VISION MISSION GOALS OBJECTIVES PLANS LONG TIME HORIZON

VISION, MISSION, GOALS, OBJECTIVES, PLANS

LONG TIME HORIZON GENERAL (MOST INTEGRATIVE) VISION MISSION GOALS OBJECTIVES PLAN SPECIFIC SHORT TIME HORIZON

VISION n A vision is a goal that is “ massively inspiring, overarching and long term”. n It represents a destination that is driven by and evoke passion. n A vision may or may not succeed; it depends on whether everything else happens according to a firm’s strategy.

WHY VISION FAILS? n The Walk Doesn’t Match the Talk n Irrelevance – Unrelated to environmental threats or opportunities n Not the Holy Grail – Only one elusive solution n Too Much Focus Leads to Missed Opportunities n An Ideal Future Irreconciled with the Present

VISION “ To be the happiest place on earth”.

VISION “Become the Company most known for changing the worldwide poorquality image of Japanese products”

VISION "To bring inspiration and innovation to every athlete in the world" If you have a body, you are an athlete.

VISION FAILS ? In 1992, Kun-Hee Lee, chairman of South Korea’s Samsung Group, created a bold strategy to become one of the 10 th largest car manufacturers by 2010. Seduced by the clarify of vision, Samsung bypassed staged entry through a joint venture or initial supply contract. Instead, Samsung borrowed heavily to build a state-of-the-art research and design facility and erect a greenfield factory, complete with cutting edge robotics. Samsung Auto suffered operating losses and crushing interest charges from the beginning. And within a few years the business was divested for a fraction of the initial investment.

VISION

n MISSION n “Purpose or reason n It is essential purpose for the organization’s of organization. existence” n It answers “why the organization is in n “Essential purpose of existence”. the organization, concerning n It is the basis of particularly why it is awareness of a sense in existence, the nature of the business of purpose. it is in, and the n It fits capabilities customers it seeks to and the opportunities serve and satisfy” which the environment (Thompson) offers (Hynger & Wheelen)

MISSION STATEMENTS : "We create happiness by providing the finest in entertainment for people of all ages, everywhere. "

"To experience the joy of advancing and applying technology for the benefit of the public. "

"To lead in corporate citizenship through proactive programs that reflect caring for the world family of Nike, our teammates, our consumers, and those who provide services to Nike"

GOALS n Goals are statements we make about the future for your business. n They represent our aspirations for it. We might say, “We seek to be the most widespread widget maker in the country. ” This statement demonstrates that we have lofty plans for our business, but it does not say specifically how we can meet our goal.

OBJECTIVES n Objectives are the exact steps our company must take to reach its goals. n They are written without emotion, and they are typically measurable and quantifiable. n They also are realistic and attainable and have an associated timeline. n For example, an objective for the goal statement of being the most widespread widget maker in the country might be, “We will increase our sales by 3 percent in each quarter of this year in each region in which we currently operate. ” Another objective might be, “We will open new branches and plants in two states per quarter this year. ”

n OBJECTIVES MUST BE S SPECIFIC M MEASURABLE A APPROPRIATE R T REALISTIC TIMELY bjectives