Develop the Vision-Mission for the Future


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DM 214 Strategic Planning Module 11. Formulating and Adopting strategies

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Develop the Vision-Mission for the Future

  1. 1. 1 Develop the DM 214 Strategic Planning 1st Semester 2013 Module 11 Formulating and Adopting Strategies
  2. 2. 2 Reported by: Brenda G. Paderes Ronald O. Acosta
  3. 3. 3 …Definitions Vision - a guiding concept of what the organization is trying to achieve, where it wants to be in the future. - is seeing a future state with the mind’s eye. - is applied imagination.
  4. 4. 4 …Definitions (cont…) Vision - it sees opportunity inside the challenge. - it represents desires, dreams, hopes, goals & plans for the future. - it’s like a blueprint of a house before it is built.
  5. 5. 5 Developing a Strategic Vision  Involves thinking strategically about  Firm’s future business plans  Where to “go”  Tasks include  Creating a roadmap of the future  Deciding future business position to stake out  Providing long-term direction  Giving firm a strong identity
  6. 6. 6 Characteristics of a Strategic Vision  Charts a company’s future strategic course  Defines the business makeup for 5 years (or more)  Specifies future technology- product-customer focus  Indicates capabilities to be developed  Requires managers to exercise foresight
  7. 7. 7 Entrepreneurial Challenges in Forming a Strategic Vision  How to creatively prepare a company for the future  How to keep the company responsive to  Evolving customer needs  Competitive pressures  New technologies  New market opportunities  Growing or shrinking opportunities
  8. 8. 8 …Definitions Mission - is a statement of purpose to reach your vision.  a statement of the purpose of a company or organization  guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-making  organization's purpose, its raison d'etre or reason for existing
  9. 9. 9 …Definitions Mission - A company's mission is its reason for being. The mission often is expressed in the form of a mission statement, which conveys a sense of purpose to employees and projects a company image to customers. In the strategy formulation process, the mission statement sets the mood of where the company should go.
  10. 10. 10 Characteristics of a Mission Statement  Defines current business activities  Highlights boundaries of current business  Conveys  Who we are,  What we do, and  Where we are now  Company specific, not generic — so as to give a company its own identity A company’s mission is not to make a profit ! The real mission is always—“What will we do to make a profit?”
  11. 11. 11 Defining a Company’s Business  A good business definition incorporates three factors  Customer needs -- What is being satisfied  Customer groups -- Who is being satisfied  Technologies and competencies employed -- How value is delivered to customers to satisfy their needs
  12. 12. 12 Your VISION — MISSION Statement Should include the best of both
  13. 13. 13 Communicating the Vision—Mission  An exciting, inspirational vision  Challenges and motivates workforce  Arouses strong sense of organizational purpose  Induces employee buy-in  Galvanizes people to live the business
  14. 14. 14 Strategic Visions vs. Missions  A strategic vision concerns a firm’s future business path -- “where we are going”  Markets to be pursued  Future technology- product-customer focus  Kind of company that management is trying to create  A mission statement focuses on current business activities -- “who we are and what we do”  Current product and service offerings  Customer needs being served  Technological and business capabilities
  15. 15. 15 Ref: Translating the vision & mission Into Strategic Direction
  16. 16. 16 Managerial Value of a Well-Conceived Strategic Vision and Mission  Crystallizes long-term direction  Reduces risk of rudderless decision-making  Conveys organizational purpose and identity  Keeps direction-related actions of lower-level managers on common path  Helps organization prepare for the future
  17. 17. 17 of an Electric Cooperative Examples of Vision/Mission
  18. 18. 18 Our Vision and Mission Statements Vision  We envision of becoming the outstanding electric cooperative (in the Philippines) with the most reliable and competitive power rate using the modern technology in providing excellent service. Mission  To deliver quality service and affordable power rate for the satisfaction and delight of member-consumers. Pangasinan III Electric Cooperative
  19. 19. 19 Vision  A competitive and financially viable electric distribution utility in an environment of open access and retail competition. Mission  Effective, reliable service through unity, cooperation and commitment. Central Pangasinan Electric Cooperative Examples: Vision and Mission Statements
  20. 20. 20 Vision  “BENECO shall be a model electric cooperative, delivering quality service in order to sustain a progressive and ecologically sound community.” Mission  “We commit to extend our lines and services to all areas of Baguio City and Benguet Province. We continuously engage in the development of our resources in consonance with and in adherence to standards.” Benguet Electric Cooperative, Inc.
  21. 21. 21 Vision  To become a globally competitive electric distribution utility providing the best quality service to its progressive communities and satisfied consumers. Mission  To electrify all households within its coverage area and continually adopt innovative ideas that will ensure a reliable, affordable and efficient electric service to all its consumers. Nueva Ecija 2 Electric Cooperative, Inc.
  22. 22. 22 Vision  To be recognized as a leading, caring and committed electric cooperative. Mission  To be a provider of quality and dependable supply of electricity at a reasonable cost;  To be a leading partner of our government in improving the quality of life of our member-consumers, in promoting progress; and in sustaining development; and  To be the steward of welfare of our member-consumers by providing them mindful, accurate and prompt service.
  23. 23. 23 Vision  “A responsible leader in utility service“ Mission  "Committed to provide our customers with reliable, efficient and responsive electric service at reasonable cost“. La Union Electric Company
  24. 24. 24 Vision  A dynamic light distributor and service delight for life. Mission  To uplift the status and quality of life by providing Efficient, reliable, safe and affordable power for member-consumer ‘s satisfaction. Zambales II Electric Cooperative, Inc.
  25. 25. 25 Vision  An electric cooperative with highly- professionalized services for customer delight. Mission  To deliver quality electric service for the cooperative's area coverage up to the last sitio as well as the delight of its customer and manpower. Bohol Electric Cooperative, Inc.
  26. 26. 26 . Ilocos Norte Electric Cooperative VISION  “To be the preferred distribution utility in an open-access environment. “ MISSION  “ We are committed to our member- consumers to provide safe, reliable and efficient electric service at a reasonable cost through dedicated officers and employees. "
  27. 27. 27 Pangasinan III Electric Cooperative  We envision of becoming the outstanding electric cooperative (in the Philippines) with the most reliable and competitive power rate using the modern technology in providing excellent service.  To deliver quality service and affordable power rate for the satisfaction and delight of member- consumers.
  28. 28. 28 Vision and why it matters?  guiding concept of what the organization is trying to achieve  seeing a future state  opportunity inside a challenge  desires, dreams, hopes, goals for the future  long term direction  strong identity
  29. 29. 29 Organizational Core Values of PANELCO III  Honesty  Unity  Thrift  Commitment
  30. 30. 30 Value Formation Core Team  VFCT was created by PANELCO III purposely to: 1. assist management in the resolution of critical issues and concerns of its operation; 2. serve as role models in the practice of cooperative values; 3. monitor effectiveness of the prescribed core values and innovate strategies/approaches; and 4. conduct bench marking activities relative to core values enhances enhancement from other successful organization
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