Vision , Mission ,

Objectives and Goals

Vision

“description of something in the future”

“mental perception of the kind of environment

an individual, or an organization, aspires to
create within a broad time horizon and the
underlying conditions for the actualization of
this perception”
Vision Statement

A vision statement answers the question,

“ What will success look like?”

The pursuit of this image of success is what motivates

people to work together.
A vision provides strong foundation for
developing a comprehensive mission statement .
Strategic vision addresses the ‘where are we
going’ questions and explains the course and
direction chartered by management.
A strategic vision should provide a clear
understanding of what the business should look
like and provide help to take strategic decisions.
Vision
•Strategic intent should lead to an end.
•That end is the vision of an organization or an
individual.
•It is what the firm or a person would ultimately like to
become.
•Should be short and specific.
•It should be based on overall purpose of organization
Characteristics

1.It’s a blue print of the kind of business organization the

management is trying to create and the market position it
would occupy.
2.It should be forward looking a provide strategic course
the management will adopt to help the company prepare
the future
3.Specific and provide guidelines to managers for making
decisions and allocating resources
4.Flexible to changing environment
5.Within realm of companies hope to achieve
6. Appeal to emotions and motivate employees
7. Narrow vision, can focus effort and excite people
8. May not fit to present circumstance, but
contributes to future. Shows picture of future.
9. Should be easy to explain to all stake holders and
preferably short
Benefits of having a vision

1.Good visions are inspiring and exhilarating.

2.Help the organization to prepare for the future.
3.Clarifies and crystallizes the senior executives views about
the companies long term direction.
4.Good vision reduces risk-taking and experimentation.
5.Good vision help to motivate and morale boosting of
employees.
6.Good visions are competitive, original and unique.
7.Good visions represent integrity, they are truly genuine and
can be used for the benefit of people.
Limitations of a vision statement

1.Vague and incomplete

2.Not forward looking
3.Too broad
4.Uninspiring
5.Not distinctive
Examples

1. BSNL Vision Statement : “To become the largest

telecom service provider in Asia.”

2. Walt Disney vision Statement : “Make people

happy”

3. Stokes Eye Clinic, Florence, South Carolina : “Our

vision is to take care of your vision.”
Example vision statement

Infosys

Vision “To be a globally respected corporation that

provides best-of-breed business solutions, leveraging
technology, delivered by best-in-class people."
 VISION
OUR VISION IS TO BE THE WORLD’S MOBILE
COMMUNICATION LEADER – ENRICHING CUSTOMERS’
LIVES, HELPING INDIVIDUALS, BUSINESSES AND
COMMUNITIES BE MORE CONNECTED IN A MOBILE
WORLD.
Mission
Mission
1.Organizations relate their existence to satisfying a
particular need of the society. They do it in terms of
their mission.
2.Mission is a statement which defines the role that
an organization plays in a society.
3.It refers to the particular need of that society for
instance, its information needs.
Defining Mission

“essential purpose of the organization, concerning particularly

why it is in existence, the nature of the business it is in, and the
customers it seeks to serve and satisfy.”

“purpose or reason for the organization’s existence.”

“mission is an enduring statement of purpose that distinguishes

one firm from other similar firm.”
• Different from vision by it is more focused on
‘what is our business’ as compared to the
‘where are we headed’ or ‘ what we wand to
become’ nature of vision.
Characteristics
1.Declaration of attitude
2.Customer orientation
3.Declare of social policy
Declaration of attitude

• Not designed to specific or to have a concrete end.

• Is declaration of attitude and outlook
• Is meant to provide motivation, general direction, an image and
a philosophy to guide the organization
• Should be flexible, even vague to provide room for adapting to
changing environments and ways of operations
Customer orientation
Reflects the anticipation of customer.
The operating philosophy of the organization is to identify
customer needs and then provide a product or service that
fulfill those needs.
Customer orientation Should define:
‘What organization is and what is aspiring to be’
‘Be limited enough to exclude some exclude some ventures and broad enough to allow for creating growth
‘Have its own identity that distinguish it from others’
• ‘Serve as a framework to evaluate both current and prospective activities.
• ‘Be stated in terms sufficiently clear to be widely understood throughout the organization’
 Declaration of social policy
• Socially oriented policy suggest that the company takes
into consideration not only profit owed to shares and what
it owes to major stakeholders, but also seriously responds
to responsibilities towards consumer, environmentalists,
minorities.
Mission Statement
“A mission statement is an enduring statement of purpose
that distinguishes one business from other similar firms. A
mission statement identifies the scope of a firm’s operations
in product and market terms.”
BSNL mission

“To provide world class state of art technology

telecom services to its customers on demand at
competitive prices.

“ To provide world class telecom infrastructure in

its area of operation and to contribute to the growth
of country’s economy.”
The mission statement of an organization is
normally short, to the point, and contains the
following elements:
1. Provides a concise statement of why the organization exists,
and what it is to achieve;
2. States the purpose and identity of the organization;
3. Defines the institution's values and philosophy; and
4. Describes how the organization will serve those affected by
its work.
Formulating mission
1.What is the basic purpose of your organization?
2.What is unique about your organization?
3.What is in your company that will make it stand out in a
crowd?
4.Who are, and who should be, your principal
customers?
5.What are the basic beliefs, values and philosophical
priorities of your firm?
Components of mission statement
1.Product or service
2.Customers
3.Technology
4.Survival, growth & profitability
5.Company philosophy
6.Public image
7.employees
1) product or service
• Invariably includes mention of the product or service the
company offers to customers.
2) customers
• Information in the mission statement describes the profiles
of customers and the organization it services.
3) technology
• Components of the mission statement generally refers to
means of production, operations and organizational
functions.
• It include elements such as equipments, materials,
techniques, processes, machines and tools.
4) survival, growth and profitability
• make a general reference to the company’s survival and
healthy functioning, which include growth and
profitability.
5) company philosophy
• It reflects the basic believes, values, aspirations and
ethical priorities of company that guide the employee in
conditioning organizational function.
6) public image :
• elements of the company deals with how the company
wishes to be viewed by external constituencies.
• To create a positive public image, the mission statement
could explicitly refers to the responsiveness of the
company to concerns about the company and the society
7) employees:
• To develop a public image a company could include
concerns for recognition of the value of employees in the
statement
Need for an explicit mission
1.To ensure unanimity of purpose within the organization.
2.To provide a basis for motivating the use of the
organizations resources.
3.To develop a basis, or standard, for allocating
organizational resources.
4.To establish a general tone or organization climate.
5.To serve as a focal point for those who can identify with
the organization’s purpose and direction.
 MISSION

Driving in a wireless world

Vodafone is primarily a user of technology rather than
a developer of it, and this fact is reflected in the emphasis of
our work programme on enabling new applications of mobile
communications, using new technology for new services,
research for improving operational efficiency and quality of
our networks, and providing technology vision and
leadership that can contribute directly to business decisions.
 Infosys

Mission “"To achieve our objectives

in an environment of fairness, honesty,
and courtesy towards our clients,
employees, vendors and society at
large."
A Vision statement describes what the
organization would like to become.

A Mission statement describes what the

organization is now.

“What the company is providing to society?”

Objectives
Objectives
•Represent a managerial commitment to achieve
specified results in a specified period, of time.
•They clearly spell out the quantity and quality of
performance to be achieved, the time period, the
process and the person who is responsible for the
achievement of the objective.
•Objectives are end results of planned activity
•Objectives state what is to be accomplished by when
and should be quantified if possible.
• objectives are more specific and narrower
• Objectives are always measurable and particular
• It vary with the hierarchical level in the organization,
becoming more focused and short term going down from
top level to frontline managers.
• Objectives are critical for organizational effectiveness and
efficiency, and it has been shown that managers who
aggressively pursue objectives perform better that
managers who are not driven by them.
Importance of objectives
1.Objectives help to define the organization in its
environment
2.Objectives help in coordinating decisions and
decision-maker
3.Objectives help in formulating strategies
4.Objectives provide standards for assessing
organizational performance
Characteristics of good Objective
Specific and Unambiguous
1.Time horizon
2.Flexible
3.Attainable
4.Measurable
5.Multiple objectives
 Specific and Unambiguous
• Help to remove confusion about the target at which efforts
should be directed
• Help to determine reward structure in fair and equitable
manner
• Eg : objective of almost every business would have
increased profitability, but it should be explicitly explained,
as 10% increase in profit
 Time Horizon
• Should be stated in terms of a time frame within
which they should be attained
• Without a timeframe, an objective would be
ineffective and almost meaningless.
• Eg : a 10% increase in profit being targeted over a
year is a different, objective than over 2yrs, if
there is no time horizon, this objective would serve
no purpose
Flexible
• Since objectives are set in the future, which cannot be
predicted, exactly there should be room for altering an
objective should the environment change.
Attainable
• Objectives are balanced act between being too easy and too difficult
• Should be challenging enough in that they give rise to innovation and fresh
approaches, yet they should be achievable with not too much increase in resourse
Measurable
• Should be stated in quantifiable, measurable terms
• So everyone can clear about objectives, progress can be
measured towards the objectives and employees
morale can be tied to number rather than personalities
Multiple Objective
• Rare to have just one objective that all employees work
towards.
• Eg : an objective such as increasing in number of
customers served would directly with either a cost
maximization or quality improvement objective.
• Even when the management aligns different objectives,
even seemingly opposing ones, but all efforts is
coordinated in the same direction.
ObjectiveCharacteristics
1.Facilitate to achieve mission and goals
2.Set the basis for strategic decision making
3.Clear the relationship of organization with environment
4.Understandable to each member of organization
5.Should be measurable and controllable• Should be related
 to time frame
6.Should be challenging• Should be concrete and specific
7.Should be formed within the constraints
8.Should motivate people.
Factors affecting Objectives
1.Size of the organization :Bigger size makes that
objective formulation process complex.
2.Level of management :Organizational objectives are set
by managers. Different levels of managers set different
kinds of objectives.
3.Organization culture :Culture is a system of shared set of
values,beliefs and norms that guide behavior.
Areas of objectives
1.Markets share
2.Leadership in innovation and technology
3.Product quality and productivity
4.Resource level
5.Customer satisfaction
6.Performance level
7.Social responsiveness
Market Share
• Healthy market share should sustain even as an
organization tries to increase its share.
• Sustainable market share is important in stable
markets and in competitive environment.
Leadership In Innovation & Productivity

• Innovation is needed for success and in some cases for

survival.
• Innovation must be translated into objectives and
indicate what the organization is aiming for.
Product Quality and Productivity
• Designing and ensuring quality has been shown to be
critical competitive strength.
• Constant balance between achieving efficiency as related
to cost-cutting objective and maintaining quality.
Recourse Level
• Resources includes inventory, equipments, capital,
human capital
• Resources imply cost, their use should be minimized
without any compromise in aspects such as quality and
serivice
 Customer satisfaction
 Maintaining customer relations and building customer
loyalty and goodwill are highly desirable
 Performance level
Related to productivity and effectiveness
Performance objectives can also include
innovation and professional development
 Social Responsiveness

• Business respond to society and community by

specifying explicit objectives for socially
beneficial activities.
Example Objectives

Financial objectives
1.To achieve 10% growth in earnings per
share.
2.To achieve 20% - 25% return on equity.
3.To achieve 27% return on capital
employed.
Goals
 Goals
Goal is defined as an “intermediate result to
be achieved by a certain time as part of the
grand plan . A plan can, there for have
many goals.”
 Goals
•Goal is a specific target that a firm intend to
reach in long term.
•A describes clearly the activities and task to be
completed by an individual, a department or an
organization.
•Goals should be measurable, quantitative,
challenging, realistic, consistent and prioritized.
• Provide basics for measuring companies
performance and the process it is making towards
the vision.
• Strategic goals help managers to establish end
result of activities in general without getting bogged
down in details, such as issues of measurement and
timing
 Two Types Of Goals

1) Financial Goals :
focus on achieving a certain level of financial
performance, measured in terms of return in
investment or growth of revenues
2) Strategic Goals :
focus on achieving strategic or competitive
advantages within the industry, like technology
leadership, creativity and innovation and
superior customer service
 Characteristics of Goal
Specific :
so that they are precise and measurable, would
assist management in monitoring the progress
towards achievement of goals at each specific
point of time
 Characteristics of Goal

Issues Of Goal :
• Short-term Goals And Objectives Should Be Left
To Lower Level Managers To Identify, Plan And
Achieve
• Issues Like Lowering Of Cost And Improving
Quality Should Be Included In Goals Of Middle
Level Managers
3) Should Be Well Constructed, Realistic And
Challenging :
• Challenging Goals Motivates Managers To Be
Innovative, Creative And Ambitious In Improving
Operations, Marketing, Sales, Etc.
4) Specification Of Time Period
 Examples of Goals

Strategic goals of ‘EI Paso Electrical Company’ in various

operations are :
Customer service :
Provide quality service to customer at least equal to the
highest standard in the industry
Maintain reliability of service to customer at a level above 99%
Ensure that customer are educated about the safety aspects of
using electricity.
Community Service :
• Promote economic growth and increased development of
the company’s total service area
• Provide job opportunities and investment in the service area
which promotes a higher standards of living for all citizens.
• Cooperate with and serve the educational institutions
located in the service area in a manner consistent with
other leaders in the industry.
Shareholders Relations :
• Assure that all expenditure are made in such a way as to
protect and enhance shareholders investment.
• Provide a rate of return to the shareholders which is
competitive with other investments
• Base all company involvement in new programmes or
projects on solid economic principles
Employee-management Obligations :
• Monitor and strive to improve the quality of
management and supervision
• Attract, develop and retain able and loyal employees
• Provide equal employment opportunities and a high
degree of training along with modern, professional tools
Corporate Communication :
• Make A assertive effort to provide information
communication on relevant company issues
• Keep senior management apprised and educated on
current topics of interest
• Enhance the community image of the company by being
receptive to the needs of customer and the community
 Goal vs Objectives :
Goals are an expected or desired outcome of a planning
process. Goals are usually broad, general expressions of
the guiding principles and aspirations of an organization.

Objectives are precise targets that are necessary to

achieve goals. Objectives are detailed statements of
quantitatively or qualitatively measurable results the plan
hopes to accomplish.
 GOALS VS OBJECTIVES
Goal Objective

The purpose toward which an endeavor is directed. Something that one's efforts
or actions are intended to
attain or accomplish;
Meaning purpose; target.

I want to achieve success in the field of genetic research I want to complete this
and do what no one has ever done. thesis on genetic research by
the end of this month.
Example

Generic action, or better still, an outcome towards which Specific action - the
we strive. objective supports
Action attainment of the associated
goal.

Goals may not be strictly measurable or tangible. Must be measurable and

Measure tangible.

Longer term Mid to short term

Time frame