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Lecture On Strategy Vision Mission Goals and Objectives

This document summarizes a lecture on strategy, vision, mission, goals, and objectives. It discusses that strategy is "big stuff" involving top levels of an organization. It also explains that modern strategies are needed to achieve agreed upon goals and objectives in order to provide purpose and direction to an organization amid technological and social changes. The lecture defines the differences between vision, mission, goals, and objectives - providing examples for Nike's vision and Amazon's mission. It also discusses how goals are general statements while objectives are quantifiable and SMART (specific, measurable, achievable, relevant, and time-bound). The summary concludes by announcing the dates and deadlines for an upcoming workshop and virtual class.

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Cinthy Guinto
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89 views

Lecture On Strategy Vision Mission Goals and Objectives

This document summarizes a lecture on strategy, vision, mission, goals, and objectives. It discusses that strategy is "big stuff" involving top levels of an organization. It also explains that modern strategies are needed to achieve agreed upon goals and objectives in order to provide purpose and direction to an organization amid technological and social changes. The lecture defines the differences between vision, mission, goals, and objectives - providing examples for Nike's vision and Amazon's mission. It also discusses how goals are general statements while objectives are quantifiable and SMART (specific, measurable, achievable, relevant, and time-bound). The summary concludes by announcing the dates and deadlines for an upcoming workshop and virtual class.

Uploaded by

Cinthy Guinto
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Philippine Christian University

Graduate School of Business and Management

Lecture on
Strategy, Vision, Mission, Goals
and Objectives

Dr. Ruben A. Sanchez


Associate Professor 2
Strategy nowadays is “big stuff” – the top levels of the organization are generally involved

There is a need in modern times for strategies to achieve agreed goals and objectives,
giving a sense of purpose and direction to the organization, because of recent
technological and social changes and competition from rival organizations.
• Achieves a “fit” between the organizational sector and the environment in which it
operates
Figure 1. The Ansoff Matrix
• Attempts to place the organization and its products in a favorable market or
environment

Figure 2. Porter’s Five Forces


• Based on an “inside-out” approach suggesting that the competitive advantage of an
organization is based on its own distinctive resources, capabilities and competencies.
Figure 3. Levels of Strategy
Figure 4. Hierarchy of Process
Vision, Mission, Goals and Objectives
 All companies have vision, mission, goals and objectives

Vision
 Vision is basically where the organization wants to be in the future
 This is the long term or the ultimate expectation for the desired state
for the company’s position in the future

Example: Nike’s vision statement is “do everything possible


to express human potential”
Mission
 Formal written statement which states the reason for the existence of the
organization
 It describes the nature and direction of the business

Example: Amazon mission statement is to :serve consumers


through online and physical stores and focus on selection, price,
and convenience”
Mission statement of what company?
Vision statement of what company?
Specifically, Goals are:
General statements of aim, task or purpose where only
qualitative facts are stated
Examples:

 Increase in product innovations


 Survive in the market

Objectives

 Short term business results and are quantifiable

 It should fulfill the feature of SMART


Example:
The finance manager of a company announces that they intend to
increase profit by 10% by the end of 2021. Based on the past
results, the finance manager believes that this is achievable.

Is it specific? Is it achievable and realistic?


Yes, since the manager claimed
Yes, to increase the profit that the basis of projection was
past data then the target will
most likely be achieved.

Is it time-bound?
Yes, to achieve by the end of 2021.

Is it measurable?
Yes, to increase the profit by 10%
That ENDS lecture on Strategy, Vision, Mission, Goals and Objectives
Workshop 3 on October 9-15, 12:00NN-7:00PM Blue Book.
Insight 2 can be accessed on October 10 @ 7:30PM, due date
is October 15 @ 5PM. Next virtual class is October 16 @ 9-
12:00NN

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