Vision

, Mission,Bussiness
definition , objectives
and Goals
Strategic Intent

1. Vision

2. Mission

3. Objectives

4. Goals

5. Business defination
Vision
Defining Vision

“description of something in the

future”

“mental perception of the kind

environment an of
individual,
organization, aspires to createorwithin
an
a broad time and
horizon underlying the
conditions of this perception”
actualization for the
Mission
Mission
Organizations relate their existence to satisfying
a particular need of the society. They do it in
terms of their mission.

Mission is a statement which defines the

role that an organization plays in a society.

It refers to the particular need of that society for

instance, its information needs.
Objectives
“Objectives end results of
are planned
activity”

“Objectives state what is to be

accomplished by when and should
be quantified if possible.”
Goa l s
 GOAL

Goal is defined as an “intermediate result

to be achieved by a certain time as part of
the grand plan . A plan can, there for
have many goals.”
BUSSINESS DEFINITI0N
 What is our business?

 What will it be?

 What should it be?

 Missionstatements can use the ideas

generated through the process of
understanding an defining business.
 OBJECTIVES

Objectives represent a managerial

commitment to achieve specified results in a
specified period, of time. They clearly spell
out the quantity and quality of performance to
be achieved, the time period, the process and
the person who is responsible for the
achievement of the objective.
Example Objectives

Minnesota Mining & Manufacturing (3M)

Financial objectives
1. To achieve 10% growth in
earnings per
share.
2. To achieve 20% - 25% return on
equity.
3. To achieve 27% return on
capital employed.
CHARECTERISTICS

1. Objectives form a hierarchy

2. Objectives form a network
3. Multiplicity of objectives
4. Long and short range objectives
Areas of objectives
1. Markets
2. Productivity
3. Innovation
4. Product
5. Profitability
6. Financial resources
7. Physical facilities
8. Organization structure and activities
9. Manager performance and
development
10. Employee performance and attitude
11. Customer service
12. Social responsibility
Importance of objectives

1. Objectives help to define the organization

in its environment
2. Objectives help in coordinating
decisions and decision-maker
3. Objectives help in formulating strategies

4. Objectives provide standards

for assessing organizational performance
Objectives of BSNL

National Plan Target of 500 million subscriber

base for the country by December 2010.

Broadband customers base of 20 million in the

country by 2010 as per Broadband policy 2004.
Factors affecting Objectives

1. Forces in the environment

2. Internal forces

3. The value systems of the top executives

Goals are short term (one year or less) milestones or
bench marks that organizations must achieve in order
for long term long term objectives to be reached.

Goals should
be measurable, quantitative, challenging, realistic,
consist ent and prioritized.
A set of goals is needed for each
objective that is established in an
organization.
Goals have the following features

They:
1. Are derived from objectives
2. Offer a standard for measuring performance
3. Are expressed in concrete terms

4. Are time bound and work oriented.

Goals are important in –
Strategy implementation

Objectives are in – strategy formulation

 CONCLUSION

Goals are an expected or desired outcome of

a planning process. Goals are usually
broad, general expressions of the guiding
principles and aspirations of an organization.

Objectives are precise targets that are

necessary to achieve goals. Objectives are
detailed statements of quantitatively or
qualitatively measurable results the plan
hopes to accomplish.