Vision, Mission, Goals & Business Objectives

Hareram Kumar

Strategic intent
Strategic intent envisions a desired leadership position and establishes the criterion the organisation will use to char its progress.
Why Japanese firms have overruled American and European firms; since they believe in having an obsession to win: sometimes having obsession out of proportion to their resources and capabilities Hamel & prahlad,1989

Attributes of strategic intent

Sense of direction Sense of discovery Sense of destiny

Most integrative

Fewest in number

vision

mission

goals

objectives plans Most specific Greatest in number

vision
Starting point of expressing an organizations strategic intent a mental image of what the future will or could be like Organizations projections Acc to Burt Nanus, expert of organizational vision , vision is Realistic, credible and attractive future of an organisation

 Acc to Oren Harari Vision should describe a set of ideals and priorities, a picture
of the future, a sense of what makes the company special and unique, a core set of principles that the company stands for and a broad set of compelling criteria's that will help define organizational success Two more dimensions Core set of principles Criteria for measuring success

features
Idealistic Clear direction Inspirational Uniqueness Well articulated

Role in strategy formulation

Provides clue for an organisation to head for in future Place organisation in unique position Source of inspiration

RIL To achieve global leadership in polymers, fibers and resin businesses through innovative and technology development in materials, products and applications through efficient, disciplined ,target oriented and cost effective R&D activities. Infosys tech. To be a globally respected company that provides best-in-breed software solutions by best in class people TATA tea To be indias foremost tea based company

Mission
Reason for existence

Acc to Thompson mission is the essential purpose of an organisation,

concerning particularly why it is in existence ,the nature of businesses it is in and the customers it seeks to serve and satisfy

Vision vs Mission
Vision is fore ward looking view of organisation what it wants to become; Mission states what the organization is and why it exists Vision emphases on long term concepts; mission deals with how organization will interact

Mission and role in strategy formulation

Deciding direction Clarify aspirations Reference point in dealing Integrating organisation and environment Integrating subsystems Clear message to outsiders

Characteristics

Clear Precise Feasible Motivational Directional

ELEMENTS
Organizations self concept Organizational philosophy Organizational image Long term objectives Nature of business

 Hero-Honda
It is our mission to strive for synergy between technology, systems and human resources to produce products and services that meet quality, performance and price aspirations of our customers, while doing so, we maintain the highest standards of ethics and societal responsibilities. this mission is what drives us to new heights in excellence and helps us to forge a unique and mutually beneficial relationships with all our stakeholders. We are committed to move ahead resolutely on this path

Business definitions
Where to go, what exactly to do. Focus and differentiation

textiles

Personal wears suitings shirtings sarees Under garments

Non-wears

cotton

silk

synthetics

High priced

Medium priced

Low priced

Corporate business definitions

company Hindustan unilever Kodak india Hero cycles Indian oil Bharti airtel products FMCG Business definitions To meet everyday needs of people everywhere with branded products Quality oriented photographic system, appealing to customers Functionally valuable bicycles affordable to common people To provide various types of safe and cost effective energy To provide multiple forms of reliable, efficient and inexpensive telecom services.

CAMERAS

BICYCLES PETRO PRODUCTS TELECOM

Acc. To peter Drucker

1) who is the customer Where is customer located How does customer buy How can customer be reached 2 )what does the customer buy 3)what does customer value

ABELLS definition
What is our business is not determined by producer but by consumerby the want the consumer satisfies when he buys a product/service There is only one boss i.e. customer he can fire anybody in an organisation simply by spending money somewhere elsesam walton Customer group

Customer function

Alternate technology

Assignment 1 Develop the vision, mission, goals and business objective along with anticipative and suggestive plans, for an enterprise of your choice that you are dedicated to launch in future. the study needs to be comprehensive and feasible.
a step towards professional entrepreneurship THINK LOGICALLY THINK FAST THINK RELIABLY