MISSION, VISION, VALUES & OBJECTIVES OF MEGHNA GROUP

Prepared fo
Professor Dr. A. K. M. Saiful Majid
Course Instructor
Business Strategy

Prepared by:
Raihan Ul Islam Shezan (Roll: 11, Batch 58D)
Abir Mohammad (Roll: 23, Batch 58D)
Zaheen Bin Mahmood (Roll: 33, Batch 58D)
Amina Noor Mimi (Roll: 50, Batch 58D)
Shehroze Islam (Roll: 55, Batch 58D)

Place of Submission:
Institute of Business Administration
University of Dhaka

23 February, 2019
Vision of the Meghna Group:

Vision Effective Elements Shortcomings

Be Bangladesh’s most 1. Focused 1. Not Graphic

admired & progressive 2. The journey is 2. Not forward
global conglomerate feasible looking
3. Doesn’t use overly 3. Does not make
broad language good business
sense
(3 positive points) 4. Lacks specifics
(vague or
incomplete
5. Use of bland or
uninspiring term
6. Generic
7. Relies on
Superlatives

(7 negative points)

Threshold:​ 66.67% Average Mark:​ 30% Result:​ Poor mission

(2 positive remarks (3 positive points against statement
against 1 negative) 7 negative points; 10
points in total)

Effective Elements of Vision:

1. The vision statement of the Meghna Group focuses on being most admired &
progressive global conglomerate. So managers can get a clear guidance in
making decisions and allocating resources.

2. The path and direction should be within the realm of what the company can
accomplish over time, a company should be able to demonstrate measurable
progress in achieving the vision. It is very feasible for Meghna Group to be
easily become the most admired and progressive global conglomerate.

3. This vision statement is short and concise, not giving birth to all-inclusive
language that gives the company license to pursue any opportunity.

Shortcomings of Vision:
 1. This vision statement is not graphic. It does not paint a clear picture of where
the company is headed and the market position(s) the company is striving to
stake out.

2. The statement is not forward-looking and directional. It does not describe the
strategic course that will help the company prepare for the future.

3. Talking about just being admired or keeping progress hardly is visionary in

terms of business sense. As a result the direction path does not reflect the
long-term interests of stakeholders (especially shareholders, employees, and
suppliers).

4. It is vague or incomplete. It has skimped on specifics about where the

company is headed or how the company intends to prepare for the future.

5. The vision statement uses bland or uninspiring terms such as “admired” or

“progressive”. As a result, it will likely fail to motivate company personnel and
inspire shareholder confidence about the company’s future.

6. This statement could apply to companies in any of several industries (or to any
of several companies in the same industry). So this is not specific enough to
provide any guidance.

7. This vision claims the the company’s strategic course is being “the most”
admired & progressive global conglomerate. This lacks specifics about the
path the company is taking to get there.

Mission of the Meghna Group:

Mission Effective Elements Shortcomings

Delighting our customers What we do? (2/10) Who we are? (0/10)

and maximizing value by Who is satisfied? (6/10) Why are we here? (0/10)
innovative solutions, How is it satisfied? What is satisfied? (0/10)
inspired employees, (7/10)
adaptation of
technological Marks: 0/30
advancements and living Marks: 15/30
in harmony with
environment.

Threshold:​ 6/10 Average Mark:​ 2.5/10 Result:​ Poor mission

statement

Effective Elements of Mission:

1. The mission statement describes what the company does using words
“maximizing value”. But this part does not fully describe the category of
operation of the company. The statement is vague and generic in describing
what the company does.

2. It describes who the company satisfies using words like “delighting our
customers” and “inspired employees” but the purpose of a company is also to
satisfy all the stakeholders, suppliers, government and others even remotely
involved with the company. So the statement does not fully capture the answer
to the question “Who is satisfied?”.

3. The statement describes how the company satisfies others using words “by
innovative solutions”, “adaptation of technological advancements” and “living
in harmony with environment”. This part does a good job of describing the
means of satisfying the customers and employees of the company.

Shortcomings of Mision:

A successful mission statement should also answer questions like -

❖ Who we are?
❖ Why are we here?
❖ What is satisfied?

These answers are missing from the mission statement of Meghna Group.

Values of Meghna Group:

A company’s values are the beliefs, traits, and behavioral norms that company
personnel are expected to display in conducting the company’s business and
pursuing its strategic vision and mission.
Most companies have articulated four to eight core values that company personnel
are expected to display and that are supposed to be mirrored in how the company
conducts its business. At Meghna Group, five core values are linked to its business,
which are:

1. Respect
2. Integrity
3. Customer Focus
4. Team Work
5. Keeping Promises

Objectives of Meghna Group:

1. To supplement public sector efforts in the industrialization of the country.

2. To produce quality consumer and industrial goods particularly for day-to-day

use and human consumption in an affordable price.

3. To earn foreign currency through export of finished products.

4. To reduce import dependencies of the country.

5. To generate employment and reduce poverty.

6. To promote socio-economic development of the country.

7. To ensure effective human resource management towards achieving the goals

and objectives of the group.

8. To help develop professional efficiency and specialization of MGI staff through

training.

9. To develop MGI as a market leader in quality products and competitive prices

and services.

10. To discharge Corporate Social Responsibilities (CSR) by promoting education,

assisting natural disaster affected people and sponsoring games and sports
and cultural events.