1. “If a man takes no thought about what is distant, he will find sorrow near at hand. He who will not worry about what is far off will soon find something worse than worry”

2. Where there is no vision, the people perish
Chapter 2 The Business Vision & Mission
Where there is no vision, the people perish

3. Conclusion first  Every Org has a unique purpose and reason for being
This uniqueness should be reflected in vision & mission statements
The nature of a business V&M can represent either a competitive advantage or disadvantage for the firm
First step in SM which provides direction for all planning activities
Essential for formulating, implementing & evaluating strategy

4. Story
Three people were at work on a construction site. All were doing the same job, but when was asked what his job was, the answers varied: “ Breaking rocks,” first replied; “Earning a living” second replied; “ Helping to build a cathedral” third replied
Few of us can build cathedrals. But to the extent we can see the cathedral in whatever cause we are following, the job seems more worthwhile
Good strategists & clear mission helps us find those cathedrals in what otherwise could be dismal issues and empty causes

5. Chapter Objectives
Describe the nature and role of vision & mission statements in strategic management
Discuss why the process of developing a mission statement is an important as the resulting document
Identify the components of mission statements
Evaluate mission statements of different organizations
Write good vision and mission statements

6. Owner believes that new enterprise will result in favorable public image– concept will be communicated to, adopted by, important constituencies
These set of beliefs put into writing, the resulting document mirrors the same basic ideas that underlie the vision & mission statement
V & M statements found in the front of annual reports
Displayed though out a firm’s premises
90 % of all Co’s have used a mission statement sometime in the previous five years

7. What Do We Want to Become?
A clear vision provides the foundation for developing a comprehensive mission statement
Vision statement should be established first & foremost
Should be short, preferable one sentence
Many managers as possible should have input into developing the statement

8. MAGIC: Something that you do which others do not understand
V - A = ?
Shaikh Chilli
A - V = ?
Gadha
V + A = ?
MAGIC

9. Institute Of Management Sciences
To be the premier management institute of the region that systematically combines education, training and research in its programmes to prepare faculty and students for diverse and challenging roles in a complex domestic and global environment
Vision

10. Vision To be the premier organization operating locally & internationality that provides the complete range of financial services to all segments under one roof.

11. What is Our Business ?
Statement of purpose that distinguishes one organization from other similar enterprises
Declaration of an Org “reason for being”
Answers the question “What is our business”
Essential for effectively establishing objectives & formulating strategies
Reveals what an ORG wants to be and whom it wants to serve

12. Mission Statement Continue……
Mid 70’s guidelines set by Peter Drucker “Father of modern management “
Says that asking Q “what is our business?” is synonymous with asking question “ what is our mission”
Also called Creed statement- statement of purpose- statement of philosophy, statement of beliefs, statement of business principles- statement of defining our business

13. Our mission is to provide quality management education and new knowledge based research that enables IMSciences to be a school with foundations in excellence at all levels. Our faculty aims at advancing management theory and practice and to broadly analyze knowledge through learning, classroom applications and service in the public and private sectors. IMSciences education enables individuals to manage existing businesses, critically evaluate theory, and inculcate values of energetic entrepreneurship in support of public policy that encourages economic development balanced with social and environmental responsibility. Through its focus on teaching and learning, research and outreach, the Institute creates, conveys and applies knowledge to expand personal growth and opportunity, to advance social and community development in order to foster economic competitiveness and improve the quality of life.

14. Through its collaborative network of students, faculty, and the staff, the Institute’s comprehensive mission is to establish a self-conscious, learned, and self-regulating society in which individuals recognize their roles as accountable to the public good.
More specifically, we aim to provide advanced knowledge of the art, science, and technology of business through teaching, research, and training in order to produce leading executives, managers, software engineers as well as computer scientists that can venture to shape the practice of business in every industry and become a catalyst for social and economic development.
To achieve this, we:
Offer diverse programs based on curriculum that is in line with the varying management trends.
Provide exceptional faculty that aims to advance management theory and practice by analyzing knowledge through learning, research,     classroom application, and service in public and private sectors.
Attract students with outstanding intellectual ability that are dedicated to personal as well as social, and economic development of Pakistan.
Our all-encompassing mission is to attest to the world the fact that a relatively underprivileged region has the potential to reach beyond social, political, and security barriers to educate and produce outstanding leaders for tomorrow

15. Mission
To develop & deliver the most innovative products, manage customer experience, deliver quality services that contributes to brand strength, establishes a competitive advantage and enhances profitability, thus providing value to the stakeholders of the bank.

16. Profit & vision are necessary to effectively motivate a workforce
Vision & Mission
Profit & vision are necessary to effectively motivate a workforce
Profit, not mission or vision, is the primary corporate motivator
But profit alone is not enough to motivate people
Profit perceived negatively by some employees in companies
Shared vision creates a commonality of interests that can lift workers out of the monotony of daily work & put them into a new world of opportunity & challenge

17. The Process of Developing a Mission Statement
Select several articles about MS- ask managers to read these as background information
Ask managers to prepare a mission statement for the Organization
A facilitator, or committee of top mangers- merge these statements into a single document & distribute the draft to all mangers
Request for modifications, additions, deletion is needed next along with meeting to revise to revise the document
Process of developing a mission statement represents a great opportunity for strategists to obtain needed support from all managers in the firm

18. Organizational Climate Focal point for work structure
Importance of Vision & Mission Statements
Benefits from a strong mission
Unanimity of Purpose
Mission
Resource Allocation
Organizational Climate
Focal point for work structure

19. A resolution for Divergent Views
“What is our business” can create controversy ?
Differences between strategists 
University: Divergent views regarding the relative importance of teaching, research and consultancy…..
Drucker “the most imp time to ask seriously, “what do we want to become?” & “what is our business?” is when a company has been successful:
SUCCESS ALWAYS OBSOLETES THE VERY BEHAVIIOR THAT ACHIEVED IT

20. Assignment / Presentation
Characteristics of a Mission Statement
A declaration of Attitude
A customer orientation
A declaration of Social Policy

21. Characteristics of a Mission Statement
Stakeholders--- profitability
General Public— Social responsibility
A declaration of Attitude
Clean Air
Jobs
Taxes
Investment opportunities
Career opportunities
EEO
Employee benefits
Salaries & wages
Community services
Environmentally Proactive

22. A customer Orientation
Define what the Org is what Org aspires to do
Be limited enough
Nor too board
Not too limited
Distinguish Org from one another

23. Declaration Of Social Policy
Impact of Society on business & Vice Versa
Social policy integrated into all Strategic Management activities including Mission Statement
Term embraces managerial philosophy & thinking at the Higher levels on Organization
Global Perspective :
Social policy on Retirement :Japan Vs World

24. Mission Statement Components
Mission statement can do vary in length, format & specificity
Most visible & public part of the strategic- management
Should not be too lengthy(less than 200 words)

25. Concern for survival, growth & profitability Philosophy Self Concept
Who are the firm’s customers
Customers
Product/Service
Markets
Technology
Concern for survival, growth & profitability
Philosophy
Self Concept
What are the firm’s major products or services?
Geographically, where does the firm compete?
Is the firm’s Technology Current
Is the firm committed to growth & financial soundness ?
What are the basic belief’s, values, aspiration & ethical priorities of the firm?
What are the firm’s distinctive competence or major competitive advantage ?

26. Concern for public image
Concern for employees
Is the firm responsive to social , community & environmental concerns?
Are employees a valuable asset of the firm?

27. Mission Elements Products Services Markets Customers Technology
Employees
Survival
Growth
Profit
Public
Image
Philosophy
Self-Concept

28. Writing & Evaluating Mission Statements
Dell computer Mission Statement was rated to be the best
Pepsi Co Mission statement was evaluated as the worst

29. Dell Computer
To be the most successful computer company in the world at delivering the best customer experience in markets as we serve. In doing so, Dell will meet customer expectations of highest quality; leading technology; competitive pricing; individual & company accountability; best-in-the-class service & support; flexible customization capability; superior corporate citizenship; financial stability.

30. Mission Statement Evaluation Matrix
COMPONENTS
Organization
Customers
Products Services
Markets
Concern for Survival, Growth, Profitability
Technology
PepsiCo
Yes No
Dell

31. Mission Statement Evaluation Matrix
COMPONENTS
Organization
Philosophy
Self-Concept
Concern for Public Image
Concern for Employees
PepsiCo
Yes No
Dell Computer