Engineering Management

Assignment Number One

The terms, vision, mission, goals, objectives and Target have great
importance in management literature.
1.Organizations summarize their goals and objectives in
mission and vision statements. Both of these serve different purposes for a company
but are often confused with each other. While a mission statement describes what a
company wants to do now, a vision statement outlines what a company wants to be in
the future.
2.When you plan your business future, you will generate a list of potential achievements
you want it to reach. These are goals. The specific steps you take to get to those
achievements are your objectives.
3. Business goals are written parts of a long-term vision detailing what results your
company aims to accomplish and by what deadline. Targets are similar but can be
considered smaller steps aligned with the details and deadlines of larger goals. An
organization makes progress, and brings ultimate goals into clearer focus, as individuals
and teams within the organization reach their targets.

Prepared By: Nuuradiin Xasan DhaqanePage 1