MISSION,VISION, GOALS

AND OBJECTIVES
 VISION
Definition:
• “Description of something in the future.”
• “mental perception of the kind of environment
an individual, or an organization, aspires to
create within a long term horizon and the
underlying conditions for the actualization of
this perception.”
• It is what the firm or a person would ultimately
like to become.
 NEED FOR VISION
• Good visions are inspiring .

• Good visions foster long term thinking.

• It fosters risk-taking and experimentation.

• It creates a shared sense of purpose.

• Good visions are competitive, original & unique.

 VISION STATEMENT
• Vision statement is the declaration of a firms objectives,
intended to guide it’s internal decisions.

• A vision statement answers the question,

“what will success look like?
• The pursuit of this image of success is what motivates
people to work together.

• Eg . “To be globally respected corporation that provides

best of breed business solution, leveraging, technology,
delivered by best in class people.”
- Infosys
 MISSION
• “Essential of organization, concerning particularly
why it is in existence, the nature of the business it
is in, and the customer it seeks to serve and
satisfy.”

• Mission is a statement which defines the role that

an organization plays in a society.

• It describes the product, market and technological

areas of emphasis for the business.
 MISSION STATEMENT
• Mission statement is a short statement of why an
organization exists, what is it’s overall goal, what
kind of products and services it provides.

• A mission statement identifies the scope of firm’s

operations in product and market terms.

• Eg- “To achieve our objectives in an environment

of fairness, honesty, and courtesy towards our
clients, employees, vendors and society at large.”
-Infosys
• A Vision statement describes what the
organization would like to become.

• A Mission statement describes what the

organization is now.
“what is the organization providing to the
society.”
 OBJECTIVES
• Objective represents a managerial commitment
to achieve specified results in a specified
period of time.

• It clearly spells out the quality and quantity of

a performance to be achieved, the time period,
process and the person responsible for the
achievement of objective.
 NEED FOR OBJECTIVES
• It helps to define the organization in its
environment.

• It helps in coordinating decisions and decision

making.

• It helps in formulation strategies.

• It provides standards for assessing organizational

performance.
 EXAMPLE OF OBJECTIVES
• Objective of Minnesota Mining &
Manufacturing Company.

To achieve 10% growth in earnings per share.

To achieve 20% - 25% return on equity
To achieve 27%return on capital employed.
 GOALS
• Goal is defined as an “ intermediate result to
be achieved by a certain time as a part of a
plan.
• Goals are short term milestones that
organization must achieve in order to achieve
the long term goals.
 DIFFERENCE BETWEEN
GOALS AND OBJECTIVES
GOALS OBJECTIVES
1. Broad in scope. 1. Narrow in scope

2. Intangible in nature 2. Tangible in nature

3.Abstract 3. Concrete

4. can’t be easily measured 4. Can be easily measured or validated.

5.Helps in strategy implementation 5. Helps in strategy formulation

6. Something which you try to achieve. 6. A specific result that a system aims to
achieve a long term goal.