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VISION, MISSION, VALUES AND OBJECTIVES
TEAM MEMBERSName Roll
No.Specializatio
nNidhi Desai 24 Marketing
Ronak Desai 26 Marketing
Sukhwant S Sandhu 84 Finance
Neha Sangoi 85 Finance
Sayyed Arif 86 Finance
Ajay Sharma 92 Finance
Richa Sharma 95 HR
Hardeep J Singh 101 Operations
Strategic management
Strategic analysis
Strategic choice
Strategic implementati
on
STRATEGIC INTENT IS THE BASIS FOR:
Products and services
Profits for investors
Jobs for employees
Economic stability for communities
Social responsibility
5
THE LANGUAGE OF STRATEGIC INTENT
Decision Criteria
Strategic Intent
Vision Mission
Priorities Objectives Aims
Strategic Initiatives Strategies
VISION is the motivator. It needs to be meaningful with a long term perspective.
MISSION is the founder’s intentions at the outset of the organization.
VALUES manifest in what the organization does as a group and how it operates.
VISIONA vision statement answers:
“What will success look like?”“Who are we?”
“What are we trying to do?”“How do we want to go about it?”
“Where are we headed?”
VISIONING:
Must be encompassed by your beliefs.
Breaks you out boundary thinking.
Identifies direction and purpose.
Promotes interest and commitment.
Encourages and builds confidence.
Results in efficiency and productivity.
Promotes laser like focus.
Alerts stakeholders to needed change.
HOW IT HELPS THE ORGANISATION???
A basis for performance.
Reflects core values.
Way to communicate.
EXAMPLESITC – ‘Either we become world class or we
leave the business’
Hindustan Levers Ltd – ‘Our vision is to
meet the everyday needs of people
everywhere’
Britannia – ‘Every third consumer must be a
britannia consumer by 2004’
MISSIONA mission statement answers:
“Why does the organization exist?”“What is its value addition?”
“What’s its function?”“What business is it in?”
“How does it want to be positioned in the market?”
MISSIONA Mission Statement:
Is a statement of purpose and function.
Draws on your belief statements .
Must be specific to the organization, not
generic.
Must focus on one common purpose.
COMPONENTS OF A MISSION STATEMENT
The Key Market
Contribution
Distinction
ORGANIZATIONAL VALUES
Give a common cause and common sense of
purpose
It provides direction to the strategy of the
organsation
It provides guidelines to the moral conduct of
the organsation in achieving its mission and
objectives
EXAMPLESMahindra & Mahindra - Our ValuesOur Core Values are influenced by our past,
tempered by our present, and will shape our future. They are an amalgam of what we have been, what we are and what we want to be.
Good Corporate Citizenship Professionalism Customer First Quality Dignity of the Individual
VISION MISSION VALUESSTRENGTHEN THE DEMOCRATIC VALUE
REDUCE POVERTY & INJUSTICE
PROMOTE INTERNATIONAL CO OPERATION
ADVANCE HUMAN ACHIEVEMENT
OUR DEREAM IS A WORLD FREE OF POVERTY
TO BE AN EXCELLENT INSTITUTION ABLE TO ATTRACT, EXCITE & NURTURE DIVERSE AND COMMITTED STAFF WITH EXCEPTIONAL SKILLS
TO FIGHT POVERTY WITH PASSION AND PROFESSIONALISM
PERSONAL HONESTY
INTEGRITY
COMMITMENT
WORKING TOGETHER IN TEAMS- WITH OPENNESS AND TRUST
EMPOWERING OTHERS AND RESPECTING OTHERS
VISION MISSION VALUES
REVITALISE THE CORE BUSINESS FOR A SUSTAINAIBLE BUSINESS
VENTURE INTO NEW BUSINESSES THAT WILL OWN A SHARE OF OUR FUTURE
UPHOLD THE SPIRIT AND VALUES OF TATA’s TOWARDS MISSION BUILDING
IT STRIVES TO STRENGHTEN INDIA’s INDUSTRIAL BASE THROUGH THE EFFECTIVE UTILISATION OF THE STAFF AND MATERIALS.
COMPANY SEEKS TO SCALE THE HEIGHTS OF EXCELLENCE IN ALL THAT IT DOES , IN AN ATMOSTPHERE FREE FROM FEAR, AND THERBY REAFFIRMS ITS FAITH IN DEMOCRATIC VALUES
TATA'S PRINCIPAL PURPOSE IS TO IMPROVE THE QUALITY OF LIFE OF THE COMMUNITIES IT SERVES. THE VALUES AND IDEALS THAT DEFINE THE WAY THE GROUP FUNCTIONS HELP IT DO THAT.
ORGANIZATIONAL OBJECTIVES• Provide a benchmark for assessment.
• Help convert mission into performance
targets.
• Coordinate the activities of organization.
• Define the entire purpose of your business.
OBJECTIVES VS GOALSConcrete attainments that can be achieved by following a certain number of steps.
Long-term aims that you want to accomplish.
Objectives – has the word “object” in it. Objects are concrete. They are something that you can hold in your hand. Because of this, your objectives can be clearly outlined with timelines, budgets, and personnel needs.
Goals – has the word “go” in it. Your goals should go forward in a specific direction. However, goals are more about everything you accomplish on your journey, rather than getting to that distant point. Goals will often go into undiscovered territory and you therefore can’t even know where the end will be
Ex: I want to memorize the periodic table before my next quiz. I want to increase my sales by 10% this month. I want learn to play “Freebird” on the guitar.
Ex: I want to be a better ball player. I want to learn more about Chinese history. I want to maximize my professional performance.
ORGANIZATIONAL OBJECTIVES-TYPES
Strategic objectives.
Business process objectives.
Operational objectives (KRAs).
HIERARCHY OF OBJECTIVES
Setting Objectives
Top down Approach
Bottom Up Approach
ISSUES WHILE SETTING OBJECTIVES
• Balance your objectives.
• Multiplicity of objectives.
• Themes for objectives.
• Use result oriented objectives.
• Quantify your objectives.
• Network objectives.
The SMART FormulaUseful method of examining objectives
• Specific
• Measurable
• Achievable
• Realistic
• Timely
CONCLUSION
THANK YOU…
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