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Production and Operation Management

Production and Operation Management

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Definitions of Mission, Vission, Objectives, Strategy and Tactics
Definitions of Mission, Vission, Objectives, Strategy and Tactics

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Published by: M. Aamer Waqas Idrees on Feb 05, 2014
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Vision, Mission, Objectives, Strategies & Tactics
FINAL ASSIGNMENT
 
Define and explain vision, mission, objectives, strategies and tactics? Explain with the help of example from different organizations.
 
2014
 
 
MUHAMMAD AAMER WAQAS IDREES
BBA 6th
 –
 A ROLL # 02
1/19/2014
 
Vision, Mission, Objectives, Strategies & Tactics
M. AAMER WAQAS IDREES BBA-6
th
 (A)
 ROLL # 02
 Page 1
Visions, Missions, Objectives, Strategies and Tactics
The core elements of every business plan are visions, missions, objectives, strategies and tactics. Whilst everybody in business knows the terms, its surprising how many people
don’t know what they mean or how they fit together.
 
VISION
 
A business vision is a statement of where the business is going. What does it aspire to, and what are the values its clients and customers will experience? A vision statement is usually a long-term view and concentrates on the future. A vision
statement is most effective when it’s emotive and inspirational, but at the same time it has
to be credible to the employees and customers of the business. Vision statements should be short and punchy. Can you get your vision statement into one, memorable, sentence?
 
Vision, Mission, Objectives, Strategies & Tactics
M. AAMER WAQAS IDREES BBA-6
th
 (A)
 ROLL # 02
 Page 2
MISSION
 
A business mission is a statement describing what the business does. It describes the fundamental purpose of the business to explain why it exists and what it does to achieve its vision. The best business statements describe succinctly what the business does for its customers. Like vision statements, mission statements should be short and punchy.
OBJECTIVES
 
Business objectives are a precise, numerical description of what the business plans to achieve. Business objectives should be SMART:
 
Specific
 
Measurable
 
Achievable
 
Resourced
 
Timed Some schools of thought suggest strategies should be decided before objectives. For me
that doesn’t make sense.
In my mind the objective
 or more particularly the scale of the objective
 will often determine what strategies make sense.
Strategies
 
Business strategies are broad descriptions of how the business will set out to achieve its objectives. A strategy is a direction rather than a specific task.

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