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Strategic framework - strategic management - Manu Melwin Joy
The document outlines a strategic framework for management, emphasizing the importance of vision and mission statements in defining an organization's purpose and positioning. It provides definitions and characteristics of vision and mission, along with examples from notable companies. Additionally, it discusses strategic goals using Nike as a case study for setting specific and achievable objectives.
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Introduction to strategic management including framework and components like vision, mission, objectives, and goals.
Introduction to strategic management including framework and components like vision, mission, objectives, and goals.
Definition, significance, and characteristics of vision statements with a practical example from Hindustan Lever Ltd.
Definition, importance, characteristics of mission statements accompanied by an example from Ranbaxy Laboratories Ltd.
Explanation of strategic goals and the SMART criteria, illustrated by Nike's strategic goals.
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Strategic framework - strategic management - Manu Melwin Joy
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- 2. Prepared By Kindly restrictthe use of slides for personal purpose. Please seek permission to reproduce the same in public forms and presentations. Manu Melwin Joy Assistant Professor Ilahia School of Management Studies Kerala, India. Phone – 9744551114 Mail – manu_melwinjoy@yahoo.com
- 3. Strategic Framework Vision, mission,objectives and goals
- 4. Vision - Definition •Vision statement answers the question “What will success look like?”.
- 5. Characteristics of vision •A basis of performance. • Reflects core values. • Way to communicate.
- 6. Examples of visionstatement • Hindustan Lever Ltd – Our vision is to meet the everyday needs of people everywhere.
- 7. Mission - Definition •Mission statement is a statement of purpose and function. • It answers the following questions. – Why the organization does exist? – What is its value addition? – What is its function? – How does it want to be positioned in the market and minds of customer? – What business is it in?
- 8. Characteristics of mission •It draws on the belief systems. • It must be future oriented and portray your organization as it will be, as if it already exists • It must focus on one common purpose. • It must be specific to the organization, not generic.
- 9. Example of MissionStatement • Ranbaxy Laboratories Ltd – Our mission is to become a research based international pharmaceutical company.
- 10. Strategic Goals • Strategicgoals address the key question “ Where do we wish to arrive and when?”.
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- 12. Nike’s strategic goals •Protect Nike’s position as the number one athletic brand in America. • Build a strong momentum in the growing fitness market. • Intensify the company’s efforts to develop products that women need and want.