mission objectives goals strategies of an

8/3/2019 Mission Objectives Goals Strategies of An

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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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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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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

mission objectives goals strategies of an

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