Corporate Vision

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  • CORPORATE VISION,MISSION & OBJECTIVES 04/10/10
  • CORPORATE VISION,MISSION & OBJECTIVES 04/10/10
  • Corporate Vision

    1. 1. VISION MISSION & O BJECTIVES CORPORATE
    2. 2. GROUP-5 DIVYA.S. NAIR JISMOL.C. VARGHESE NIJIYA.FAROOK NISHA.S RIJO.AUGUSTNE KIRAN.K.S
    3. 3. CONTENTS <ul><li>Corporate Enterprises? </li></ul><ul><li>What is an Organization? </li></ul><ul><li>Vision and its characteristics. </li></ul><ul><li>Mission and its characteristics. </li></ul><ul><li>Objectives its characteristics. </li></ul>
    4. 4. <ul><li> The corporate Vision, Mission and Objectives of two leading Corporate </li></ul><ul><li>TATA </li></ul><ul><li>AIG </li></ul><ul><li>Conclusion </li></ul>
    5. 5. C orporate Enterprises <ul><li>The business entities which are independent of their owners are known as corporate enterprises. These are recognized by virtue of the legislation, administrative regulations or registration. </li></ul>
    6. 6. Corporation in legal Point of view <ul><li>A corporation is a separate legal entity, usually used to conduct business. Corporations exist as a product of corporate law. </li></ul><ul><li> The defining feature of a corporation is its legal independence from the people who create it. </li></ul>
    7. 7. C haracteristics of New Corporations <ul><li>Delegated management. </li></ul><ul><li>Limited liability. </li></ul><ul><li>Investor ownership. </li></ul><ul><li>Separate legal personality. </li></ul>
    8. 8. O rganization <ul><li>“ An organization is a systematic arrangement of people working together in a structured way to accomplish some specified purpose ”. </li></ul><ul><li>The main goal of the organization is maximum profit at minimum cost . </li></ul><ul><li>Organization is related to organism i.e. HUMAN BODY. </li></ul>
    9. 9. VISION <ul><li>What is a CORPORATE VISION? </li></ul><ul><li>Kotter (1990) defines it as a, </li></ul><ul><li>“ Description of something (an organization, corporate culture, a business, a technology, an activity) in the future”. </li></ul>
    10. 10. <ul><li>Einamaki (1992) considers it as a </li></ul><ul><li>“ mental perception of the kind of environment an individual, or an organization, aspires to create within a broad time horizon”. </li></ul>
    11. 11. <ul><li>Miller and Dess (1996) view it simply as the “category of intentions that are broad, all inclusive, and forward thinking”. </li></ul><ul><li> Thus VISION is, being future aspirations that lead to an inspiration to be the best in one’s field of activity. </li></ul>
    12. 12. Characteristics of Vision <ul><li>Good visions are inspiring and exhilarating. </li></ul><ul><li>Good visions help in the creation of a common identity and a purpose. </li></ul><ul><li>Good visions are competitive, original and unique. </li></ul><ul><li>They make sense in the market place as they are practical. </li></ul>
    13. 13. <ul><li>Good visions foster risk taking and experimentation </li></ul><ul><li>Good visions foster long term thinking. </li></ul><ul><li>Good visions represent integrity, they are truly genuine and can be used for the benefit of people. </li></ul>
    14. 14. Corporate Vision of VCST <ul><li>To be the best performing producer of high technological and mechanical components and systems globally. </li></ul>
    15. 15. MISSION <ul><li>Mission is what an organisation is and why it exists. </li></ul><ul><li>Mission is a statement, which defines the role that an organisation plays in a society. </li></ul><ul><li>Hunger and Wheelen (1999) say that mission is the “purpose or reason for the organization’s existence”. </li></ul>
    16. 16. Characteristics of Mission <ul><li>It should be feasible. </li></ul><ul><li>A mission should always aim high but it should not be an impossible statement. </li></ul><ul><li>It should be precise . </li></ul><ul><li>A mission statement should not be so narrow as to restrict the organisation’s activities nor should it be too broad to make itself meaningless. </li></ul>
    17. 17. <ul><li>It should be clear . </li></ul><ul><li> A mission should be clear enough to lead to action. </li></ul><ul><li>It should be motivating. </li></ul><ul><li>A mission statement should be motivating for members of the organization and of society, and they should feel it worthwhile working for such an organization or being its customers. </li></ul>
    18. 18. <ul><li>It should be distinctive. </li></ul><ul><li>It should indicate how objectives are to be accomplished. </li></ul><ul><li>Besides indicating the broad strategies to be adopted a mission statement should also provide clues regarding the manner in which the objectives are to be accomplished. </li></ul>
    19. 19. NOKIA’S MISSION <ul><li>The company’s 2006 Mission is about ‘the awesome potential in connecting people’ </li></ul>
    20. 20. OBJECTIVE <ul><li>These are set of statements that lead to the accomplishment of purpose or mission of an organisation. </li></ul>
    21. 21. Characteristics of Objective <ul><li>The Objectives helps to define the organisation in its environment. </li></ul><ul><li>The organisations justify their existence to their stakeholders in the environment. </li></ul><ul><li>Objectives provide standards for assesing organisational performance. </li></ul>
    22. 22. <ul><li>Objectives help in coordinating decision and decision making. </li></ul><ul><li>Stated objectives impose some constraints on the behaviour of employees and modify it towards the desirable direction. </li></ul><ul><li>It helps in formulating Strategies </li></ul>
    23. 23. Objectives Of VCST <ul><li>Satisfied customers: by product quality, cost efficiency, on time delivery, flexibility </li></ul><ul><li>Satisfied shareholders: by exploiting the capacity of our production process optimaly </li></ul><ul><li>Satisfied employees: by good leadership, involvement, working conditions </li></ul><ul><li>Satisfied society: attention to the neighbourhood, minimum disadvantageous influence of our actvities on the environment </li></ul>
    24. 24. Values of VCST <ul><li>VCST is characterised by: </li></ul><ul><li>Devotion </li></ul><ul><li>Flexibility </li></ul><ul><li>Speed </li></ul><ul><li>Faith </li></ul><ul><li>Openness </li></ul><ul><li>Respect </li></ul><ul><li>Correctness </li></ul>
    25. 25. <ul><li>CORPORATE </li></ul><ul><li>VISION, MISSION </li></ul><ul><li>& </li></ul><ul><li> OBJECTIVE </li></ul>
    26. 26. TATA
    27. 27. About TATA <ul><li>The Tata Group is one of India' largest business conglomerates established by Jamshedji Tata (Jamshedji) in the second half of the 19th century. After Jamshedji, Jehangir Ratanji Dadabhoy Tata (JRD) became the Chairman of the Tata Group and played a significant role in continuing the vision of the group. </li></ul>
    28. 28. WINGS of TATA <ul><li>Tata Tea </li></ul><ul><li>Tata Consultancy services </li></ul><ul><li>Tata Motors </li></ul><ul><li>Tata Chemicals </li></ul><ul><li>Tata Steel </li></ul>
    29. 29. <ul><li>“ One must forever strive </li></ul><ul><li>for excellence or even </li></ul><ul><li>perfection, in any task </li></ul><ul><li>however small, and </li></ul><ul><li>never be satisfied with </li></ul><ul><li>the second best….” </li></ul><ul><li>… . JRD Tata, 1965 </li></ul>
    30. 30. TATA –CORPORATE VISION,MISSION AND OBJECTIVE. <ul><li>Vision Enrich the quality of life by offering products and services that meet the essential needs of people. </li></ul>
    31. 31. <ul><li>Mission We shall be the most respected company in the businesses and geographies we operate in. Our growth and success will be achieved by: </li></ul>
    32. 32. <ul><li>Enhancing the value we deliver to our customers. </li></ul><ul><li>Being globally competitive </li></ul><ul><li>Internationalisation of our business </li></ul><ul><li>Improving shareholder value Commitment </li></ul><ul><li>Strengthening stakeholder relationships </li></ul><ul><li>Providing new and innovative offerings </li></ul>
    33. 33. <ul><li>Values </li></ul><ul><li>Excellence </li></ul><ul><li>Integrity </li></ul><ul><li>Innovation </li></ul><ul><li>Fairness </li></ul><ul><li>Care </li></ul>
    34. 34. <ul><li>Objectives </li></ul><ul><li>To understand the vision that has driven the Tata group till Ratan Tata joined. </li></ul><ul><li>To analyse the contribution made by Ratan Tata to the Tata Group </li></ul><ul><li>To analyse if conglomerates can be driven by leaders' vision and not necessarily by a strategy </li></ul>
    35. 35. <ul><li>To analyse the leadership style of Ratan Tata </li></ul><ul><li>To analyse the succession dilemma at the Tata Group </li></ul><ul><li>To analyse what kind of leadership is required for Tata Group after Ratan Tata steps down. </li></ul>
    36. 36. AIG
    37. 37. AIG At A Glance <ul><li>American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers worldwide. </li></ul>
    38. 38. VISION <ul><li>To be the world's first-choice provider of insurance and financial services. We will create unmatched value for our customers, colleagues, business partners and shareholders; as we contribute to the growth of sustainable, prosperous communities. </li></ul>
    39. 39. MISSION <ul><li>To provide people and business with financial security through: </li></ul><ul><ul><li>Actively developing market driven product </li></ul></ul><ul><ul><li>Investing in people development </li></ul></ul><ul><ul><li>Giving prompt and caring services </li></ul></ul>
    40. 40. VALUES <ul><li>People: Develop diverse talent. Reward excellence. </li></ul><ul><li>Customer Focus : Anticipate their priorities. Exceed their expectations. </li></ul><ul><li>Performance : Be accountable. Manage risks. Deliver AIG's strength. </li></ul>
    41. 41. <ul><li>Integrity : Work honestly. Enhance AIG's reputation. </li></ul><ul><li>Respect : Value all colleagues. Collaborate with one another. </li></ul><ul><li>Entrepreneurship : Seize opportunities. Innovate for and with customers. </li></ul>
    42. 42. FOLLOW UP <ul><li>CORPORATE ENTERPRISE </li></ul><ul><li>CORPORATE IN LEGAL POINT OF VIEW </li></ul><ul><li>Characteristics of new corporizations </li></ul><ul><li>Delegated management. </li></ul><ul><li>Limited liability. </li></ul><ul><li>Investor ownership. </li></ul><ul><li>Separate legal personality. </li></ul>
    43. 43. <ul><li>ORGANISATION </li></ul><ul><li>VISION:- Description of something in future </li></ul><ul><li>CHARACTERISTICS OF VISION </li></ul><ul><li>Inspiring </li></ul><ul><li>Creation of common identity and a purpose. </li></ul><ul><li>Competitive original & unique </li></ul><ul><li>visions foster risk taking and experimentation </li></ul><ul><li>visions foster long term thinking. </li></ul><ul><li>Represent integrity, they are truly genuine and can be used for the benefit of people. </li></ul>
    44. 44. <ul><li>Mission. </li></ul><ul><li>Characteristics of mission. </li></ul><ul><li>It should be feasible. </li></ul><ul><li>It should be precise . </li></ul><ul><li>It should be clear . </li></ul><ul><li>It should be motivating. </li></ul><ul><li>It should be distinctive. </li></ul><ul><li>It should indicate how objectives are to be accomplished. </li></ul><ul><li>objectives . </li></ul><ul><li>Characteristics of objectives. </li></ul><ul><li>Objectives helps to define the organization in its environment. </li></ul><ul><li>Justify their existence to their stakeholders in the environment. </li></ul><ul><li>Provide standards for assessing organizational performance. </li></ul>
    45. 45. <ul><li>THANK YOU </li></ul>
    46. 46. <ul><li>QUESTIONS PLEASE!!! </li></ul>

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