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Mission of an Organisation
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What is the Mission of anorganisation?
Mission
the purpose or reason for the
organisations existencewhat the company is providing to
society, either as a service or as aproduct
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Mission statement
A well-conceived mission statement
defines the fundamental, unique
purpose that sets a company apart fromother firms of its type and identifies thescope of the companys operations in
terms of products offered and marketsserved
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Mission statement
Maytag Corporation
To improve the quality of home life
by designing, building, marketing, andservicing the best appliances in theworld Washers
Driers
Refrigerators
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Mission statement
Newport Shipbuilding
We shall build good ships here
at a profit if we can at a lossif we must but always good
ships(unchanged since 1886)
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Mission statement
Broad Mission Statement
3M"To solve unsolved problems innovatively
Merck"To preserve and improve human life
Wal-Mart
"To give ordinary folk the chance to buy the samething as rich people"
Walt Disney
"To make people happy"
These are the 'one-liners', but each is supported by a set of valuesthat set the performance standards and direct the implementation ofthe mission.
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Mission statement
Merck, a company that producespharmaceutical products and providesinsurance for pharmacy benefits, publiclystates the following values:
Corporate social responsibility
Unequivocal excellence in all aspects of the company
Science-based innovation
Honesty & integrity
Profit, but profit from work that benefits humanity
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Mission statement
Walt Disney, an entertainment businessstates their values as follows.
No cynicism
Nurturing and promulgation of "wholesomeAmerican values"
Creativity, dreams and imagination
Fanatical attention to consistency and detail
Preservation and control of the Disney "magic"
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Mission statement
Narrow Mission StatementClearly states the organisations primary business
Maytag Corporation To improve the quality of home life by
designing, building, marketing, and servicingthe best appliances in the world
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Mission statement
Broad mission statement may be toobroad to provide the focus needed todirect the companys activities
Narrow mission statement, byemphasising on products, may excludethe notion of a business served through
different products and technologies
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Vision
The Vision of a firm is a
picture of what it is intended
to be in future
Long term view of an image of
the company
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Objectives Goals and
Strategies
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Objectives
End results of planned activity
Quantified statements of what is to beaccomplished and by when
E.g., double sales value over aspecified number of years
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Goal
Open-ended statement of what is to beaccomplished with no quantification or time
criteriaE.g., increase profitability
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Objectives and Goals
Profitability (net profit)
Efficiency (low costs, etc.)
Growth (increase in total assets, sales,etc.)
Shareholder wealth (dividends plusstock price appreciation)
Utilization of resources (return oninvestment or equity)
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Objectives and Goals
Reputation (being considered top firm)
Contribution to employees (employmentsecurity, wages, diversity)
Contribution to society (taxes paid,
participation in charities, providing aneeded product or service)
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Objectives and Goals
Market leadership (market share)
Technological leadership (innovations,creativity)
Survival (avoid bankruptcy)
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Strategies
Strategy
comprehensive master plan stating howthe corporation will achieve its mission andits objectives