Vision, Mission, Values

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TEAM MEMBERSNameNidhi Desai Ronak Desai Sukhwant S Sandhu Neha Sangoi Sayyed Arif Ajay Sharma Richa Sharma Hardeep J Singh 24 26 84 85 86 92 95 101

Roll No.

SpecializationMarketing Marketing Finance Finance Finance Finance HR Operations

Strategic management

Strategic analysis

Strategic choice

Strategic implementation

STRATEGIC INTENT IS THE BASIS FOR:y Products and services y Profits for investors y Jobs for employees y Economic stability for communities y Social responsibility

THE LANGUAGE OF STRATEGIC INTENTStrategic Intent

Vision

Mission

Priorities

Aims

Objectives

Decision Criteria

Strategic Initiatives

Strategies

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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???y A basis for performance. y Reflects core values. y Way to communicate.

EXAMPLESy ITC

Either we become world class or we leave the

businessy Hindustan Levers Ltd

Our vision is to meet the

everyday needs of people everywherey 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 STATEMENTy The Key Market y Contribution y Distinction

ORGANIZATIONAL VALUESy Give a common cause and common sense of purpose y It provides direction to the strategy of the organsation y It provides guidelines to the moral conduct of the

organsation in achieving its mission and objectives

EXAMPLESMahindra & Mahindra - Our Values y Our 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. y Good Corporate Citizenship y Professionalism y Customer First y Quality y Dignity of the Individual

VISIONSTRENGTHEN THE DEMOCRATIC VALUE REDUCE POVERTY & INJUSTICE PROMOTE INTERNATIONAL CO OPERATION ADVANCE HUMAN ACHIEVEMENT

MISSIONOUR 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

VALUESPERSONAL HONESTY INTEGRITY COMMITMENT WORKING TOGETHER IN TEAMS- WITH OPENNESS AND TRUST EMPOWERING OTHERS AND RESPECTING OTHERS

VISIONREVITALISE THE CORE BUSINESS FOR A SUSTAINAIBLE BUSINESS

MISSION

VALUESTATA'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.

IT STRIVES TO STRENGHTEN INDIAs INDUSTRIAL BASE THROUGH THE EFFECTIVE VENTURE INTO NEW UTILISATION OF THE BUSINESSES THAT WILL STAFF AND MATERIALS. OWN A SHARE OF OUR FUTURE COMPANY SEEKS TO SCALE THE HEIGHTS OF EXCELLENCE IN ALL UPHOLD THE SPIRIT AND VALUES OF TATAs THAT IT DOES , IN AN ATMOSTPHERE FREE TOWARDS MISSION FROM FEAR, AND BUILDING THERBY REAFFIRMS ITS FAITH IN DEMOCRATIC VALUES

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 Long-term aims that you want to achieved by following a certain number of accomplish. steps. 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 be a better ball player. I want to learn more about Chinese history. I want to maximize my professional performance.

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.

ORGANIZATIONAL OBJECTIVES-TYPESy Strategic objectives. y Business process objectives. y Operational objectives (KRAs).

HIERARCHY OF OBJECTIVES

Setti jectives

Top dow 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

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