Vision, Mission and Goals and

Objectives
 Session 3
Vision and Mission

A business is not defined by its name, statutes, or articles of incorporation.

It is defined by the business mission. Only a clear definition of the mission
and purpose of the organization makes possible clear and realistic business
objectives – Peter Drucker

A corporate vision can focus, direct, motivate, unify, and even excite a
business into superior performance. The job of a strategist is to identify and
project a clear vision – John Keane
 Session 3
Vision and Mission

Vision and mission statements are two separate entities that answer two
different, yet complementary, questions about the concerned business.
A vision statement answers the question:
"Where do I see my business going?”
A mission statement answers the question:
"Why does my business exist?" “What’s the reason for being?”
Vision statements are future-focused and written with the end result in
mind. Mission statements are focused in the present and state the
fundamental purpose of your business.
 Session 3
Which Comes First: The Vision or The Mission?

For a new business just starting up, a larger company getting ready to add a new
program, or an existing organization planning to overhaul current services ideally should
write the vision statement first.

An established business with a mission statement already in place, should use the mission
to guide writing of vision statement.

Contents of a Vision Statement

Few Important Things to Keep in Mind When Writing Vision Statement:
1. Describe outcomes that are five to ten years out.
2. Dream big and focus on success.
3. Write vision statement in the present tense.
4. Infuse passion.

There is no space limit when writing vision statements. They often contain one or more
paragraphs. Write as much as you need to in order to create a dynamic mental picture of
your business that will serve to energize and inspire you and your team.
 Session 3
Vision and Mission

A business mission is the foundation for priorities, strategies, plans, and

work assignments. It is the starting point for the design of managerial jobs,
and above all, for the design of managerial structures. Nothing may seem
simpler or more obvious than to know what a company’s business is. A steel
mill makes steel, a railroad runs trains to carry freight and passengers, an
insurance company underwrites fire risks, and a bank lends money.
Actually, “What is our business?” is almost always a difficult question and
the right answer is usually anything but obvious. The answer to this
question is the first responsibility of strategists. Only strategists can make
sure that this question receives the attention it deserves and the answer
makes sense and enables the business to plot its course and set its
objectives.
 Session 3
Why Mission Statement

•To ensure unanimity of purpose within the organization

•To provide a basis, or standard, for allocating organizational resources
•To establish general tone or organizational climate
•To serve as a focal point for individuals to identify with the organization’s
purpose and direction, and to deter those who cannot from participating
further in the organization’s activities
•To facilitate the translation of objectives into a work structure involving
the assignment of task to responsible elements within the organization
•To specify organizational purposes and then to translate these purposes
into objectives in such a way that cost, time, and performance parameters
can be assessed and controlled
 Session 3
Process of Generating Mission Statement

•Select several articles of mission statements and and ask all managers to read
the background information. Ask them to develop the mission statements. A
facilitator or committee to assimilate all such statements and prepare a draft to
circulate to the managers. After obtaining feedbacks and agreeing with them in
a common mission statement it is easy to expect their cooperation while
implementing and evaluating activities.
•Discussion group of managers to develop and modify mission statement
•Outside facilitator or consultant to manage the process or draft a language
•Decision on the communication process of the mission throughout the
organization is also equally important
•Resolution of divergent views

The process of developing a mission statement should create an “emotional

bond” and “sense of mission” between the organization and its employees –
Campbell and Yeung
 Session 3
Characteristics of a Mission Statement

1.Should not be that specific that it stifles management creativity

2.Should not be too general so that it becomes dysfunctional
3.Broad to cover interest of all stakeholders

Stakeholders: Individuals or groups of individuals who have a special stake

or claim in the company viz. employees, managers, stockholders, board of
directors, customers, suppliers, distributors, creditors, government, unions,
competitors, environmental groups, and the general public.
 Session 3
Components of Mission Statements

1.Customers: Who are the firm’s customers?

2.Products or Services: What are the firm’s major products and services?
3.Markets: Geographically, where does the firm compete?
4.Technology: Is the firm technologically current?
5.Concern for survival, growth, and profitability: Is the firm committed to
growth and financial soundness?
6.Philosophy: What are the basic beliefs, values, aspirations, and ethical
priorities of the firm?
7.Self-Concept: What is the firm’s distinctive competence or major competitive
advantage?
8.Concern for public image: Is the firm responsive to social, community, and
environmental concerns
9.Concern for employees: Are the employees avaluable assets of the firm?
 Session 3
Components of a Mission Statement*

According to Bart (1997), the commercial mission statement consists of 3 essential

components:
1.Key market – who is your target client/customer? (generalize if needed)
2.Contribution – what product or service do you provide to that client?
3.Distinction – what makes your product or service unique, so that the client would
choose you?

McDonalds - "To provide the fast food customer food prepared in the same high-quality
manner world-wide that is tasty, reasonably-priced & delivered consistently in a low-key
décor and friendly atmosphere."
1.Key Market: The fast food customer world-wide
2.Contribution: tasty and reasonably-priced food prepared in a high-quality manner
3.Distinction: delivered consistently (world-wide) in a low-key décor and friendly
atmosphere.

* missionstatement1358fst.blogspot.com
 Session 3
* Your Mission Statement should include these components;

1.Customer/Marketing

2.Product or Service

3.Geographic Domain

4.Technology

5.Concern For Survival

6.Company Philosophy

7.Self (Business) Concept

* http://www.yourbusinesspal.com/mission_statement.html
 Session 3
Gorkha Brewery Limited

Vision

To be one of the leading beverage companies in South- Asian Region in terms of quality,
innovation and value to the stakeholders

Missions

•To excel in producing and marketing quality products to the full satisfaction of our
consumers
•To innovate in all areas of our business to achieve the highest degree of competence
•To ensure mutually beneficial long-term relationship with our customers and suppliers
•To create the best working environment through maximum participation ensuring career
growth and
•job satisfaction for our employees
•To operate the company on prudent financial basis of profitable growth thus increasing
value for shareholders
•To contribute directly and indirectly to the improvement of the socio-economic scene of
the country and preservation of environment thereby affirming our role as a responsible
corporate citizen
 Session 3
Opinion topic 1 : Strategic Mission and stakeholder importance

A strategic mission describes a firm’s unique purpose, the scope of operations, the
products it intends to produce and the markets it will serve using its core competencies. It
identifies a firm’s individuality and relevance to its stakeholders. On the basis of this
evaluation of a mission statement, evaluate the following mission statements and
recommend how these could be made more effective:

GlaxoSmith Kline: mission is to improve the quality of life by enabling people to do

more, feel better and live longer

Merck and Co.Inc.: to provide society with superior products by developing innovative
solutions that improve the quality of life and satisfy customer needs, to provide
employees with meaningful work and growth opportunities and to provide investors with
superior rate of return.

Novartis: to discover, develop and market innovative products to cure diseases, to ease
suffering, and to enhance the quality of life. We also want to provide shareholder returns
that will reflect outstanding performance and to adequately reward those who invest ideas
and work in the company.

Pfizer: we will become the most valued company to patients, customers, investors,
business partners and the communities where we work and live.

Astra Zeneca: the people of AZ are dedicated to discovering, developing and delivering
innovating pharmaceutical solutions enriching the life of the patients, families,
communities and other stake holders, while creating a challenging and rewarding work
environment for everyone.