Vision & Mission statement

strategic Intent and Strategy Formulation- Vision,

Mission and Values, Organizational Values and their
impact on strategy, preparation of vision and
mission statement, organizational objectives,
Environmental Appraisal, Concept of environment,
SWOT Analysis, Environmental Sectors,
Environmental Scanning
Characteristics of an Effective Vision
Statement
 Characteristics of an Effective Mission
Statement
1. They Are Short
2. They Are Unique to Your Business
3. They Create Expectations
4. They Are Realistic
5. They Are Memorable
6. They Are Active
7. They Are Positive
8. They Are Adaptable
9. They Are Targeted
Parameter of Comparison Vision Mission

A statement indicating the

The ultimate goal to be
Meaning activities to be pursued for
achieved
accomplishing a goal

In simple words how Where are we heading

How will we reach there?
to describe? towards?

To inspire and hope to the To provide guidance or

Main Purpose people to contribute roadmap for achieving the
towards attaining the goal goal

Benefit to Helps understand why they Help recognize what exactly

employees are doing a particular task are they doing

The company understands The company recognizes

Benefit to
what it wants to achieve in what it should do in the
organization
future present
Comparison Vision Mission
Yes, it can change as per
Ideally will remain changing circumstances or
Whether it can change or is
constant, changes will be on the client perception
flexible?
minimal but will relate to the main
goal
Whether it is focussed on Future i.e. focussed on Present i.e. focussed on
the present or future? tomorrow today
What does the company
Example of how a Where does the company
need to perform today? For
statement can look like or intend to go in the future?
whom should the company
how it can be designed By when?
serve?
The mission of LinkedIn is-
The vision of LinkedIn is-
“The mission of LinkedIn is
“Create economic
Example of a real simple: connect the world’s
opportunity for every
statement of a company professionals to make them
member of the global
more productive and
workforce”
successful”
Comparison Vision Mission
Vision comes first as it
Whether vision comes first The mission comes after
guides the overall structure
or mission? vision
for mission
Long timeline because it Short timeline because it
Timeline focuses on achieving the can be changed as per
final goal prevailing circumstances
Scope Wide Narrow
 Characteristics of an Effective Vision
Statement (The average vision statement is about 35 words, or two to three
sentences.)

• Brevity
• Clarity
• Abstract and Challenging
• Forward-looking / Future Focused
• Defines a company’s reason for existence and where it is
heading
• Matches the Organization’s Success
• Motivating and inspirational
• Reflective of a company’s culture and core values
• Measures States the Organization’s Purpose
• Aimed at bringing benefits and improvements to the
organization in the future /Sets a Desirable Goal
 Google’s Corporate
• Mission Statement • Vision Statement
“to organize the world’s • “to provide access to the
information and make it world’s information in one
universally accessible and click.”
useful.”

• Sharing of new ideas • World’s information

• Global accessibility • Access
• Boosting organization • One click
• World’s information
• Universal accessibility
• Usefulness
 Google’s Corporate Core Values

Google core values include “Focus on the user and all

else will follow, Fast is better than slow, Democracy on
the web works, You can make money without doing
evil, There’s always more information out there, and
great just isn’t good enough.”
Google has a long list of values that drive the operations
of the company. They also come in handy in creating a
culture that makes it a go-for company in the
technology, software, and cloud computing sector.
Google’s slogan: Do the right thing.
Google’s main headquarters is in Mountain View,
California, United States
 Amazon Corporate
• Mission Statement • Vision Statement
“We strive to offer our • “to be Earth’s most
customers the lowest customer-centric company,
possible prices, the best where customers can find
available selection, and the and discover anything they
utmost convenience..” might want to buy
online.”.”
• Affordable prices.
• Varied selection ( range • Customer-centric
of services and products ) company
• Top convenience. • Global presence.
 Amazon Corporate Core Values

Amazon core values include “customer obsession, ownership, invent and

simplify, are right, a lot, hire and develop the best, insist on the highest
standards, think big, bias for action, frugality, vocally self-critical, earn
trust of others, dive deep, have backbone, disagree and commit, and
deliver results.” Well, Amazon features a long list of values to guide the
operations of its business. Several key values can, however, be singled out
to have the greatest impact among this list:

•Customer obsession
•Invent and simplify
•Hire and develop the best
•Deliver results
•Earn trust of others

•Amazon’s slogan is: Work hard. Have fun

•Amazon’s main headquarters is in Seattle, Washington, United States
 Nike’s Corporate
• Mission Statement • Vision Statement
“to bring inspiration and • “do everything possible
innovation to every to expand human
athlete in the world.”. potential.”

• Inspiration • Authentic
• Innovation • Connected
• Every athlete in the • Distinctive
world
• Global presence
 Nike Corporate Core Values

Nike’s core values include “inspiration, innovation, every

athlete in the world, authentic, connected, and distinctive.”
These values define what Nike holds dear in its quest to
become the best there is. It has the following factors:
Inspiration
Innovation
Every athlete in the world
Authentic
Connected
Distinctive
Nike’s slogan is: Just Do It
 Dominos Corporate
• Mission Statement • Vision Statement
“To become the pioneer in offering
off-premise pizzeria comfort to customers
• Domino’s has its outlets across the
all over the world,” states Domino’s globe, but each of these outlets works
statement of purpose. Furthermore, towards a common vision of becoming
Domino’s aspires to be a business of great an exceptional and the fastest pizza
individuals dedicated to making Domino’s delivery company without
the finest home delivery corporation in compromising the quality and taste.
the region. Domino’s Pizza is the pizzeria To put it simply, the company
provider, continuously delighting envisions becoming one of the leading
customers with outstanding quality and
food options, as well as polite,
names in the pizza delivery business
professional staff members that provide and also provide people with
quick, safe courier service.”. outstanding taste.
• Prompt pizza deliveries • Exceptional team recruitment
• Expandable pizzeria menu • Becoming the best pizza delivery
• Building a courteous team company
• Provide exceptional taste • Outstanding services
• Building a courteous team
 Domino’s Core Values
Domino’s has come this far by adhering to the following core values:
Excellent customer service
The prime core value of Domino’s is to serve its customers without any complaints and
excuses. This is why in reality, the company’s service is outstanding. Every employee
working in the company understands the value of customer satisfaction, and hence,
they work hard and give their 100% in customer service.
Reaching the hearts through the food
Domino’s believes that to leave an unforgettable impact on someone’s heart; one
needs to give them something out-of-the-box. And their pizzas and other food items
do the job perfectly.
No compromise with quality
At Domino’s, there wouldn’t be any compromise with the service and food quality, no
matter whether it is a direct pizzeria outlet or a franchise outlet. The company believes
in quality services making them the fastest-growing food chain business globally.
Sustainable Future
Domino’s understands its responsibility towards the community and strives to be a
good neighbor through various initiatives like raising funds, contributing to agriculture,
using energy-efficient appliances, using e-bikes for pizza delivery, etc
 Levi’s Corporate
• Mission Statement • Vision Statement
“ To sustain responsible • “We are the embodiment of the
energy and events of our times,
commercial success as a inspiring people with a
global marketing pioneering spirit.”
company of branded
• Energy embodiment
apparel.”
• Events
• Global success • Inspiration
• Product excellence
• People empowerment
 Levi’s Core Values
Core Values
core values comprise “innovation, sustainability, progress,
originality, integrity, courage, empathy, creativity and hard work.”
This is reflective of the Levi’s long standing tradition of community
involvement and employee volunteerism that continues to this day
which has the following main factors:
Innovation
Sustainability
Progress
Originality
Integrity
Courage
Empathy
Creativity
Hard work
 Thakur Computer Solutions and
Technology Pvt Ltd (TCS) Corporate
• Mission Statement • Vision Statement
TCS Technology will provide products • “To be amongst the 5 most
and services that not only meet but admired Information Technology
exceed the expectation of our
Solution Providers globally with
customers through planned and
continuous improvement of our leadership focus in delivery of
Services, Products, Processes and products, solutions and services
which are globally competitive.
People.”
• Focused on Plan • Delivery of Product and Services which are globally
competitive.
• Employee centric • Continuous improvement of our products, processes and
people.
organization • A learning organization of committed and contributing
employees who share the competitive agenda.
• Well defined policies and • Continuous satisfaction of our customers , shareholders
and employees.
processes • Expansion in our areas of core competency and
development of New Competencies.
 TCS Core Values

Building Commitment
Focus – Employees are given equal opportunities
Involvement – Marching together towards common
goal
Development – Encourage opportunities for
learning and growth
Gratitude – Recognize performance (formal or
informal)
Accountability – Employees are given freedom to
work and outshine.
LIC
 Long Term Objectives

Long Term Objectives

Performance goals of an organization,
intended to be achieved over a period of
five years or more. Long-term objectives
usually include specific improvements in the
organization's competitive position,
technology leadership, profitability, return
on investment, employee relations and
productivity, and corporate image.
 top long-term business goals:

•Increasing sales
•Building brand recognition
•Creating a stellar reputation
•Growing social media following
•Getting on the first page of Google
•Opening a new location
•Launching a new product or service
•Hosting promotional events
 Key Terms

Strategists – Firm’s success/failure

Various Job Titles:

•Chief Executive Officer (CEO)

•Chief Strategy Officer (CSO)
•President
•Owner
•Board Chair
•Executive Director

Copyright 2007 Prentice Hall Ch 1 -46

 Strategic Management achieves a
firm’s success through integration
––

Management Marketing

Finance/Accounting Production/Operations

Research & Development MIS

Copyright 2007 Prentice Hall Ch 1 -47

 Strategy
Formulation

Vision & Mission

External Opportunities & Threats

Internal Strengths & Weaknesses

Long-Term Objectives

Alternative Strategies

Strategy Selection

Copyright 2007 Prentice Hall Ch 1 -48

 Strategy
Implementation

Annual Objectives

Policies

Employee Motivation

Resource Allocation

Copyright 2007 Prentice Hall Ch 1 -49

 Strategic Management is Gaining
and Maintaining Competitive
Advantage

“Anything that a firm does especially

well compared to rival firms”

Copyright 2007 Prentice Hall Ch 1 -51

Key Terms

Vision Statement –
What do we want to become?

Mission Statement –
What is our business?

Copyright 2007 Prentice Hall Ch 1 -52

Key Terms
Strengths & Weaknesses
Assessing the Internal Environment

Financial Ratios

Performance Metrics
Internal Factors
Industry Averages

Survey Data

Copyright 2007 Prentice Hall Ch 1 -53

Key Terms

Long-term Objectives

Essential for ensuring the firm’s success

• Provide direction
• Aid in evaluation
• Create synergy
• Focus coordination
• Basis for planning, motivating, and
controlling

Copyright 2007 Prentice Hall Ch 1 -54

Key Terms

Strategies

❑ Means by which long-term objectives are

achieved

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Key Terms

Strategies
Some Examples
• Geographic expansion
• Diversification
• Acquisition
• Market penetration
• Retrenchment
• Liquidation
• Joint venture

Copyright 2007 Prentice Hall Ch 1 -56

Key Terms

Policies

❑ Means by which annual objectives will be

achieved

Copyright 2007 Prentice Hall Ch 1 -57

 Integrating Intuition & Analysis

Intuition & Judgment

Involve Management at all levels

Influence all Analyses

Copyright 2007 Prentice Hall Ch 1 -58

 Integrating Intuition & Analysis

Analytical Thinking

Intuitive Thinking

Copyright 2007 Prentice Hall Ch 1 -59