Unit 3 vision,mission,objectives and.pptx

Service operation management

1. Strategic vision vision is the picture of desired future state of an organization. It is a nicely worded one sentence statement. In the first process of strategic management a company develop strategic vision. It specifies the direction that a company intends to follow in developing and strengthening its business. It should be specific and distinctive management to a particular organization.

2. Strategic vision continue.. it is an organizational charter or core values and principle . The ultimate sources of priorities ,plans and goals. Vision statement that presents a firms strategic intent design to focus the energies and resources of the company for achieving a desired future.

3. Characteristics of vision Future focused Directional Clear Feasible clear Value based Challenging Unique Inspiring

4. Example of strategic vision Chaudhary group : we strive to be a global leader in customer value. Ford: to make the automobile accessible to every American American Express: The worlds most respected service brand Apple : A computer in the hands of everyday pople .

5. Benefits of strategic vision Provides direction Guide for decision Shape strategy Sets priority

6. Developing strategic vision The following are some of the consideration for the development of strategic vision and mission. All the key factors such as internal strengths and weakness ,external changes and trends emerging needs and service expectations of customers should be reviewed very carefully . It should be external and market oriented and express in inspirational way.

7. Developing strategic vision … All the managers from top to lower level should be involved in the process of developing the strategic vision. It enhance commitment towards the organization . It facilitates formulations and implementation strategies.

8. Developing strategic vision … The manager should be asked to review related literature on the statements and prepare a strategic vision and mission statement for the organization . The statement prepared by different managers should be merged into single document and distribute the draft statement to all managers

9. Developing strategic vision … a meeting of the managers held for modification , additions and deletions if needed and revise the document . After preparing the statements decisions on how to communicate it to all managers , employee and external stakeholders are needed . A videotape may be prepared to explain the statement

10. Communicating the strategic vision Strategic vision should be well communicated to all the managers, employee and external stakeholder . A clearly communicated strategic vision provides long term direction to the organization. The management of an organization must be able to convince the stakeholder about the strategic e direction I.e. strategic vision.

11. Communicating the strategic vision continue . Effective communication of strategic vision help to win the support of organizational stakeholders. Hence the vision statement should be explained by the executive.

12. Mission Concept: a mission statement defines the business in terms of the customers, employees, suppliers and the community . The reasons of organizational existence . An organizational mission is the purpose or reason for the organizational existences . The unique purpose that sets a company apart from others of its type and identifies the scope of its operations in product, market, and technologies term.

13. Meaning and Concept of mission Mission is the reason for existence of an organization. It defines the nature and scope of business. It provides direction to the organization over the long term. Mission is based on vision. According to Fred David A mission statement reveals the long term vision of an organization in terms of what it wants to be and whom it wants to serve.

14. Mission Statement Examples Micro soft : To enable people and business throughout the word to realize their full potential. Face book: To give people the power to share and make the world more open and connected Mc donalds : Be the best employer for our people in each community around the world and deliver operational excellence to our customers in each of our restaurants.

15. Characteristics of mission Broad in scope Precise Inspiring Multi components Distinctive Components of strategy

16. Importance of Mission Statement Bring uniformity Base of resource allocation Develop organizational culture Enhance employee ownership Define the business Reflects the organizational responsibility Shows the operating philosophy

17. Difference between vision and mission statement Basis of difference Vision Statement Mission S tatement Objective Its aim is to show where the organization wants to be in future. To aim to show how the organization will get to where it wants to be answer Its answer the question where do we aim to be? Its answers the question what do we do ? What makes us different? Time A vision statement talks about the future A mission statement talks about the present leading to its future Change A vision statement does not change even if the market condition change A mission statement changes with the change in market conditions Functions It describe where the organization sees itself years from now It lists the broad goals for which the organization is formed.ss

18. Crafting a mission statement Defining the purpose Make it broad in scope Precise Inspiring Distinctive

19. Linking vision and mission with company values There is a close linkage between vision ,mission and company value. Vision is the intended future of an organization which is developed by the CEO as the firms most important and prominent strategic leader. The vision is the foundation of the mission statement.

20. Linking vision and mission with company values continue… A mission statement defines the business in terms of the customers, employee suppliers and the community . Together vision and mission provide the foundation the firm needs to choose and implement one or more strategies. To achieve the vision a company needs to have the purpose of its existence which is mission. Again to realize the vision and mission it must have some guiding principle which are called value . Hence synchronization among these three components leads to achievement of organizational objectives.

21. Setting Performance Objectives Objectives are future-oriented desired outcomes. They are end results to be achieved. Strategic planning is about setting long-term performance objectives. Organization are created to achieve objectives. They are guided in their decisions and action by objectives. Business organization set multiple performance objectives at the same time. They can be Profitability Survival Growth Efficiency Leadership Social responsibility Reputation Personal need of top management Employee relation and development

22. Components of objectives Specific Measurable Achievable Realistic Timely Motivating Flexible Hierarchical Congruent across department .

23. Level of objectives Corporate level Business level Functional level Individual level

24. Crafting objectives Define vision ,mission and values Environmental analysis Determination of strategic objective Formulation of financial objective.

25. Requirement For Effective Objectives Specific Measurable Acceptable Realistic Time-bound

26. Level of Objectives Corporate level objectives Business level objectives Functional level objectives Individual level objectives Corporate level Objectives Vision Mission Strategy

27. Continued Business unit level objectives Long term profitability Market share growth Product category scope: product line and items Positioning among competitors. New business opportunities, etc.

28. Continued Functional Level Objectives Cost of production Market coverage in the chosen segment. Level of customer satisfaction Fund generation Programs for human resource development

29. Continued Individual Level Objectives Level of output per employees Rejects and waste Sales per salesperson Career planning and development, etc.

30. Continued Individual Level Objectives Level of output per employees Rejects and waste Sales per salesperson Career planning and development, etc.