Mba Sem 1
Q1.Describe the concept of vision in an organisation with an example. How is it different from mission statement?
Answer :
Concept of vision or vision statement :
A vision is an over-riding idea of what the organization should be. Often it reflects the dream of the founder or leader. Your company’s vision could be, for example, to be “the largest retailer of automobiles in the US”, “the maker of the finest chocolate candies in London”, or “the management consultant of choice for non-profit organizations in the Southwest.” A vision must be sufficiently clear and concise that everyone in the organization understands it and can buy into it with passion.
Example :
Lets take this example of Online Retailer
“We intend to provide our customers with the best online shopping experience from beginning to end, with a smart, searchable website, easy-to-follow instructions, clear and secure payment methods, and fast, quality delivery.
Mission statement:
A short, formal statement which defines the organisation in terms of its business, its customers, the intention of the business and the aim of the organisation.
It is a formal, short written statement for the purpose of the current functioning of the company or an organisation. The actions of the organisation are guided by the mission statement. Mission statement should spell out the overall goal, provide a sense of direction and guide in decision making. Critical components that clarify each organisation’s purpose are common in case of all effective mission statements.
Mission statements often contain the following: * Purpose and aim of the organisation. * The organisation’s primary stakeholders: clients, stockholders, congregation etc. * Responsibilities of the organisation towards the stake holders. * Products and services offered.
As described by Hill, the mission statement consists of:
A statement that contains the reason for using the product.
A statement of some desired
Answer :
Concept of vision or vision statement :
A vision is an over-riding idea of what the organization should be. Often it reflects the dream of the founder or leader. Your company’s vision could be, for example, to be “the largest retailer of automobiles in the US”, “the maker of the finest chocolate candies in London”, or “the management consultant of choice for non-profit organizations in the Southwest.” A vision must be sufficiently clear and concise that everyone in the organization understands it and can buy into it with passion.
Example :
Lets take this example of Online Retailer
“We intend to provide our customers with the best online shopping experience from beginning to end, with a smart, searchable website, easy-to-follow instructions, clear and secure payment methods, and fast, quality delivery.
Mission statement:
A short, formal statement which defines the organisation in terms of its business, its customers, the intention of the business and the aim of the organisation.
It is a formal, short written statement for the purpose of the current functioning of the company or an organisation. The actions of the organisation are guided by the mission statement. Mission statement should spell out the overall goal, provide a sense of direction and guide in decision making. Critical components that clarify each organisation’s purpose are common in case of all effective mission statements.
Mission statements often contain the following: * Purpose and aim of the organisation. * The organisation’s primary stakeholders: clients, stockholders, congregation etc. * Responsibilities of the organisation towards the stake holders. * Products and services offered.
As described by Hill, the mission statement consists of:
A statement that contains the reason for using the product.
A statement of some desired