Mission vision and objectives slide 1

 1. P1 Applying appropriate frameworks, analyse the impact and
influence of the macro environment on a given organisation and
its strategies.
 2. M1 Critically analyse the macro environment to determine and
inform strategic management decisions.
 3. D1 Critique and interpret information and data applying
environmental and competitive analysis to produce a set of valid
strategic directions, objectives and tactical actions
LO1 - Analyse the impact and influence which the macro
environment has on an organization and its business
strategies
Ziyath MCIM, MBA(UK) 1

 The business environment is multifaceted, complex
and dynamic in nature and has a far-reaching impact
on the survival and growth of the business.
 Proper understanding of the Social, Political, Legal
and Economic Environment helps the business in the
following ways:
Importance of Business Environment

 (a) Determining Opportunities and Threats
 (b) Giving Direction for Growth
 (c) Continuous Learning
 (d) Image Building
 (e) Meeting Competition
 (f) Identifying Firm’s Strength and Weakness
Importance of Business Environment
Cont’d

 Companies can compete in the Business Environment
through effective Business Strategy and Strategic
Planning.
 A business strategy typically is a document that
clearly articulates the direction a business will pursue
and the steps it will take to achieve its goals.
How can companies compete in the
Business Environment

 A business plan begins with an overall vision. From
the vision, a mission statement for the business is
constructed, usually the shorter and more precise the
better. A mission leads to specific goals
the business will achieve to accomplish its mission
and that in turn leads to strategy to achieve goals.

 In a standard business plan, the business
strategy results from goals established to support the
stated mission of the business.
 A typical business strategy is developed in three
steps: analysis, integration and implementation

 Alignment with the leadership team.
 Alignment with the Vision and Strategy
 Alignment with the whole organization.
Aligned strategy development
8Ziyath MCIM, MBA(UK)

 PESTEL
Political, Environmental, Social, Technological,
Economical and Legal
 Internal Environment analysis
Stakeholder Management inputs.
PESTEL

 Where are we now?
 Where are we going?
 What is going to get in our way?
 What do we need to do to get where we want to go?
Overview

 Where are you going?
 Why should you go there?
 What is winning?
If success was a place, How would
you know if you got there?

 Where do you see your organization in 3 – 5 years?
 What about 10 -25 years?
 What is a big goal that could polarize your team?
 One BIG target that everyone in the organization can
contribute to?
Vision

 Get your team to describe the vision of the
organization as clearly and vividly as possible.
 What do staff look like?
 What do clients look like?
 How else does your organization looks like different?
 Like blueprint for your house you build the design.
Vision

 A vision statement describes what a company desires
to achieve in the long-run, generally in a time frame of
five to ten years, or sometimes even longer. It.
What is Vision Statement

 McDonald's. “To be the best quick service restaurant
experience. Being the best means providing
outstanding quality, service, cleanliness and value, so
that we make every customer in every restaurant
smile.”
 LinkedIn: “Create economic opportunity for every
member of the global workforce.”
 Amazon: "To be Earth's most customer-centric
company where customers can find and discover
anything they might want to buy online.“
Example of Vision Statements

 Sri Lankan Airlines ,
To be Asia’s most customer-centric airline.
 Baraka Bio Extracts lanka
“To achieve excellence in providing effective herbal
remedies to the international market”
Example of Vision Statements

 A mission statement is a short statement of why an
organization exists, what its overall goal is, ...
Organizations normally do not change
their mission statements over time, since
they define their continuous, ongoing purpose and
focus.
What is Mission

 A typical mission statement contains three
components:
1. The overall purpose of your business – what are you
trying to achieve
2. What your business does – products and services it
provides.
3. What’s important to your business – the values your
business lives by
Components of Mission Statement

 Toyota America Mission Statement
"To attract and attain customers with high-valued products and
services and the most satisfying ownership experience in
America.“
 . Microsoft: Our mission is to empower every person and every
organization on the planet to achieve more.
 Sri lankan Airlines ,
 To delight our customers with a reliable and pleasant travel
experience with warmth and hospitality, the Sri Lankan way. We
strive to meet our stakeholder expectations as a competent,
proactive and diligent organization which is financially viable.
Example of Mission Statement

 Baraka Bio Extracts lanka
“To provide a range of herbal remedies to help people to
lead a happy & healthy life.”
 “To produce & market products of the highest quality
conforming to international regulation & standards.”
 Sri lankan Airlines
 To delight our customers with a reliable and pleasant travel
experience with warmth and hospitality, the Sri Lankan
way. We strive to meet our stakeholder expectations as a
competent, proactive and diligent organization which is
financially viable.
Example of Mission Statement

 Why do you exist?
 Who do you do it for?
 Who is your main customer?
 What do you do for them?
Mission

 Simple to understand
 No buzz words
 Its not a marketing Exercise
Mission

 What is the DNA of your organization?
 What do you value ?
 What are the culture and norms of your organization?
Values

 What values are important to the organization?
 How would you describe the organization if it were a
person?
 What is the way you do things around here ?
 What is not acceptable behavior?
 Values drive performance?
Values

 Sri Lankan Airlines,
Creativity, Diligence, Leadership, Proactiveness and
Accountability.
 Facebook,
 Focus on impact, Move fast, Be bold, Be open, Build
 Virgin Airlines,
 social value, We think customer, We lead the way, We
do the right thing, We are determined to deliver,
Together we make the difference
Example of Values

 Leadership
 Communication
 Resources
 Buy in
Push vs Pull
Risk to good Implementation

 Time
 Budget
 Human Resources
 Technology
 Other Constrains
Implementation constraints

 What are the uncertainty in our organization ?
 What are the impact of that uncertainty ( risk)?
 What is the likelihood of that happening ?
 What can we do to mitigate that risk?
Risks

What are the most important thing
you should be doing?

 Working backwards to create task and individual
areas of responsibility?
 How do you create work plans?
Creating Plan

 For companies to be successful, profitable and compete
effectively they must set goals and objectives for the
organization.
 What are Goal? –An organizational goal is the end-point
toward which activities are aimed. It is the target or end
that managers want to reach. Goals provide direction and
serve as a reference point. Goals are the raisin deter of
an organization
 What are Objectives -Objectives give the business a clearly
defined target. Plans can then be made to achieve these
targets. This can motivate the employees. It also enables
the business to measure the progress towards to its stated
aims.
Business Goals & Objectives

 In business, an objective refers to the specific steps a company will
take to achieve a desired result. The result is the goal. Hence the term
‘goals and objectives.’ In other words, my goal is what I want to
become, while my objective is how I plan to get there.
Example Adidas,
adidas has also set targets for 2020 and beyond, including:
In 2020, adidas will produce 15 to 20 million pairs of shoes using recycled
plastic waste from beaches and coastal regions, compared to more than
eleven million pairs in 2019, five million in 2018 and one million in 2017.
 SMART refers to the first letter of each of the five words listed below.
They describe what an objective must be:
 Specific: easy to understand and clear.
 Measurable: in other words, easy to quantify.
 Achievable: possible to be attained.
 Realistic: this one is similar to achievable. The aim must not be ‘pie in
the sky’.
 Time-bound: related to specific durations and dates.
Objectives

 Ethical and socially responsible objectives – organisations like the
Co-op or the Body Shop have objectives which are based on their
beliefs on how one should treat the environment and people who
are less fortunate.
Public sector corporations are run to not only generate a profit but
provide a service to the public. This service will need to meet the
needs of the less well off in society or help improve the ability of the
economy to function: e.g. cheap and accessible transport service.
Public sector organisations that monitor or control private sector
activities have objectives that are to ensure that the business they
are monitoring comply with the laws laid down.
Health care and education establishments – their objectives are to
provide a service – most private schools for instance have charitable
status. Their aim is the enhancement of their pupils through
education.
Charities and voluntary organisations – their aims and objectives are
led by the beliefs they stand for.
Alternative Aims and Objectives
Not all businesses seek profit or growth. Some organisations have alternative objectives.
Examples of other objectives:

 A business may change its objectives over time due to
the following reasons:
 A business may achieve an objective and will need to
move onto another one (e.g. survival in the first year
may lead to an objective of increasing profit in the
second year).
 The competitive environment might change, with the
launch of new products from competitors.
 Technology might change product designs, so sales
and production targets might need to change.
Changing Objectives

Objectives
 A business objective is a
specific outcome or
outcomes that is / are to be
achieved.
 Objectives capture the
specific goals of the
company. These are usually
listed and measured within
a specific time span. E.g. a
year or it could be within a
given month.
 Successful businesses are
based on both goals and
objectives, as they clarify
the purpose of the business
and help identify necessary
actions.
 Goals are general
statements of desired
achievement, while
objectives are the specific
steps or actions you take to
reach your goal.

 Goals are long-term aims you want to accomplish
 Objectives are concrete and can be measured.
 The goal is like the description of a destination and an
objective is a measure of the progress that is needed
to get to the destination; hence the goal is the
outcome.

 For example:
 A company goal is to be number one supplier of eggs
– whilst the objectives is to sell 10,000 eggs in a
quarter.

Example of Goals and Objectives

 To accomplish something very important we need to
set goals and objectives. Goals without objectives
can never be accomplished while objectives without
goals will never get you to where you want to be.
The concepts are separate but related and will help
you.
Difference between Goals &
Objectives

Difference Goals & Objectives

 1. Top level: Strategic goals,
 2. Middle level: Tactical goals, and
 3. Lower level : operational goals
Hierarchy of Goals

 These are the formal goals framed by top managers
and address issues related to the organization as a
whole. These goals ensure survival and successful
working of a business enterprise. According to
Drucker, there are eight major areas in which
organisations frame strategic goals. These are:
 Market standing, innovation, human resources,
financial resources, physical resources, productivity,
social responsibility and profit requirements.
1. Strategic goals:

 Each department sets specific goals to promote
overall organizational goals (strategic goals). Tactical
goals are the goals of specific departments framed by
middle-level managers. While strategic goals are
general in nature, tactical goals are specific. They are
stated in measurable terms.
2. Tactical goals:

 “Operational goals are targets or future end results set by lower
management that address specific, measurable outcomes
required from the lower level.”
 These goals are framed by lower-level managers for divisions or
sub-units of each department. As tactical goals help to achieve
strategic goals, operational goals help to achieve both strategic
and tactical goals. These levels of goals form a means-ends chain
where goals at lower levels provide a means to attain the ends
(goals) at the higher level.
 In the hierarchy of objectives, there should be complete
coordination of objectives at different levels of the ends – means
chain so that right means contribute to the right ends. Lack of
coordination can lead to goal distortion and goal displacement
3. Operational goals:

 Performance Measure Targets?
 What are the measure for your strategic Priorities?
 Relevant to the goal and strategy
 Placed in context of a target to be reached in an
identified time frame
 Capable of being tracked period after period
 Owned by the person who’s responsible for the goal
KPI

 Organizational Level
 Team Level
 Functional Level
 Individual Level
Cascading Goals

Big Picture vs. Practical Application

 Who are the key people in an organization that
responsible for functional areas?
 Where are the gaps as far as key functions ?
 Are there people responsible for more than one area?
People

 How are you going to share this strategic plan with
your organization?
 Keep in mind different people absorb information in
different ways
 Words
 Audio
 Pictures
Communicating the plan

 Write a Mission statement and Vision Statement for
the following each industry based company
 1. Tea industry
 2. Textile fashion design industry
Exercise 1

 On your own example of two companies goals and its
objective describe how it deprives?
 please email to ziyath@bcas.lk
Exercise 2

The End

Mission vision and objectives slide 1

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