ptbma-strategy mission, vision and objectives-2

8/3/2019 PTBMA-Strategy Mission, Vision and Objectives-2

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4/23/12

C006 Hemant ShettyC012 Sudeesh MenonC028 Vikas PalC034 Karan BhavnaniC046 Prakash Sharma

47 Piyush Garud

*Vision, Mission andObjectives



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*Contents

*Vision

* Introduction

*Characteristics*Formulation

*Shortcomings

* Importance

*Application

*Communication of Vision

*Mission

* Introduction

* Importance

*Essentials

*Objectives

*Case Study



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*Introduction

*It describes a desirable state that a companywishes to attain in the future.



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*Characteristics of a Vision

*A vision is a photograph of the future

*It is a self-image that deals with what thebusiness wants to look like over the long rangefuture

*Business visions are realistic, credible andattractive to people within the organization

*Clarity and lack of ambiguity

*Realistic aspirations, achievable

*Alignment with organizational values andculture

*Time bound if it talks of achieving any goal orobjective



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*Formulation of Vision

*Learn everything you can about the organization.

*Bring the organization's major constituencies into the

visioning process*Keep an open mind as you explore the options for a new

vision.

*Encourage input from your colleagues and subordinates

*Understand and appreciate the existing vision



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*7 step process forFormulation of Vision

*Understand the organization

*Conduct a vision audit

*Target the vision

*Set the vision context

*Develop future scenarios

*Generate alternative visions

*Choose the final vision



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*Shortcomings of Vision

*Vague or Incomplete

*Not forward-looking

*Too broad

*Bland or uninspiring

*Not distinctive

*Too reliant on superlatives



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*Importance of Vision

*Charts a company’s future strategic course

*Creates an identity*Indicates capabilities to be developed



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*Application of Vision

*A vision inspires action.

*A vision is a practical guide for creating plans

*A vision helps keep organizations and groupsfocused



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*Communication of

Vision

* It attracts commitment and energizes people

* It creates meaning in workers' lives

* It establishes a standard of excellence

* It bridges the present and the future



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*Mission

*Introduction

According to Peter Drucker, it’s the customerswho define an organization’s mission. He states,“To know what a business is, we have to startwith its purpose. Its purpose must be outside thebusiness itself. In fact, it must lie in society since

business enterprise is a part of society. There isonly one business purpose; to create a customer”



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*Mission

*Importance

*Provides direction

*Framing policies

*Resource allocation



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*Mission

*Essentials

*Clarity

*Feasible

*Current

*Distinctive

*Precise*Comprehensive



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*Vision v/s Mission

Mission Vision

Time: A mission statement talks about theOrganization's present.

A vision statement talks about theorganization's future.

Function:It lists the broad goals for which theorganization is formed. Its primefunction is internal, to define the keymeasure or measures of theorganization's success and its primeaudience is the leadership team andstockholders.

It lists where the organization sees itself some years from now. For employees, itgives direction about how they areexpected to behave and inspires them togive their best. It shapes customers'understanding of why they should workwith the org.

About: A Mission statement talks about HOW theorganization will get to where it wantsto be. Defines the organization's purposeand primary objectives.

A Vision statement outlines where anorganization wants to be. Communicatesboth the purpose and values of theorganization

Features : InspiringPreciseUnique

AnalyticalFeasibleClear

Clear and Lack of AmbiguityFutureMemorable

Realistic



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*Objectives

*It is defined as goals that organization wants to achieveover a period of time.

*These are the foundation of planning.

* Policies are developed in an organization so as toachieve these objectives.

*Formulation of objectives is the task of top level

management.



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*Effective objectives

*These are not single for an organization, butmultiple.

*Objectives should be both short-term as well aslong-term.

*Objectives must respond and react to changes inenvironment, i.e., they must be flexible.

*These must be feasible, realistic and

operational



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*Example Of Vision’s



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*Example

*The Walt Disney Company

*Vision “to make people happy”

*Mission “the Walt Disney company is committedto balancing environmental stewardship with itscorporate goals and operations throughout theworlds”

*Objective “to be one of the world's leadingproducers and providers of entertainment”



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*Thanks…

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