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8/8/2019 Vision, Mission & Objectives
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MODULE 2
VISION, MISSION AND OBJECTIVES
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"Vision without action is a daydream.Action without vision is a nightmare."
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MEANING
Vision
where the organisation wants to go in the
future Mission Statement
summary of the beliefs of the organisation
and where it is nowReason for the existence.
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Strategic Planning
The Vision
Communicating to all staff where the organisationis going and where
it intends to be in the future Allows the firm to set goals
Aims and Objectives:
Aims long term target
Objectives the way in which you are going toachieve the aim
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Objectives are the end results of a planned
activity. They state what is to be accomplished
by when and should be quantified if possible.
The achievement of corporate objectives should
result in the fulfillment of a corporatesmission.
OBJECTIVES
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Example:
Aim may be for a chocolate manufacturer to breakinto a new overseas market
Objectives Develop relationships with overseas suppliers
Identify network of retail outlets
Conduct market research to identify consumer needs
Find location for overseas sales team HQ
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MISSION
It states the purpose or reason for the
organizations existence.
It tells what the company is providing to thesociety, either service or products.
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Developing a Mission Statement
Step1Prepare a brainstorming session.
Step2
What is the purpose of your organization.
Step3
Consider the organization's products, services, markets,values, target audiences, priorities and activities.
Step4
Visit current and upcoming strategies the company has, andhow they effect the organization's overall mission.
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Step5
Ensure that the mission statement describes what theorganization does, and why it exists.
Step6
Revise drafted mission statement ideas so that they areshort and concise, clear and easily understood.
Step7
Develop a mission statement that will remain accurate in
light of future advances that may change the
organization's focus or direction.
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Criteria for Evaluating Mission Statements
Brief enough for most people to keep it in mind
Broad enough to allow flexibility in implementation, but not
broad enough to permit a lack of focus
Reflective of the organization's values, beliefs, and philosophy
Why the organization exists; that is, the overriding purpose
that the organization is trying to serve, and its goal
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Assignment
Give a short account of the history of the
company
Identify the mission and major goals of the
company
Do an analysis of the strength, weakness,
opportunities and weakness of the company.
Who is the CEO of the company. Evaluate the
CEOs leadership capabilities.
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PEST ANALYSIS
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PEST Analysis
Environmental Scan
External Analysis Internal Analysis
Macro Micro
environment environment
P.E.S.T
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Break up of PEST
Political Factors
Economic Factors Socio Cultural Factors
Technological Factors
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Political Factors
This is the most important influence on theregulation of any business.
How stable is the political environment?
Influence the Government Policy / Law on your
business Governments position on Marketing Ethics
Governments policy on the economy
Governments view on culture under religion
Political System is responsible for Law Making. Environmental Protection Law
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Economic Factors
Government outlook towards
Bank Financing
I
nterest Rates Exchange Rate Mechanism
Inflation
Labour Policies
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Socio-Cultural Factors
Demographics
Distribution ofIncome
Social Mobility
Life Style Changes
Educational Levels
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Advantage of Technology
In terms ofEconomies ofScale
NewD
iscoveries & Innovations Speed & Cost of Technology Transfer
Rate ofObsolescence
Technological Factors
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Role of PEST
Helps Assess the market including
Competitors from the stand point of a
Particular Business.
PEST is relevant for any type ofBusiness large,
small & medium.
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McKINSEY 7-S MODEL
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McKINSEY 7-S MODEL
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7SModel
Super ordinate goals : Core values of the organization
Structure : How people and tasks / work are organized
Strategy : Plan to build competitive advantage through
competitionSystems : The daily activities and procedures that the
staff members engage in
Staff : The employees and their capabilities
Style : How managers behaveSkills : Attributes or capabilities that exist in the
organization
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Super ordinate goals
It is also called as Shared Values
It is in the centre of the model and
interconnecting, as it is the fundamental ideaunder which a business is built
These are the central beliefs and attitudes of
the organization