Lesson 2 Flashcards
It helps management to emphasize and concentrate on the priorities
Strategic intent
They provide direction and purpose - help identify its goals, what it wants to achieve.
Mission (Now)
They guide decision making - helps organization to prioritize activities and initiatives
Vision (Future)
They improve communication and alignment
Vision (Future)
Features of a mission
feasible
clear
inspiring
precise
unique
analytical
credible
9 Components of a Mission statement
- Customers
- Products or services
- Markets
- Technology
- Growth and profitability
- Philosophy
- Self Concept
- Concern for public image
- Concern for employees
It identifies where the organization wants or intends to be in the future or where it should be best to meet of the stakeholders.
Vision statement
Features of vision statement
- unambiguous
- clear
- harmonize
- rational/realistic
- shorter
It is a desired future or objective that an organization tries to achieve.
What must be done to attain vision and mission.
Goal
Defined as goals that organization wants to achieve over a period of time.
Objectives
Features of goal
- Precise and Measurbale
- Critical and Significant
- Realistic
- Specific Time
- Financial/ Nonfinancial components
Features of objectives
- multiple
- short term / long term
- flexible
- realistic and operational
It is the foundation of planning and policies are developed
Objectives
