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vision

Starting point of expressing an organizations strategic

intent

a mental image of what the future will or could be like

Organizations projections

Acc to Burt Nanus, expert of organizational vision ,vision is

Realistic, credible and attractive future of an

organisation


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Acc to Oren Harari

Vision should describe a set of ideals and priorities, a pictureof the future, a sense of what makes the company special

and unique, a core set of principles that the company standsfor and a broad set of compelling criteria's that will help

define organizational success

Two more dimensions

Core set of principles

Criteria for measuring success


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features

Idealistic

Clear direction

Inspirational Uniqueness

Well articulated


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Role in strategy formulation

Provides clue for an organisation to head for

in future

Place organisation in unique position

Source of inspiration


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RIL

To achieve global leadership in polymers, fibers and resin businesses

through innovative and technology development in materials, products

and applications through efficient, disciplined ,target oriented and cost

effective R&D activities.

Infosys tech.

To be a globally respected company that provides best-in-breed software

solutions by best in class people

TATA tea

To be indias foremost tea based company


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Mission

Reason for existence

Acc to Thompson

mission is the essential purpose of an organisation,concerning particularly why it is in existence ,thenature of businesses it is in and the customers itseeks to serve and satisfy


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Vision vs Mission

Vision is fore ward looking view of organisation what

it wants to become; Mission states what the

organization is and why it exists

Vision emphases on long term concepts; missiondeals with how organization will interact


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Mission and role in strategy

formulation

Deciding direction

Clarify aspirations

Reference point in dealing Integrating organisation and environment

Integrating subsystems

Clear message to outsiders


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Characteristics

Clear

Precise

Feasible

Motivational

Directional

ELEMENTS Organizations self concept

Organizational philosophy

Organizational image

Long term objectives

Nature of business


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Hero-HondaIt is our mission to strive for synergy between technology, systems and

human resources to produce products and services that meet quality,

performance and price aspirations of our customers, while doing so, we

maintain the highest standards of ethics and societal responsibilities. thismission is what drives us to new heights in excellence and helps us to

forge a unique and mutually beneficial relationships with all our

stakeholders. We are committed to move ahead resolutely on this path


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Business definitions

Where to go, what exactly to do.

Focus and differentiation


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textiles

Personal wears Non-wears

Under garmentssareesshirtingssuitings

syntheticssilkcotton

Low pricedHigh priced Medium priced


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Corporate business definitionscompany Business definitionsproducts

Hindustanunilever

Kodak

india

Herocycles

Indian oil

Bharti

airtel

FMCG

CAMERAS

BICYCLES

PETRO

PRODUCTS

TELECOM

To meet everyday needs of people everywherewith branded products

Quality oriented photographic system, appealing

to customers

Functionally valuable bicycles affordable tocommon people

To provide various types of safe and cost

effective energy

To provide multiple forms of reliable, efficient

and inexpensive telecom services.


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Acc. To peter Drucker

1) who is the customer

Where is customer located

How does customer buy

How can customer be reached

2 )what does the customer buy

3)what does customer value


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ABELLS definition

Customer group

Alternatetechnology

Customer function

What is our business is not determined by producer but by consumerby the

want the consumer satisfies when he buys a product/serviceThere is only one boss i.e. customer he can fire anybody in an organisation simply

by spending money somewhere elsesam walton


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Assignment 1

Develop the vision, mission, goals and business

objective along with anticipative and suggestive

plans, for an enterprise of your choice that you arededicated to launch in future. the study needs to be

comprehensive and feasible.

a step towards professional entrepreneurship

THINK LOGICALLY THINK FAST THINK RELIABLY

Documents

Vision, Mission, Goals & Business Objectives