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Strategic Intent Like individuals, organizations must define what they want to do and why they want to do this. This why they want to do underlies the end result that is likely to be achieved through what they want to do. In management literature, this end result is referred to as strategic intent. Strategic Intent has a hierarchy vision, mission, and goals & objectives. Strategic intent is defined as Strategic intent envisions a desired leadership position and establishes the criterion the organization will use to chart its progress.
Vision :
Vision Burt Nanus, a well-known expert of organizational vision, has defined vision as a realistic, credible, and attractive future for an organization. Realistic : A vision must be based on reality to be meaningful for an organization; it should not be merely day-dreaming but a dream to be converted into reality. Credible. A vision must be believable to be relevant to members of the organization concerned. One of the purposes of a vision is to aspire those in the organization to achieve a level of excellence, and to provide direction for their actions. Attractive. A vision must be attractive so as to inspire and motivate organizational members. People must want to be a part of the future that is envisioned for the organization. Future. A vision is not for the present; it is for the future. Simply, a vision is not where an organization is now but where it will be in future.
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Oren Harari, another expert on organizational vision, defines vision as A vision describes a set of ideals and priorities, a picture of the future, a sense of what makes the company special and unique, a core set of principles that the company stands for, and a broad set of compelling criteria that will help define organization success. Features of a Good Vision: A good vision is idealistic (vision should be realistic so that people believe that it is achievable, but idealistic enough so that it can not be achieved without stretching. A good vision clarifies direction of the organization concerned (where the organization go in future?) A good vision inspires organizational members and encourages commitment from them. A good vision reflects the uniqueness of the organization, its distinct competence, what it stands for, and what it is able to achieve. A good vision is appropriate for the organization and for the times. It implies that the vision should be consistent with organizations values and culture and its place in its environment. A good vision is well articulated and easily understood by those who are responsible to convert it into reality.
Examples of Vision :
Examples of Vision RIL To achieve global leadership in polymers, fibres and resin businesses through innovative research and technology development in materials, products, and applications through efficient, disciplined, target-oriented, and cost-effective research
and development activities. Infosys To be a globally respected company that provides best of breed software solutions by best-in-class people. Tata Tea to be Indias foremost teabased beverage company. Dihe - to provide dynamic learning environment by imparting holistic education to develop outstanding professionals and entrepreneurs who exemplify humanistic values, are socially responsible stewards and create and dissemination practitioner - oriented knowledge that will uplift society.
Developing a vision :
Developing a vision Developing a vision is like having a dream to be converted into reality in future. Following steps are relevant for development of a vision: Conducting a vision audit to assess the current direction and momentum of the organization. Targeting the vision What are the boundaries and constraints to the vision? What must be the vision accomplish? What critical issues must be addressed in the vision? Setting the vision context identifying what the organizations future environment might look like. Developing the future scenarios Generating the alternative visions Choosing the Final Vision
Mission :
Mission The company mission is defined as the fundamental unique purpose that sets a business apart from other firms of its type and identifies its scope of its operations in product and market terms. Difference between Vision and Mission The essence of vision is forwardlooking view of what an organization is to become in future, mission states what the organization is and why it exists. While vision places emphasis on visionary long-term concept of the organization with very high level of achievement, mission deals mostly with how the organization will interact with various stakeholders, products/services it offers, and the way these are offered.
Mission Statement :
Mission Statement Mission statement is the description of organizational mission. Explicit mission statement is desirable as it serves the purpose of communicating to the organizations members about the corporate philosophy, character, and image of the organization which govern their behavior in the organization. Following points should be considered while preparing the mission statement: Mission should be clear, both in terms of intentions and
words used. It should be feasible, neither too high to be unachievable, nor too low to demotivate the people for work It should be precise but explanatory, neither too narrow so as to restrict the organization's activities, nor too broad to make itself meaningless. It should be distinctive, both in terms of the organizations contributions to the society and how these contributions can be made.
Components of Mission :
Components of Mission Organizations Self-concept (Identity) Its role in the industry, change agent or follower Organizations Philosophy (Creed or ethos) Assumptions, beliefs, values, aspirations etc. Organizational Image External manifestation on the basis of which society and its people create a positive or negative view about the organization Long-term Objectives Survival, growth, profitability, shareholder value Nature of Business Product/service, market segment and technology
Business Definition :
Business Definition A business definition is a clear-cut statement of the business or a set of businesses, the organization engages in presently or wishes to pursue in future. Then it prescribes the arena in which the organization will play and compete. Business can be defined along three dimensions-product, customer, and technology. However, whatever dimension is chosen for defining business, it must reflect two features: focus and differentiation. Focus of business may be defined in terms of the kind of functions the business performs rather than the broad spectrum of industry in which the organization operates. Differentiation in business is how an organization differentiates itself from others so that the business concentrates on achieving superior performance in the market.
Example: Hero Honda Business Definition: World-class quality auto products that provide the highest level of customer satisfaction. Customer segment: Individuals who enjoy riding motorcycles with perfection, like speed, styles, and fuel economy, located across the country. Product : It emphasizes world-class quality auto products- presently motorcycles, leaving the scope for adding similar other products in future. Initially, it concentrated on fuel-economy and introduced CD-100 with the slogan fill it, shut it, forget it. Later additional features have been added. Technology: The JV with Honda of Japan with core competency in automobile engines provided the needed technological edge. Product-delivery and after-sales activities have been ensure through a network of dealers armed with service centers backed up by qualified technicians trained by the company.
Role of Objectives :
Role of Objectives Directions for Decision Making Clear definition of objectives encourages unified planning Objectives work as a motivating force Voluntary coordination is achieved easily if the objectives are clearly specified and mutually agreed upon Performance Standards Objectives provide standard against which performance of the organization can be measured. Basis for Decentralization Integrating Organization, Group and Individual
term and short-term) Reality should be based on reality of those factors which affect objective setting Quality good-which provide specific direction for action and tangible basis for performance evaluation vs. bad-which fail to do so)
Change in Objectives :
Change in Objectives Change in Aspiration level of Top Management Demand for change by Stakeholders Change in Environment Change in Life-cycle of Organization