Strategic FrameworkStrategic Management

Prepared By

Kindly restrict the use of slides for personal purpose. Please seek permission to reproduce the same in public forms and presentations.

Manu Melwin JoyAssistant Professor

Ilahia School of Management Studies

Kerala, India.Phone – 9744551114

Mail – manu_melwinjoy@yahoo.com

Strategic FrameworkVision, mission, objectives and goals

Vision - Definition

• Vision statement answers

the question “What will

success look like?”.

Characteristics of vision

• A basis of performance.

• Reflects core values.

• Way to communicate.

Examples of vision statement

• Hindustan Lever Ltd –

Our vision is to meet the

everyday needs of people

everywhere.

Mission - Definition

• Mission statement is a statement of purpose and function.

• It answers the following questions.– Why the organization does exist?– What is its value addition?– What is its function?– How does it want to be

positioned in the market and minds of customer?

– What business is it in?

Characteristics of mission

• It draws on the belief systems.

• It must be future oriented and portray your organization as it will be, as if it already exists

• It must focus on one common purpose.

• It must be specific to the organization, not generic.

Example of Mission Statement

• Ranbaxy Laboratories

Ltd – Our mission is to

become a research

based international

pharmaceutical

company.

Strategic Goals

• Strategic goals address

the key question “

Where do we wish to

arrive and when?”.

SMART Goals

Nike’s strategic goals

• Protect Nike’s position as the number one athletic brand in America.

• Build a strong momentum in the growing fitness market.

• Intensify the company’s efforts to develop products that women need and want.