Vision & mission statements of selected fmcg organizations

CORPORATE MISSION & VISION – A CORPORATE MISSION & VISION – A STUDYSTUDY

GROUP NAME – G7GROUP NAME – G7

MISSION & VISIONMISSION & VISION

"Vision without action is a daydream. Action without vision is a nightmare." – a Japanese proverb.

A “Vision” statement” is the highest order of goals that takes the organization to the tipping point. It is an idealistic projection of where the organization wishes to see itself in the long-term. A vision statement serves as a catalyst. It plays a pivotal role for the success of any organization. It should be clear, crisp, simple and straight and above all jargon free. It must energize employees to contribute their best. They must be able to take pride and be proud of the organization.

“Mission” statement reflects the way in which the organization’s “Vision” can be transformed into a tangible existence for the entity. Practically speaking, a “Mission” statement of an organization speaks in terms of WHO we are?, WHAT we want to create? and WHY we want to exist? It sets out the roadmap for the organization to reach its goal and objective. It spells out how the organization plans to accomplish its “Vision”.

ASSIGNMENT OBJECTIVEASSIGNMENT OBJECTIVE

The group’s task was to collate and qualitatively evaluate the “Vision” and “Mission” statements of a few major corporate entities in a selected sector of India’s economy.

METHODOLOGYMETHODOLOGY

For the given assignment, our group had focused upon the 4th largest contributor to the Indian economy viz. the FMCG (Fast Moving Consumer Goods) sector. The FMCG sector has an annual revenue generation of 13.1 billion USD in FY 2011-12. In this category, we selected four of the major players – (1) Coca Cola (India), (2) PepsiCo (India), (3) ITC Limited & (4) Hindustan Unilever Limited.

For understanding the quality of the mission & vision statements of these organizations, we based our evaluation on the following parameters: -

METHODOLOGY (CONTINUED)METHODOLOGY (CONTINUED)

(A) Parameters for qualitative evaluation of the corporate “Vision” statements: -

1) WHETHER IT IS 'POWERFUL'?

2) WHETHER IT IS 'PURPOSEFUL'?

3) WHETHER IT IS 'SELF-DETERMINING'?

4) WHETHER IT IS 'CONCRETE'?

5) WHETHER IT IS 'MULTI-FACED'?

6) WHETHER IT IS 'EMOTIONAL'?


(B) Parameters for qualitative evaluation of corporate “Mission” statements: -

1) WHETHER IT REFLECTS ON EXISTENTIAL PLANE THE VISION

OF THE ORGANIZATION ?

2) WHETHER IT INCORPORATES THE CORE CORPORATE VALUES?

3) WHETHER IT IS FEASIBLE, UNDERSTANDABLE & CONCISE?

4) WHETHER IT GENEROUSLY STATES THE ORGANIZATION'S

GOALS?

5) WHETHER IT HAS A SEMANTIC IMPACT ON ALL

STAKEHOLDERS?

6) WHETHER IT HAS A GOOD LITERARY FORMULATION?


- Excellent adherence by the sample to the given parameter.- Average adherence by the sample to the given parameter.- Poor adherence by the sample to the given parameter.

The group critically analyzed each parameter against the collated “Vision” and “Mission” statements for each sample organization and then scored the same as per the following key : -

INDUSTRY – FMCGINDUSTRY – FMCG

COCA COLA (INDIA), PEPSICO (INDIA),

ITC LIMITED & HINDUSTAN UNILEVER LIMITED.

COCA COLA (INDIA)COCA COLA (INDIA)

Coca Cola (India) is a USD 1.09 billion MNC corporate which restarted business in India from 1993. It has a mix of its international brands like Minute Maid as well the brands it had acquired from Parle like Thums Up (which as a matter of fact enjoys a share of 40% in the Indian CSD market), Limca etc.

VISION & MISSIONVISION & MISSION

Our Vision: -Our Vision: - “Our vision serves as the framework for our Road map and guides every aspect

of our business by describing what we need to accomplish in order to continue achieving sustainable, quality growth.

People: Be a great place to work where people are inspired to be the best they can be.

Portfolio: Bring to the world a portfolio of quality beverage brands that anticipate and satisfy people’s desires and needs.

Partners: Nurture a winning network of customers and suppliers, together we create mutual, enduring value.

Planet: Be a responsible citizen that makes a difference by helping build and support sustainable communities.

Profit: Maximize long-term return to share owners while being mindful of our overall responsibilities.

Productivity: Be a highly effective, lean and fast-moving organization.”


Our Mission: -Our Mission: -

“Our Road map starts with our mission, which is enduring. It declares our purpose as a Company and serves as the standard against which we weigh our actions and decisions.

To refresh the world... To inspire moments of optimism and happiness... To create value and make a difference.”

EVALUATION SCORE-CARDEVALUATION SCORE-CARD

S.NO. ANALYSING THE CHARACTERISTICS OF QUALITY VISION STATEMENTS COCA COLA INDIA1 WHETHER IT IS 'POWERFUL'?2 WHETHER IT IS 'PURPOSEFUL'?3 WHETHER IT IS 'SELF-DETERMINING'?4 WHETHER IT IS 'CONCRETE'?5 WHETHER IT IS 'MULTI-FACED'?6 WHETHER IT IS 'EMOTIONAL'?

S.NO. ANALYSING THE CHARACTERISTICS OF QUALITY MISSION STATEMENTS COCA COLA INDIA1 WHETHER IT REFLECTS ON EXISTENTIAL PLANE THE VISION OF THE ORGANIZATION ?2 WHETHER IT INCORPORATES THE CORE CORPORATE VALUES?3 WHETHER IT IS FEASIBLE, UNDERSTANDABLE & CONCISE?4 WHETHER IT GENEROUSLY STATES THE ORGANIZATION'S GOALS?5 WHETHER IT HAS A SEMANTIC IMPACT ON ALL STAKEHOLDERS?6 WHETHER IT HAS A GOOD LITERARY FORMULATION?

EVALUATION OF "VISION" STATEMENTS OF SAMPLE ORGANIZATIONS

EVALUATION OF "MISSION" STATEMENTS OF SAMPLE ORGANIZATIONS

PEPSICO (INDIA)PEPSICO (INDIA)

PepsiCo (India) is 2nd largest CSD MNC entity having a turnover of USD 743 million currently. PepsiCo entered the Indian market as early as 1989 as “Lehar Pepsi” and as “Pepsi” from 1991. Currently it has brands mostly from its international portfolio – like Pepsi, Mountain Dew, 7 UP and also some indigenous brands like Nimbooz, Slice etc. It has been gradually diversifying from core CSD segment into snacks – with the Frito Lay’s and Kurkure range of munchies and healthy foods like Gatorade, Quaker Oats etc.


Our Vision: -Our Vision: -

“PepsiCo's responsibility is to continually improve all aspects of the world in which we operate – environmental, social, economic – creating a better tomorrow than today.

Our vision is put into action through programmes and a focus on environmental stewardship, activities to benefit society and a commitment to build shareholder value by making PepsiCo a truly sustainable company.”


“Our mission is to be the world's premier consumer products company focused on convenient foods and beverages. We seek to produce financial rewards to investors even as we provide opportunities for growth and enrichment to our employees, our business partners and the communities in which we operate. And in everything we do, we strive for honesty, fairness and integrity.”


S.NO. ANALYSING THE CHARACTERISTICS OF QUALITY VISION STATEMENTS PEPSICO INDIA1 WHETHER IT IS 'POWERFUL'?2 WHETHER IT IS 'PURPOSEFUL'?3 WHETHER IT IS 'SELF-DETERMINING'?4 WHETHER IT IS 'CONCRETE'?5 WHETHER IT IS 'MULTI-FACED'?6 WHETHER IT IS 'EMOTIONAL'?

S.NO. ANALYSING THE CHARACTERISTICS OF QUALITY MISSION STATEMENTS PEPSICO INDIA1 WHETHER IT REFLECTS ON EXISTENTIAL PLANE THE VISION OF THE ORGANIZATION ?2 WHETHER IT INCORPORATES THE CORE CORPORATE VALUES?3 WHETHER IT IS FEASIBLE, UNDERSTANDABLE & CONCISE?4 WHETHER IT GENEROUSLY STATES THE ORGANIZATION'S GOALS?5 WHETHER IT HAS A SEMANTIC IMPACT ON ALL STAKEHOLDERS?6 WHETHER IT HAS A GOOD LITERARY FORMULATION?



ITC LIMITEDITC LIMITED

ITC Limited is a Indian business powerhouse having interests in Tobacco products, Personal Care, Packaged Foods and Confectionery besides subsidiaries dealing with Hotel, Paper & other segments. The non-tobacco FMCG segment of ITC is in a nascent stage but has already established itself with strong brand presence like Fiama, Vivel, Sunfeast etc.& is currently contributing USD 370

million turnover to the group kitty.



“ Sustain ITC's position as one of India's most valuable corporations through world class performance, creating growing value for the Indian economy and the Company’s stakeholders.”


“ To enhance the wealth generating capability of the enterprise in a globalizing environment, delivering superior and sustainable stakeholder value.”


S.NO. ANALYSING THE CHARACTERISTICS OF QUALITY VISION STATEMENTS ITC LTD.1 WHETHER IT IS 'POWERFUL'?2 WHETHER IT IS 'PURPOSEFUL'?3 WHETHER IT IS 'SELF-DETERMINING'?4 WHETHER IT IS 'CONCRETE'?5 WHETHER IT IS 'MULTI-FACED'?6 WHETHER IT IS 'EMOTIONAL'?

S.NO. ANALYSING THE CHARACTERISTICS OF QUALITY MISSION STATEMENTS ITC LTD.1 WHETHER IT REFLECTS ON EXISTENTIAL PLANE THE VISION OF THE ORGANIZATION ?2 WHETHER IT INCORPORATES THE CORE CORPORATE VALUES?3 WHETHER IT IS FEASIBLE, UNDERSTANDABLE & CONCISE?4 WHETHER IT GENEROUSLY STATES THE ORGANIZATION'S GOALS?5 WHETHER IT HAS A SEMANTIC IMPACT ON ALL STAKEHOLDERS?6 WHETHER IT HAS A GOOD LITERARY FORMULATION?



HINDUSTAN UNILEVER LTD.HINDUSTAN UNILEVER LTD.

Hindustan Unilever Limited (the Indian avatar of Unilever – the 2nd largest FMCG corporate worldwide) is a behemoth having a current turnover of nearly USD 3.7 billion. HUL (as it is better known as) has nearly 16 brands amongst the top 100 FMCG brands in India – like Dove, Surf, Wheel, Lux, Lifebuoy, Kissan, Lipton, Wall’s etc. It has a rich tradition of multi-faceted CSR activities and is considered to be amongst the pioneers of many merchandising

and marketing initiatives in the Indian market.



“Unilever products touch the lives of over 2 billion people every day – whether that's through feeling great because they've got shiny hair and a brilliant smile, keeping their homes fresh and clean, or by enjoying a great cup of tea, satisfying meal or healthy snack.

Clear Direction: -

The four pillars of our vision set out the long term direction for the company – where we want to go and how we are going to get there:

We work to create a better future every day We help people feel good, look good and get more out of life with brands and

services that are good for them and good for others. We will inspire people to take small everyday actions that can add up to a big

difference for the world.

VISION & MISSION (CONTINUED)VISION & MISSION (CONTINUED)

We will develop new ways of doing business with the aim of doubling the size of our company while reducing our environmental impact.

We've always believed in the power of our brands to improve the quality of people’s lives and in doing the right thing. As our business grows, so do our responsibilities. We recognize that global challenges such as climate change concern us all. Considering the wider impact of our actions is embedded in our values and is a fundamental part of who we are.”

Our Mission: -Our Mission: - “Unilever's mission is to add Vitality to life. We meet everyday needs for

nutrition, hygiene, and personal care with brands that help people feel good, look good and get more out of life.”


S.NO. ANALYSING THE CHARACTERISTICS OF QUALITY VISION STATEMENTS HUL1 WHETHER IT IS 'POWERFUL'?2 WHETHER IT IS 'PURPOSEFUL'?3 WHETHER IT IS 'SELF-DETERMINING'?4 WHETHER IT IS 'CONCRETE'?5 WHETHER IT IS 'MULTI-FACED'?6 WHETHER IT IS 'EMOTIONAL'?

S.NO. ANALYSING THE CHARACTERISTICS OF QUALITY MISSION STATEMENTS HUL1 WHETHER IT REFLECTS ON EXISTENTIAL PLANE THE VISION OF THE ORGANIZATION ?2 WHETHER IT INCORPORATES THE CORE CORPORATE VALUES?3 WHETHER IT IS FEASIBLE, UNDERSTANDABLE & CONCISE?4 WHETHER IT GENEROUSLY STATES THE ORGANIZATION'S GOALS?5 WHETHER IT HAS A SEMANTIC IMPACT ON ALL STAKEHOLDERS?6 WHETHER IT HAS A GOOD LITERARY FORMULATION?



CONCLUSIONCONCLUSION

Irrespective of the organization and the degree of quality approach, few common denominators can be observed to have been incorporated in their “Vision” & “Mission” statements. These reflect their common concern to achieve a sustainable and inclusive growth. We can deduce their genuine inclination to address to the fundamental intrinsic as well as extrinsic needs of all the stake-holders – employees, investors, consumers and society at large. Their “Vision” and “Mission” goals suggest that these corporate entities have evolved from their sheer profit-mindedness of the past into members of a

global family of responsible economic value-builders.

REFERENCE & BIBLIOGRAPHYREFERENCE & BIBLIOGRAPHY

Corporate Websites: -

(1) www.coca-colaindia.com (2) www.pepsiindia.co.in (3) www.itcportal.com

(4) www.hul.co.in

VISION, MISSION AND CORPORATE VALUES - A COMPARATIVE ANALYSIS OF THE TOP 50 U.S. COMPANIES (By Constantin BRĂTIANU, Georgiana Victoria BĂLĂNESCU, Academy of Economic Studies, Bucharest, 2008)

Web article “WHERE KNOWLEDGE IS WEALTH” (By Prof.M.S. Rao, MSR Leadership Consultants, February 2010)

THANK YOU

Members:

(1) Tauseef Islam (2) Saptashwa Das,

(3) Rajesh Kishore Roy (4) Kamal Das

(5) Indranil (6) Avijit Chowdhury

(7) Nilashish Ghosh Dastidar

Presentations & Public Speaking

Vision & mission statements of selected fmcg organizations