COMPANY’S VISION AND MISSION

An organization's vision and mission
act as guidelines for strategy formulation.
- The proce...
Vision:
 A strategic vision is a road map showing
the route a company intends to take in
developing and strengthening its...
The Mission Statement :( business purpose)
 A well designed mission statement talks about
–
what needs of the customer ar...
The vision statement should reflect the concerns
of all stakeholders like shareholders, employees,
customers, the local co...
Characteristics of an Effectively Worded
Vision statement:
 Graphic, directional, focused, flexible, feasible,
desirable ...
Examples of strategic Vision statements :
GENERAL ELECTRIC:
We will become number one or two in every market we
serve, and...
Goals and objectives:
To be meaningful, goals should be SMART
 S= specific
 M= measurable
 A= assignable
 R= realistic...


Examples of company objectives.
(strategic and financial objectives)
UNILEVER: Grow annual revenues by 5-6 % annually; ...
COMPANY VALUES


A company’s values are the beliefs, business
principles, and practices that guide the conduct of its
bus...
WHY VALUE STATEMENTS
ARE GROWING IN
IMPORTANCE
 The

Enron scam.
 The Arthur Andersen Scam
 The World Com, Tyco ,
 Sat...
Upcoming SlideShare
Loading in …5
×

Top management perspective 3

861 views

Published on

Published in: Business
  • Be the first to comment

  • Be the first to like this

Top management perspective 3

  1. 1. COMPANY’S VISION AND MISSION An organization's vision and mission act as guidelines for strategy formulation. - The process of strategy formulation involvesarticulating a vision for the organization, - translating the vision into a mission that defines the organization's purpose, - converting the mission into performance objectives & goals - formulating tactics and strategy for accomplishing the goals.
  2. 2. Vision:  A strategic vision is a road map showing the route a company intends to take in developing and strengthening its business. It paints a picture of a company’s destination and provides a rationale for going there. A strategic vision portrays a company’s future business scope (“ where are we going” ) “ What sort of future do we want to create “
  3. 3. The Mission Statement :( business purpose)  A well designed mission statement talks about – what needs of the customer are satisfied? (customer needs) For whom it is served ? (customer groups) how does the enterprise create and deliver value? Basically a mission statement refers to – What do we do ?/ What business are we in ?
  4. 4. The vision statement should reflect the concerns of all stakeholders like shareholders, employees, customers, the local community and society in order to be effective.  The vision of the company should also try to streamline and correlate the personal goals of employees with organizational goals to the extent possible. 
  5. 5. Characteristics of an Effectively Worded Vision statement:  Graphic, directional, focused, flexible, feasible, desirable ,easy to communicate.  Common shortcomings in Company vision statements Incomplete, vague, not distinctive, too generic and so broad.
  6. 6. Examples of strategic Vision statements : GENERAL ELECTRIC: We will become number one or two in every market we serve, and revolutionize to have the speed and agility of a small enterprise. NIKE: To bring innovation and inspiration to every athlete in the world. HEINZ: Our vision is to be the world’s premier food company, offering nutritious, superior tasting foods to people everywhere. Being a premier food company does not mean being the biggest but it does mean being the best in terms of consumer value, customer service, employee talent, and consistent and predictable growth.
  7. 7. Goals and objectives: To be meaningful, goals should be SMART  S= specific  M= measurable  A= assignable  R= realistic  T= Time frame 
  8. 8.  Examples of company objectives. (strategic and financial objectives) UNILEVER: Grow annual revenues by 5-6 % annually; increase operating profit margins from 11% -16% within 5 years; trim the company’s 1200 food, household, and personal care products down to 400 core brands; focus sales and marketing efforts on those brands with potential to become respected, market leading global brands; and streamline the company’s supply chain 3M: To achieve annual growth in earnings per share of 10% or better, on average; a return of stockholder’s equity of 20-25 %; a return on capital employed of 27 % or better; and have at least 30 % of sales come from products introduced in the past four years
  9. 9. COMPANY VALUES  A company’s values are the beliefs, business principles, and practices that guide the conduct of its business, the pursuit of its strategic vision, and the behaviour of company personnel. By values it is meant the beliefs, business principles, and practices that are incorporated into the way the company operates and the behaviour of company personnel. Values relate to such things as treatment of employees and customers, integrity, ethics, innovativeness, emphasis on quality of service, social responsibility and community citizenship.
  10. 10. WHY VALUE STATEMENTS ARE GROWING IN IMPORTANCE  The Enron scam.  The Arthur Andersen Scam  The World Com, Tyco ,  Satyam , etc.  One of the big five worldwide- Arthur Andersen was renowned for its commitment to the highest standards of audit integrity, but its high profile audit failures and partner approval of shady accounting at Enron, World Com, etc , led to its demise.

×