vision, mission and goals

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Vision

Corporate vision is a short, succinct, and inspiring statement of what the company or organization  wants to become and to achieve  in the future, often stated in competitive terms. Vision refers to the category of intentions that are broad, all-inclusive, thinking of future and forward-thinking.  It is the image that a business must have of its goals before it sets out to reach them. It describes aspirations for the future, without specifying the means that will be used to achieve those desired ends.

Warren Bennis, a noted writer on leadership, says: "To choose a direction, an executive must have developed a mental image of the possible and desirable future state of the organization. This image, which we call a vision, may be as vague as a dream or as precise as a goal or a mission statement."

Vision statement- is an aspirational description of what an organization would like to become, achieve or accomplish in the mid-term or long-term future. It is intended to serves as a clear guide for choosing current and future courses of action.


General Electric
At General Electric (GE) the corporate vision is 'We bring good things to life'.

Ford Motor Company
The Ford Motor Company vision is 'to become the world's leading consumer company for automotive products and services'.


Mission Statement


A mission statement is an organization's vision translated into written format. It makes concrete the manager view of the direction and purpose of the organization. For many corporate leaders it is a vital element in any attempt to motivate employees and to give them a sense of priorities.

A mission statement should be a short and concise statement of goals and priorities. In turn, goals are specific objectives that relate to specific time periods and are stated in terms of facts. The primary goal of any business or organization is to increase stakeholder value. The most important stakeholders are shareholders who own the business, employees who work for the business, and clients or customers who purchase products and/or services from the business.

Google's mission is "to organize the world's information and to make it universally accessible and useful."

Facebook's mission is to lead a more open and connected world.


Goal
is an observable and measurable end result having one or more objectives to be achieved within a more or less fixed timeframe.

A goal is a long-range aim for a specific period. It must be specific and realistic. Long-range goals set through strategic planning are translated into activities that will ensure reaching the goal through operational planning.

Objective is an end that can be reasonably achieved within an expected timeframe and with available resources. In general, an objective is broader in scope than a goal, and may consist of several individual goals. Objectives are a basic tools that underlying all planning and strategic activities. They serve as the basis for policy and performance appraisals.



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