The document discusses the definitions and characteristics of vision, mission, and objectives for companies. It states that a vision statement outlines what a company aims to become over time, guiding growth initiatives. A mission statement describes a company's current purpose and goals. Objectives are specific, measurable targets set within a timeframe and resources. The document contrasts that vision statements remain stable while missions may change, and that visions are meant to inspire while missions inform.
The document discusses the definitions and characteristics of vision, mission, and objectives for companies. It states that a vision statement outlines what a company aims to become over time, guiding growth initiatives. A mission statement describes a company's current purpose and goals. Objectives are specific, measurable targets set within a timeframe and resources. The document contrasts that vision statements remain stable while missions may change, and that visions are meant to inspire while missions inform.
The document discusses the definitions and characteristics of vision, mission, and objectives for companies. It states that a vision statement outlines what a company aims to become over time, guiding growth initiatives. A mission statement describes a company's current purpose and goals. Objectives are specific, measurable targets set within a timeframe and resources. The document contrasts that vision statements remain stable while missions may change, and that visions are meant to inspire while missions inform.
The document discusses the definitions and characteristics of vision, mission, and objectives for companies. It states that a vision statement outlines what a company aims to become over time, guiding growth initiatives. A mission statement describes a company's current purpose and goals. Objectives are specific, measurable targets set within a timeframe and resources. The document contrasts that vision statements remain stable while missions may change, and that visions are meant to inspire while missions inform.
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PRESENTED BY: YOGITA MISHRA
MEANING OF VISION A vision statement is a company’s road map, indicating what the company wants to become and guiding transformational initiatives by setting a defined direction for the company’s growth. Vision statements undergo minimal revision during the life of a business, unlike operational goals which may be updated from year to year. CHARACTERISTICS OF VISION Concise Clear Time Horizon Future-oriented Stable Challenging Abstract Inspiring Meaning of mission A mission statement of an organization’s purpose, what its overall goal is, identifying the goal of its operations: what kind of product or services it provides, its primary customers or market, and its geographical region of operation. It may include a short statement of such fundamental matters as the organization’s values or philosophies, a business’s main competitive advantage or desired future state- the “vision”. CHARACTERISTICS OF MISSION It should be Feasible It should be Precise It should be clear It should be Motivating It should be Distinctive It should indicate the major component of strategy Meaning of objective A specific result that a person or system aims to achieve within a time frame and with available resources. In general, objectives are more specific and easier to measure than goals. Objectives are basic tools that underline all planning and strategic activities. They serve as the basis for creating policy and evaluating performance. Characteristics of objective Objective should be understandable Objective should be concrete and specific Objective should be Related to a Time Frame Objective should be Measurable and Controllable Objective should be challenging Objective should be set within constraints Issues in objective setting Specificity Multiplicity Periodicity Verifiability Reality Quality Difference between VISION STATEMENT MISSION STATEMENT • A vision statement talks A mission statement talks about the present leading to about the present leading to its future. its future. It answers the question • It answers the question “what do we do”, “what makes “where do we aim to be” us different” • It remains the same till the • It may change if required by company survives. the company. • It is made to inspire. It is made to inform. • Vision statement is longer. Mission statement may shorter. THANK YOU
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