MISSION AND VISION STATEMENTS

•     MISSION AND VISION STATEMENT
STRATEGIC MANAGEMENT/BUSINESS POLICY

•     DR. SHASHI AGGARWAL

v    MEANING AND DEFINITION OF VISION

•     VISION STATEMENT DESCRIBES THE DESIRED FUTURE POSITION OF COMPANY.IT COMMUNICATES ABOUT YOUR LONG GOALS. IT IS VIVID AND MENTAL IMAGE OF WHAT YOU WANT YOUR BUSINESS TO BE AT SOME POINT OF TIME,BASED ON YOUR GOALS AND ASPIRATIONS.

•     A VISION STATEMENT IS A COMPANY’S ROAD MAP INDICATING WHAT THE COMPANY WANTS TO BECOME IN FUTURE AND PROVIDES DIRECTION  FOR THE COMPANY’S GROWTH

•     VISION FOCUSES ON WHAT DO WE WANT TO BECOME

•     MISSION ON WHAT IS OUR BUSINESS.

v    MEANING OF VISION

•     KOTTER DEFINES AS A DESCRIPTION OF SOMETHING (AN ORGANIZATION, CORPORATE CULTURE BUSINESS,A TECHNOLOGY ,AN ACTIVITY) IN THE FUTURE.

•     MENTAL PERCEPTION OF THE KIND OF ENVIRONMENT AN INDIVIDUAL OR AN ORGANIZATION ASPIRES TO CREATE WITH IN A BROAD TIME HORIZON AND UNDERLYING CONDITIONS FOR THE ACTUALIZATION OF THAT PERCEPTION.

•     FEATURES OF VISION

1.       IT IS ROAD MAP AND BLUE PRINT OF THE LONG TERM GOALS OF THE ORGANIZATION

2.       FORWARD LOOKING

3.       SPECIFIC AND PROVIDE MOTIVATION AND GUIDELINES TO ALLOCATE THE RESOURCES TO ACHIEVE

4.       NARROW  AND CLEAR VISION

5.       SHOULD BE EASY TO EXPLAIN ALL STAKE HOLDERS

•     NATURE OF VISION

•     A VISION SHOULD BE:-

1.       AN ORGANIZATION CHARTER OF CORE VALUE AND PRINCIPLES

2.       THE ULTIMATE SOURCE OF OUR POLICIES, PLANS AND GOALS

3.       A PULLER INTO THE FUTURE

4.       A DETERMINATION AND PUBLICATION OF WHAT MAKES US UNIQUE

5.       A DECLARATION OF INDEPENDENCE

•     NATURE OF VISION

•     A VISION SHOULD NOT BE:-

1.       A HIGH CONCEPT STATEMENT

2.       A STRATEGY OR PLAN AND A VIEW FROM THE TOP

3.       A HISTORY OF OUR PROUD PAST

4.       A SOFT BUSINESS ISSUE

•     PASSIONLESS

v    PURPOSE OR FUNCTION OF THE VISION

•     SERVE AS FOUNDATION FOR A BROADER STRATEGIC PLAN

•     PROVIDE MOTIVATION

•     FOCUS COMPANY’S EFFORTS AND DEVELOPMENT OF CORE COMPETENCIES

•     HELP COMPANY DIFFERENTIATE FROM COMPETITORS

•     PROCESS OF ENVISIONING

•     IT IS THE PROCESS OF CREATING VISION. A WELL CONCEIVED VISION MUST HAVE

•               CORE IDEOLOGY:-ENDURING NATURE. IT CONSIST OF CORE VALUES AND CORE PURPOSE. CORE VALUE MEANS PHILOSOPHY OF MANAGEMENT AND CORE PURPOSE MEANS THE OVER ALL REASON OF THE ORGANIZATION

•               ENVISIONED FUTURE:- THE LONG TERM OBJECTIVES OF THE ORGANIZATION AND CLEAR  DESCRIPTION OF ARTICULATED FUTURE

•     WELL CONCEIVED VISION

•     MEANING

•     CORE IDEOLOGY : COMMON ATTRIBUTE OF COMPANIES THAT ARE BUILT TO LAST . WHICH MEANS AN ENDURING CORE IDEOLOGY THAT SERVICE AS SOURCE OF GUIDANCE

1.       CORE VALUES :-AN ORGANIZATION’S GUIDING PRINCIPLES

2.       CORE PURPOSE :- AN ORGANIZATION’S MOST FUNDAMENTAL REASON FOR BEING IN EXISTENCE

CORE VALUES : SERVE THE CLIENT.SUPPORT THE EMPLOYEE,STRENGTHEN THE COMMUNITY

CORE PURPOSE :- IS BIGGER THAN A CHARISMATIC LEADER,PRODUCT OR SERVICE

IDEA OF WHO YOU ARE AS COMPANY AND WHY YOU EXIST. THE IDEA IS TO MOTIVATE AND LEAD THE PEOPLE

•     BENEFIT

1.       GIVES INSPIRATION

2.       REPRESENT A DISCONTINUITY

3.       HELPS IN CREATION OF IDENTITY

4.       HELPS IN TAKING RISK

5.       LONG TERM THINKING

6.       REPRESENT INTEGRITY

•     LIMITATION

1.       VAGUE AND INCOMPLETE

2.       NOT FORWARD LOOKING

3.       TOO BROAD

4.       UNINSPIRING

5.       NOT UNIQUE

•     RELIANCE JIO VISION

1.       TO BE OUR CLIENT’S FIRST CALL AND PREFERRED COLLABORATION PARTNER WITHIN OUR BUSINESS AREAS.

2.       TO CONSISTENTLY EXCEED OUR CLIENT’S EXPECTATION FOR PROFESSIONAL AND VALUE ADDED SERVICES.

3.       OUR OBJECTIVE IS LONG  STANDING AND TRUSTFUL CLIENT RELATIONSHIP CREATED VIA EXCELLENT  ADVICE AND SERVICE

•     RELIANCE JIO

•     VALUE

1.     QUALITY

2.     INNOVATION

3.     AMBITION

4.     HONESTY

5.     INTEGRITY

•     MISSION

•     MISSION IS WHAT AN ORGANIZATION AND WHY IT EXIST?

•     THOMPSON DEFINES MISSION AS” ESSENTIAL PURPOSE OF THE ORGANIZATION, CONCERNING PARTICULARLY WHY IT IS IN EXISTENCE, NATURE OF THE BUSINESS IT IS IN AND THE CUSTOMERS IT SEEKS TO SERVE AND SATISFY.

•     HUNGER AND WHEELEN”, MISSION IS THE PURPOSE OR REASON FOR THE ORGANIZATION’S EXISTENCE.

•     A MISSION STATEMENT IS A SHORT STATEMENT OF AN ORGANIZATION’S PURPOSE, IDENTIFYING THE SCOPE OF ITS OPERATIONS, WHAT KIND OF PRODUCT OR SERVICE IT PROVIDES. ITS PRIMARY CUSTOMERS OR MARKET AND ITS GEOGRAPHICAL REGION OF OPERATION.

•     ACCORDING TO CHRIS BART A MISSION STATEMENT CONSISTS OF THREE ESSENTIAL COMPONENTS:-

1.       KEY MARKET

2.       CONTRIBUTION

3.       DISTINCTION

•     NEED FOR CLEAR AND WRITTEN STATEMENT

1.       IT DETERMINES THE COMPANY’S DIRECTION

2.       IT FOCUSES THE COMPANY’S FUTURE

3.       IT PROVIDES A TEMPLATE FOR DECISION MAKING: FRAMEWORK IN WHICH THE DECISIONS ARE TO BE MADE

4.       IT FORMS THE BASIS FOR THE ALIGNMENT

5.       IT WELCOMES HELPFUL CHANGE

6.       IT SHAPES STRATEGY

7.       IT FACILITATES THE EVALUATION AND IMPROVEMENT

•     DIFFERENCE FROM VISION

•     VISION IS MORE BROAD AS IT CONCERN WHERE  THE ORGANIZATION WANT TO BECOME IN THE FUTURE BUT MISSION IS MORE FOCUSED IT DEFINE THE SCOPE OF THE ORGANIZATION AND MORE FOCUSED ON WHAT IS OUR BUSINESS

•     FEATURES

1.       FEASIBLE:-: SHOULD BE REALISTIC NOT IMPOSSIBLE

2.       CLEAR AND PRECISE: NEITHER SHOULD BE NARROW OR BROAD

3.       MOTIVATING:

4.       DISTINCTIVE

5.       MAJOR COMPONENT OF STRATEGY

6.       HOW OBJECTIVES ARE ACCOMPLISHED

•     DESIGN

1.       WHAT DO WE DO?

2.       HOW DO WE DO?

3.       WHOM DO WE DO IT FOR?

4.       WHAT VALUES ARE WE BRINGING

•     FORMULATING MISSION

1.       WHAT IS THE BASIC PURPOSE OF OUR ORGANIZATION?

2.       WHAT IS  SO UNIQUE ABOUT OUR ORGANIZATION?

3.       WHAT IS ON OUR COMPANY THAT IT WILL MAKE DIFFERENT FROM OTHERS?

4.       WHO ARE AND WHO SHOULD BE OUR PRINCIPAL CUSTOMERS?

5.       WHAT ARE THE BASIC BELIEFS,VALUES AND PHILOSOPHICAL PRIORITIES OF YOUR FIRM?

•     IMPORTANCE

•                 A COMPANY’S MISSON STATEMENT IS STATEMENT OR PURPOSE OF THE ORGANIZATION.

•                 IT SERVES AS A GUIDE FOR COMPANY’S DECISION MAKING

•                 THE COMPANY GENERATE SHORT TERM AND LONG TERM OBJECTIVES USING THE MISSION STATEMENT

•                 IT DEVELOP STRATEGIES TO ACHIEVE THE OBJECTIVES

•     COMPONENTS OF MISSION STATEMENT

1.       PRODUCT OR SERVICES:- WHICH THE COMPANY OFFERS TO THE PUBLIC

2.       CUSTOMERS:- DESCRIBES THE PROFILE OF THE CUSTOMERS AND THE ORGANIZATION IT SERVES

3.       TECHNOLOGY: MEANS OF PRODUCTION,OPERATION AND ORGANIZATIONAL FUNCTIONS

4.       SURVIVAL,GROWTH AND PROFITABILITY

5.       COMPANY’S PHILOSOPHY:-REFLECT THE BASIC VALUE SYSTEM,ASPIRATION AND ETHICAL THINKING

6.       PUBLIC IMAGE:-HOW THE COMPANY WISHES TO BE VIEWED BY SOCIETY

7.       EMPLOYEE: CONCERN ABOUT ITS EMPLOYEES

•     ADVANTAGES

1.       PROVIDES DIRECTION

2.       CLEAR PURPOSE

•     DISADVANTAGES:-

1.       UNREALISTIC

2.       WASTE OF TIME AND RESOURCES

•     MISSION STATEMENT OF HINDUSTAN UNILERVER LTD

•     WE MEET EVERYDAY NEEDS FOR NUTRITION,HYGIENE AND PERSONAL CARE WITH BRANDS THAT HELP PEOPLE FEEL GOOD,LOOK GOOD AND GET MORE OUT OF LIFE. SUSTAINABILITY IS AT THE HEART OF OUR BUSINESS AND THROUGH OUR BRANDS WE SEEK TO INSPIRE PEOPLE TO TAKE SMALL EVERY DAY ACTIONS THAT CAN ADD UP TO A BIG DIFFERENCE FOR THE WORLD.

•     MISSION STATEMENT OF AMAZON.COM

•     FOCUSED ON THE CUSTOMER

•     THE MISSION STATEMENT OF AMAZON.COM CENTRE AROUND THE ONE THING THAT IS ALWAYS BEEN MOST IMPORTANT-THE ONLINE AMAZON.COM CUSTOMER

•     SOME MORE EXAMPLE

•     AMERICAN EXPRESS:-WE WORK HARD EVERY DAY TO MAKE THE AMERICAN EXPRESS THE WORLD’S MOST RESPECTED SERVICE BRAND

•     JET BLUE:- TO INSPIRE HUMANITY BOTH IN THE AIR AND ON THE GROUND

•     TED : SPREAD IDEAS