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

Good visions are inspiring and exhilarating.

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

Vague and incomplete

Not forward looking
Too broad
Uninspiring
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
Organizations relate their existence to satisfying a
particular need of the society. They do it in terms of
their mission.

Mission is a statement which defines the role that

an organization plays in a society.

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
1) 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
2) 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.
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’
3) Declaration of social policy
Sociallyoriented 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:

Provides a concise statement of why the organization

exists, and what it is to achieve;

States the purpose and identity of the organization;

Defines the institution's values and philosophy; and

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
To ensure unanimity of purpose within the
organization.
To provide a basis for motivating the use of the
organizations resources.
To develop a basis, or standard, for allocating
organizational resources.
To establish a general tone or organization climate.
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?”

Example Mission Statements

1. Wal-Mart "To give ordinary folk the chance to buy

the same thing as rich people."
2. Mary Kay Cosmetics "To give unlimited
opportunity to women."
3. 3M "To solve unsolved problems innovatively"
4. Google's mission is “to organize the world's
information and make it universally accessible and
useful.”
Examples of vision and mission statements
are :
Bellevue Hospital, New york :

Vision : “ The Bellevue Hospital is the leader in

providing resources necessary to realize the
country’s highest level of health throughout life. ”
Mission : “ The Bellevue Hospital, with respect,
compassion,integrity and courage, honours the
individuality and confidentiality of our patients,
employees and community, and is progressive in
anticipating and providing future health care
services .”
California Energy commission

Vision Statement : “ It is the California Energy

Commission for Californians to have energy
choices that are affordable, reliable, diverse,
safe and environmental acceptable. “
Mission Statement : “ It is the California Energy
Commission’s mission to assess, advocate and
act through public/private partnership to
improve energy system that promote a strong
economy and health environment. ”
Synthite industries
VISION Statement

“By consistently delivering the Ingredients of success for the most

exciting Food,
Health and Wellness Solutions, we will be the partner of choice to
our clients worldwide”.

MISSION statement

• GROWTH
• INNOVATION
• SERVICE
• ENHANCE VALUE
• MAKING IT A GREAT PLACE TO WORK
L $ T technology,Engineering and
Construction Company
 Vision
◦ L$T shall be a professionally managed indian multinational,
committed to total customer satisfaction and enhancing
shareholders value.

Mission
L$T belives that the true and full measures of growth,
success and progress lies beyond balance sheets or conventional
economic indices. It is best reflected in the difference that
business and industry makes to the lives of peoples. Through its
social investments L$T addresses the needs of communities
residing in the vicinity of its facilities, taking sustainable
initiative in the areas of health, education, enivironment
conservation, infrastructure and community development .
 Diffrence b/w vision and mission
Mission Statement Vision Statement
A Mission statement talks about HOW you will A Vision statement outlines WHERE you want to be.
get to where you want to be. Defines the Communicates both the purpose and values of your business.
About purpose and primary objectives related to your
customer needs and team values.

It answers the question, “What do we do? What It answers the question, “Where do we aim to be?”
makes us different?”
Answer

A mission statement talks about the present A vision statement talks about your future.
Time leading to its future.

It lists the broad goals for which the It lists where you see yourself some years from now. It inspires
organization is formed. Its prime function is you to give your best. It shapes your understanding of why you
internal; to define the key measure or measures are working here.
Function of the organization's success and its prime
audience is the leadership, team and
stockholders.

Your mission statement may change, but it As your organization evolves, you might feel tempted to change
should still tie back to your core values, your vision. However, mission or vision statements explain your
Change customer needs and vision. organization's foundation, so change should be kept to a
minimum.
 What do we do today? For whom Where do we want to be going forward? When do
do we do it? What is the benefit? In we want to reach that stage? How do we want to do
other words, Why we do what we it?
Developing a do? What, For Whom and Why?
statement

Purpose and values of the Clarity and lack of ambiguity: Describing a bright
organization: Who are the future (hope); Memorable and engaging expression;
organization's primary "clients" realistic aspirations, achievable; alignment with
(stakeholders)? What are the organizational values and culture
responsibilities of the organization
Features of an towards the clients?
effective statement
Objectives
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

1. Specific and Unambiguous

2. Time horizon
3. Flexible
4. Attainable
5. Measurable
6. Multiple objectives
1) 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
 2) 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
 3) 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.
4) 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
 5) 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
 6) 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.
Characteristics
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 ti
me 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
1) 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.
2) 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.
3) 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.
 4) 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

5) Customer satisfaction
Maintaining customer relations and building
customer loyalty and goodwill are highly desirable
6) Performance level
Related to productivity and effectiveness
Performance objectives can also include
innovation and professional development

7) Social responsiveness
Business respond to society and community by
specifying explicit objectives for socially beneficial
activities.
Example Objectives

Minnesota Mining & Manufacturing (3M)

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.
Objectives of BSNL

National Plan Target of 500 million subscriber base for

the country by December 2010.

Broadband customers base of 20 million in the country

by 2010 as per Broadband policy 2004.
Goals
 Goal

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.”
• 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 :
 These goals focus on achieving a certain level
of financial performance, measured in terms of
return in investment or growth of revenues
2) Strategic goals :
 The goals focus on achieving strategic or
competitive advantages within the industry,
like technology leadership, creativity and
innovation and superior customer service
 Characteristics of goal
According to M.D.Richards :

1) 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
2) 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
Meaning accomplish; 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 Specific action - the

which we strive. objective supports
Action attainment of the
associated goal.

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

Measure tangible.

Time frame Longer term Mid to short term

 San Antonio Multi-Service Market
Mission: Maximize Utilization of the Direct Care System in the San
Antonio Multi-Service Market Area
Vision: A World-Class, Multi-Service, Unified Health System Serving San
Antonio and Referred Beneficiary Market
Goals:
 Optimize efficiency between direct and private sector care markets
 Eliminate duplicate services
 Increase synergy and cooperation among San Antonio MTFs
 Ensure patient satisfaction with access and quality service
 Strengthen Readiness by allocating appropriate mix of resources
 Collaborate support functions across the market
Objectives:
 Establish the Consult and Appointing Management Office
 Increase RWPs / RVUs in the direct care system per the business plan
 Consolidate logistical and contracting functions
 Realign staff resources to meet patient demand
 Establish enrollment sites to meet changing patient demographics
 Enroll eligible beneficiaries up to capacity