Most Integrative

Fewest in number

VISION MISSION OBJECTIVES

Most specific

GOALS PLANS

Greatest in number

An organisations fundamental reason for existence beyond just making money

Its timeless, unchanging core values

Huge audacious but achievable for its future

 Built core values

Spell core purpose of the organisation

Unstructured inputs could be taken from everyone before developing the corporate vision

 According to Thompson, The mission reflects the

essential purpose of the organisation, concerning particularly why it is in existence, the nature of the business it is in, and the customers it seeks to serve and satisfy.

Clarity

Broad and enduring

Identify and Image

Realistic

Specific

Values, beliefs and Philosophy

Vision

Dynamic

Reference Point

HELP TO THE FIRM

Educative Value

Motivating Force

Productive use of Resources

 The product or service of the business can provide benefits at least

equal to its price The product or service can satisfy a customer need of specific market segments that is currently not being met adequately. The technology that is to be used in production will provide a cost and quality competitive product or service With hard work and support of the others, the business can not only survive but also grow and be profitable. The management philosophy of the business will result in a favorable public image and will provide financial and psychological rewards for those who are willing to invest their labour and money in helping the business to succeed The entrepreneurs self-concept of the business can be communicated to and adopted by employees and stockholders.

Customers

Concern for employees

Products or services

Concern for public image

Markets

Selfconcept

Technology

Philosophy

Concern for survival, growth and profitability

 It must be related to the basic human need which the product seeks to

satisfy and should not be limited to just the product It must be related to the functions performed by the product and not limited to just the product It must be related to the basic benefits the product offers It must encompass in its fold, as many related functions/benefits as possible It must go beyond the immediate product, beyond the competitors, beyond the immediate market boundaries It must be wide enough to embrace new opportunities

It must be wide enough to give a vision of latent sources of

competition from say, substitute products

Customer needs
Customer groups

Alternative Technologies

The product/service concept

Value creation

Customer segment

ROLE OF OBJECTIVES Benchmarks for success

Legitimacy

Direction

Coordination

Motivation

Objectives form a hierarchy Objectives from a network Multiplicity of Objectives Long and Short range objectives