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GOOD MORNINGMission Statement, Vision Statement and Aim By: Ashikin, Elia and Maryam
DefinitionMission Statement Vision Statement• Simple declaration • Outlines a that broadly states business’s the underlying aspirations (where purpose of an it wants to be) in organization’s the distant future. existence.
PurposeMission Statement Vision Statement• To ensures some • To describe the best transparency for possible end result. In investors and reality (visualize employees alike so they something more can have some desirable than what you confidence as to any consider to be the best potential use of their possible outcome). resources be they capital investment or labour.
Mission Statement Vision Statement• To ensure that all • Designed to motivate, stakeholders are clear energize, and create a on the overarching captivating image of purpose of the where you see your company so everyone business heading in the can be focused on the future. same goals and objectives.
Mission Statement Vision Statement• When someone reads a • Helps to give you a mission statement in target for the mission of a business plan they are the company. looking to get a feel for • To stretch expectations the range of activities as well as aspirations that the company will enabling you to jump focus on, in other words out of your comfort its core purpose and zone . what it stands for. • As a framework for all excellent planning.
Analyze The Role of the Mission Statement and Vision Statement• Satisfying Customer Needs Focused on satisfying customer needs rather than being focused on the product. Products and technologies eventually become outdated, but basic market needs may last forever. A market-oriented mission statement defines the business in terms of satisfying basic customer needs.
• “Who” Our Customers are We target which group of customers that we want to sell the products or provide the service. These are relevant because they indicate the market to be served, the geographic domain to be covered, and the types of buyers the firm is going after.
• “What” Customer Needs Our Company is Trying to Satisfy A company should define the particular needs of those customers groups it wishes to satisfy. A product or service becomes a business when it satisfies a need or a want. (View from the company)
• “How” Our Company will Serve its Customers A company must know the means or technology by which it will serve the target market and satisfy the customer’s needs. By incorporating Who, What and How the firm will be perceived and act more customer & market-oriented. It will be perceived as a customer-satisfying entity, not a product- producing entity.
• Fits the Current Market Environment Missions should fit the current market environment. We need new leaders so now there are many service that provide soft skills such as Leadership programme.
• Our Competitive Advantage Competitive advantage arises from leveraging a firm’s unique skills and resources to implement value-creating strategy that competitors cannot implement as effectively. Our company should base its mission on a competitively superior internal strength or resource that the company performs well in comparison to its competitors.
• Distinctive Core Competencies The organization should base its mission on its distinctive competencies. A distinctive core competency is a competitively superior company resource that the company performs well in comparison to its competitors. It needs to stay focused on specific traits; quality, customer service, and on target or niche markets.
• Motivates and Inspires Employee Commitment Mission statements should be motivating. It should not be stated as making more sales or profits. A company’s employees need to feel that their work is significant and that it contributes to people’s lives. Visionary companies set a purpose beyond making money. Even though profits may not be part of these companies’ mission statements, they are the inevitable results.
• Make a profit begs the question “What will we do to make a profit?” To understand a company’s direction, we must answer “to make a profit doing what and for whom?” We need to be creative an innovative in creating new product and provide service. People always eager to try something unic.
• Realistic To avoid making the mission too narrow or too broad.• Specific, Short and Sharply Focused Must be specific. Vague or generic mission statements lack resonance and meaning. They won’t be remembered by anyone, and will likely be dismissed as too difficult to understand. Many mission statements are written for public relations purposes and lack specific, workable guidelines. It is a precise statement of purpose.
• Clear and Easily Understood Develop your mission statement to a “party level.” A simple, clear, “party level” mission statement can be used to tell people you meet at a party or on airplanes why your company exists. At the same time it needs to give your company team as a profoundly simple focus for everything it does as a firm.
• What We Want to be Remembered for A mission statement says what, in the end, you want to be remembered for. It is actually an epitaph in present tense. What would you want your epitaph to read some day? Your ideal can provide a profoundly simple insight into your purpose for existing today.
Definition of AIMS• The general long term goals of an organization.• Goals which you set for yourself to achieve in life/ the ultimate goal.• The goals of the corporation, company or organization. The long term aims may be accomplished by meeting annual, month or weekly goals.
Examples of AIMS1.“to provide high quality education to the local community”2.McDonald-• to serve good food in a friendly and fun environment• to be a socially responsible company• to provide good returns to its shareholders• to provide its customers with food of a high standard, quick service and value for money
DifferenceAims Objectives• Aims are what you • Objectives are what you want to achieve. will do to achieve E.g. I want to be a them. millionaire. • E.g. I want to sell this stock. So, an Aim would be the overall thing you want to eventually achieve.