Presentation on theme: "FORMULATING THE VISION, MISSION, AND VALUES"— Presentation transcript:
1FORMULATING THE VISION, MISSION, AND VALUES STRATEGIC MANAGEMENTFORMULATING THE VISION, MISSION, AND VALUES
2VISION and MISSIONThe vision and mission provide a framework for all stakeholders (employees, current and prospective customers, current and prospective investors, even the public) to delineate the organization’s strategic course and purpose. The vision and mission should be:BroadDistinct, direct, and specific (to the organization)Real and meaningfulMotivationalTranslatable into goals and objectivesIndicative of organizational valuesClear as to identity, purpose, and reason for being andLinked
3ORGANIZATIONAL VISION Agreement on the vision for which the organization strives to achieve in the long run is critically important to its success. It focuses upon:What/who the organization aspires to becomeCommonality of interestsThe purpose of daily challenge! Motivation! Action!OpportunityReasonable and feasibleA strategic course and long-term directionClarity and easy to remember
4ORGANIZATIONAL VISION The payoff for a clear statement of vision:Clarifies the perception of direction (from top to bottom ofthe organization)Works as a common guide for decision-makingServes as a tool to support changeGuides functional level planningOffers insight into the future and preparations necessary toachieve long-term goals
5EXAMPLES OF VISION STATEMENTS Good vision statements are:graphicfocusedflexiblefeasible andmemorable
6Our vision serves as the framework for our roadmap and guides every aspect of our business by describing what we need to accomplish in order to continue achieving sustainable, quality, and growth. This is done through our:People – Be a great place to work.Portfolio – Bring to the world a portfolio of quality beveragebrands.Partners – Nurture a winning network of customers, andsuppliers to achieve enduring value.Planet – Be a responsible citizen that makes a difference byhelping build and support sustainable communities.Profit – Maximum long-term return to shareholders.Productivity – Be a highly effective, lean, and fast-movingorganization.
7TULIP GROVE BAPTIST CHURCH (A Nonprofit Organization) The Vision of Tulip Grove Baptist Church is to be the people of God, on mission with God, motivated by a love for God, and a love for others.
8U.S. GEOLOGICAL SURVEY (USGS) (A U.S. Government Agency)The Vision of USGS is to be a world leader in the natural sciences through our scientific excellence and responsiveness to society’s needs.
9ORGANIZATIONAL MISSION Whereas the vision statement defines the future strategic course of an organization, i.e. its direction and aspirations for the future, the mission statement specifies the organization’s current business and purpose. It focuses upon:Who we areWhat we doWho we do it forWhy we are here*90% of all companies have used a mission statement in the previous five years (Prentice-Hall, 2007).
10ORGANIZATIONAL MISSION The payoff for a clear statement of mission:Identifies the organization’s products and servicesSpecifies the buyer’s needs and wants it seeks to satisfyIdentifies the customer groups and/or markets it endeavorsto serveSpecifies the approach to pleasing customersGives the organization its own identity (differentiates andpositions)Reconcile the interests among diverse stakeholdersA lead-in to setting of goals and objectivesGenerate strategic alternativesSupport the image of the organization
11ORGANIZATIONAL MISSON Good mission statements are:ClearConcise (but broad in scope)ShortEasy to understandFocusedMemorableMotivators!
12Dell’s mission is to be the most successful computer company in the world at delivering the best customer service in markets we serve. In doing so, Dell will meet customer expectations of:Highest qualityLeading technologyCompetitive pricingAccountabilityBest in class service and supportFlexible customization capabilitySuperior corporate citizenshipFinancial stability
13(A Nonprofit Organization) TARRANT COUNTY ASSOCIATION FOR THE BLIND(A Nonprofit Organization)The mission of Lighthouse for the Blind of Fort Worth, a nonprofit organization, is to provide services to assist legally and totally blind individuals to achieve their highest level of personal and economic self-sufficiency consistent with their specific skills, general abilities and interests.
14(A U.S. Government Agency) U.S. Department of Interior (DOI)(A U.S. Government Agency)Our Mission is:Protecting America’s Great Outdoors and Powering Our FutureThe U.S. Department of the Interior protects America’s natural resources and heritage, honors our cultures and tribal communities, and supplies the energy to power our future.
15ORGANIZATIONAL CORE VALUES LINKING VISION AND MISSIONTOORGANIZATIONAL CORE VALUESThe core values of the organization relate to:Beliefs;Traits;Behavioral norms.
16CORE VALUESCore values flow from and are supported by the vision and mission of the organization. Vision and mission statements refer to these core values as they portray (among others):Fair treatment of stakeholders (employees, customers, investors)Shareholder valueIntegrityEthical behaviorDiversityInnovationTrustQualityCustomer serviceRelationshipsSocial responsibilityCommunity citizenship
17CORE VALUESSmart leaders are committed to a corporate culture that supports and encourages the desired beliefs, traits, and behavioral norms that characterize the values of organization. They ensure that the vision, mission, and ensuing strategy is continually crafted to match these values as they link and work together to achieve organizational success.