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…