Case Brief

The Total company is an old company with diversified operations. The company is having real success but now they are faced with problem of vision formulation. The company have vision in the mind of Mr. Kumar but not properly documented. Now they are trying to develop one common vision for all their businesses.

Total Industries : Profile

Chairman: Deepak Kumar Main headquarters: Mumbai Conglomerate worth 6,000 Crore Main business: Consumer Electronics, Switchgears, Batteries, Soaps And Oils Leading business: Consumer Electronics, 1/5 market share

Legacy business:

Soaps And Oils.

Current strategy: Diversified Operations

Terminology
Establishment day jamboree Splurged on employees Get-together Camaraderie Benevolent employer Cost competitive Re-vitalize the organization

Terminology
Revisit our basics High brand recall Unprofessional and ad-hocist Legacy business (soaps and oils) Non premium image Management mumboo-jumboo Turnaround Economy plank

Positive points of case

Alert management Participative management Far sighted / insightful owners (family business) Diversified business Employee motivation pracetice

Need for exercise

Business responsibility being transferred to next generation Transfer of knowledge to son Training of son

Question 1: What should be the basis of the vision statement of Total Industries: value for money or anything else?

Answer - 1
Options available
Value for Money Customer satisfaction Market leadership Product image Company image Others

Answer 1 (cont)
Features Of the Vision Statement Organizations fundamental reason for existence beyond just making money Timeless and unchanging core values

Core values remains unchanged as the firm experiences changes in technology, competition, management style.
Big picture but achievable aspirations for the future

Answer 1 (cont)
Total Industries: Vision should be based on
Value for money Market leadership through volume and innovation

Question 2? How can total industry develop a meaningful shareable vision for all its component businesses?

Shared vision
All individuals in an organization have common mental image and mutually supported set of aspirations that form basis of united efforts. People at all levels share common inspirational image that compels them to give their best and realize the dreams.

All business units to have common platform

How to develop the shared vision? Senior managers to brainstorm and develop broad frame work and statement Word craft it into simpler and in few words so that every body can carry it on person To popularize it, the Posters, Stickers to be displayed at every noticeable place of organizations like walls, entrances, offices, canteens, notice boards, production floors etc Involvement of all level employees, especially low level managers

Question 3: Is it possible to develop the vision statement through active employee involvement and participation? If yes outline steps in sequential way?

Ways of employee involvement

Suggestion boxes Open competition Forming of teams at each unit level Volunteers Inter unit and business competition Task forces at all levels having cross functional character

Steps In Formulation:
Schedule of events: open competition and unit level competition Evaluation by board and select best Hold ceremony to reward best vision statements Task force to develop the overall statement Circulate to all participants for comments Adopt it

Question 4: What are the dangers of building a vision statement through bottom up process?

Answer - 4
Advantages and disadvantages of participative management.

Question 5? Is it possible for anyone to build a business without an articulated vision?

Answer - 5 Yes and no both. Yes example of total industries Number of advantages of having documented vision and mission statements

Assignment
Developing

The Vision And

Mission Statement of

Bahria University

Common lines for vision of university

Learning center Knowledge house Research center Solution center for industry Development center for nations youth Renowned / highly qualified faculty.