Mission, Vision and Strategy in organisations

Mission - Vision - Strategy Bart Van Loon 20th April 2010 Mission - Vision - Strategy 1 / 30

Outline The next ±60 minutes. . . 1 Who are you? 2 Deﬁnitions and Examples Values Mission Vision Strategy Tactics 3 Working out a Business Strategy Mission - Vision - Strategy 2 / 30

Who am I? Who am I? Bart Van Loon 2005: ﬁnished studies in Computer Science, Mathematics, Artiﬁcial Intelligence in Leuven 2006: Co-founded Villa Vespa 2007: Co-founded Zeropoint.IT 2009: Started The DataTank (Picture by Pitslamp.be) Mission - Vision - Strategy 3 / 30

Who am I? Villa Vespa Carefree Oldtimers Mission - Vision - Strategy 4 / 30

Who am I? Zeropoint.IT Qualitative HR without borders Mission - Vision - Strategy 5 / 30

Who am I? The DataTank Unlocking databases for an open society Mission - Vision - Strategy 6 / 30

Who are you? Entrepreneurship is a full-contact sport Mission - Vision - Strategy 7 / 30

Who are you? Success is not guaranteed Mission - Vision - Strategy 8 / 30

Who are you? But do you want to work, work, work. . . Mission - Vision - Strategy 9 / 30

Who are you? . . . for someone else? Mission - Vision - Strategy 10 / 30

Who are you? My Advice. . . take responsibility for your own destiny make a choice in life execute your own ideas Mission - Vision - Strategy 11 / 30

Who are you? Mission take responsibility for your own destiny → have a Mission make a choice in life execute your own ideas Mission - Vision - Strategy 11 / 30

Who are you? Mission - Vision take responsibility for your own destiny → have a Mission make a choice in life → deﬁne your Vision execute your own ideas Mission - Vision - Strategy 11 / 30

Who are you? Mission - Vision - Strategy take responsibility for your own destiny → have a Mission make a choice in life → deﬁne your Vision execute your own ideas → follow your Strategy Mission - Vision - Strategy 11 / 30

Deﬁnitions and Examples Hierarchy of Needs 1/5 Lifetime → Values Mission - Vision - Strategy 12 / 30

Deﬁnitions and Examples Core Values Who are we? Mission - Vision - Strategy 13 / 30

Deﬁnitions and Examples Core Values – Examples Amazon: Customer Obsession Innovation Bias for Action Ownership High Hiring Bar Frugality Mission - Vision - Strategy 14 / 30

Deﬁnitions and Examples Core Values – Examples Yahoo: Excellence Teamwork Innovation Customer Fixation Community Fun Mission - Vision - Strategy 14 / 30

Deﬁnitions and Examples Core Values – Examples Cynex: Mission - Vision - Strategy 14 / 30

Deﬁnitions and Examples Core Values – Examples Friotherm: Mission - Vision - Strategy 14 / 30

Deﬁnitions and Examples Core Values – Examples Masterlease: Mission - Vision - Strategy 14 / 30

Deﬁnitions and Examples Hierarchy of Needs 2/5 Lifetime → Values 20+ years → Mission Mission - Vision - Strategy 15 / 30

Deﬁnitions and Examples Mission Mission - Vision - Strategy 16 / 30

Deﬁnitions and Examples Mission A Mission Statement is a brief description of the higher goals of an organisation. It’s purpose is to improve the cohesion and coherence of an organisation. Mission - Vision - Strategy 16 / 30

Deﬁnitions and Examples Mission Why do we exist? Mission - Vision - Strategy 16 / 30

Deﬁnitions and Examples Mission – Examples Wal-Mart Stores: To help people save money so they can live better. Metro: To bring together people and products in all corners of the globe. Tesco: To create value for our customers to earn their lifetime loyalty. Mission - Vision - Strategy 17 / 30

Definitions and Examples Mission – Examples Gazprom: To ensure an efficient and balanced gas supply to consumers in the Russian Federation and fulfil its long-term contracts on gas export at a high level of reliability. EDF: To bring sustainable energy solutions home to everyone. Mission - Vision - Strategy 17 / 30

Deﬁnitions and Examples Mission – Examples Daimler: To produce cars and trucks that people will want to buy, will enjoy driving and will want to buy again. Honda: To seek technology that helps realize true peace and hapiness on earth. Mission - Vision - Strategy 17 / 30

Deﬁnitions and Examples Mission – Examples Google: To organize the world’s information and make it universally accessible and useful. Mission - Vision - Strategy 17 / 30

Deﬁnitions and Examples Try it yourself Mission - Vision - Strategy 18 / 30

Deﬁnitions and Examples Properties of a good Mission Statement short catchy, easy to remember inspiring ambitious realistic and measurable diﬀerentiating from competition Mission - Vision - Strategy 19 / 30

Deﬁnitions and Examples Hierarchy of Needs 3/5 Lifetime → Values 20+ years → Mission 5-20 years → Vision Mission - Vision - Strategy 20 / 30

Deﬁnitions and Examples Vision Mission - Vision - Strategy 21 / 30

Deﬁnitions and Examples Vision A Vision Statement outlines what the organization wants to be, or how it wants the world in which it operates to be. It concentrates on the future. Mission - Vision - Strategy 21 / 30

Deﬁnitions and Examples Vision What do we want? Mission - Vision - Strategy 21 / 30

Deﬁnitions and Examples Vision – Examples Wal-Mart Stores: To become the worldwide leader in retailing. Metro: To innovate through cooperation. Mission - Vision - Strategy 22 / 30

Deﬁnitions and Examples Vision – Examples Sony: To have the world look to Sony for comprehensive entertainment. Samsung: To lead the digital convergence movement. Mission - Vision - Strategy 22 / 30

Deﬁnitions and Examples Vision – Examples BMW: To be the most successful premium manufacturer in the industry. IBM: To be ﬁrst-and-foremost on any new enterprise data centre migration shortlist. Deutsche Post: To remain Die Post f¨r Deutschland as well as the logistics u company for the world. Mission - Vision - Strategy 22 / 30

Deﬁnitions and Examples Vision – Examples Starbucks: To inspire and nurture the human spirit – one person, one cup, and one neighborhood at a time. Nike: To bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete. Mission - Vision - Strategy 22 / 30

Deﬁnitions and Examples Try it yourself Mission - Vision - Strategy 23 / 30

Deﬁnitions and Examples Properties of a good Vision Statement speciﬁc achievable motivating guideline for daily decisions shapes organisation culture BHAG Mission - Vision - Strategy 24 / 30

Deﬁnitions and Examples Hierarchy of Needs 4/5 Lifetime → Values 20+ years → Mission 5-20 years → Vision 1-5 years → Strategy Mission - Vision - Strategy 25 / 30

Deﬁnitions and Examples Strategy Mission - Vision - Strategy 26 / 30

Deﬁnitions and Examples Strategy Strategy is the adoption of courses of action and the allocation of resources necessary for carrying out long-term goals and objectives of an organisation. Mission - Vision - Strategy 26 / 30

Deﬁnitions and Examples Strategy How will we do it? Mission - Vision - Strategy 26 / 30

Deﬁnitions and Examples Hierarchy of Needs 5/5 Lifetime → Values 20+ years → Mission 5-20 years → Vision 1-5 years → Strategy ±1 year → Tactics Mission - Vision - Strategy 27 / 30

Deﬁnitions and Examples Everyone should take it serious. . . Mission - Vision - Strategy 28 / 30

Working out a Business Strategy Closed-Loop Management System1 1 Develop 2 Translate 3 Plan 4 Monitor and Learn 5 Test and Adapt 1 Robert Kaplan & David Norton (2008). “Mastering the Management System”. In: Harvard Business Review. January 2008, Vol. 86 Issue 1 (2008): 62-77 Mission - Vision - Strategy 29 / 30

Working out a Business Strategy Closed-Loop Management System1 1 Develop the Strategy Deﬁne vision, mission and values (Conduct strategic analysis) Formulate strategy 2 Translate 3 Plan 4 Monitor and Learn 5 Test and Adapt 1 Robert Kaplan & David Norton (2008). “Mastering the Management System”. In: Harvard Business Review. January 2008, Vol. 86 Issue 1 (2008): 62-77 Mission - Vision - Strategy 29 / 30

Working out a Business Strategy Closed-Loop Management System1 1 Develop 2 Translate the Strategy Deﬁne strategic objectives and themes Select measures and targets Select strategic initiatives 3 Plan 4 Monitor and Learn 5 Test and Adapt 1 Robert Kaplan & David Norton (2008). “Mastering the Management System”. In: Harvard Business Review. January 2008, Vol. 86 Issue 1 (2008): 62-77 Mission - Vision - Strategy 29 / 30

Working out a Business Strategy Closed-Loop Management System1 1 Develop 2 Translate 3 Plan Operations Improve key processes Develop sales plan Plan resource capacity Prepare budgets 4 Monitor and Learn 5 Test and Adapt 1 Robert Kaplan & David Norton (2008). “Mastering the Management System”. In: Harvard Business Review. January 2008, Vol. 86 Issue 1 (2008): 62-77 Mission - Vision - Strategy 29 / 30

Working out a Business Strategy Closed-Loop Management System1 1 Develop 2 Translate 3 Plan 4 Monitor and Learn Hold strategy reviews Hold operational reviews 5 Test and Adapt 1 Robert Kaplan & David Norton (2008). “Mastering the Management System”. In: Harvard Business Review. January 2008, Vol. 86 Issue 1 (2008): 62-77 Mission - Vision - Strategy 29 / 30

Working out a Business Strategy Closed-Loop Management System1 1 Develop 2 Translate 3 Plan 4 Monitor and Learn 5 Test and Adapt the Strategy Conduct proﬁtability analysis Conduct strategy correlation analysis Examine emerging strategies 1 Robert Kaplan & David Norton (2008). “Mastering the Management System”. In: Harvard Business Review. January 2008, Vol. 86 Issue 1 (2008): 62-77 Mission - Vision - Strategy 29 / 30

Working out a Business Strategy Closed-Loop Management System Mission - Vision - Strategy 29 / 30

Let’s Connect! Contact me Bart Van Loon bart@zeropoint.it (+32) 472/94.14.34 http://bbbart.eu/blog twitter: @b b b a r t Mission - Vision - Strategy 30 / 30

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Mission, Vision and Strategy in organisations

by Bart Van Loon

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