Profit Maximisation
Question1. Describe the concept of vision in an organisation with example. How is it different from mission statement ?
A vision statement is a vivid idealized description of a desired outcome that inspires, energizes and helps you create a mental picture of your target. It could be a vision of a part of your life, or the outcome of a project or goal. Vision statements are often confused with mission statements, but they serve complementary purposes.
Examples of vision statement
The nature conservancy : Our vision is to leave a sustainable world for future generations.
Human rights campaign : Equality for everyone.
The 3 parts of vision are as follows : 1. Core values The core values are those things which are very close to our heart that we will never give up at any cost. It can be integrity or quality etc. 2. Core purposes Core purpose is the purpose of the organisation, for example to make furniture. This is what we want to achieve within the framework of our core values. 3. The Big Hairy Audacious Global or BHAG an vivid description The BHAG is about having a goal which qualifies the purpose. We say that BHAG should be big, yet specific and that your chance of attaining it is only 70%
The vivid statement should make the entire vision statement very inspiring to all stakeholders. It should be simple and easily understandable.
Difference between vision and mission statement * A mission statement concerns what an organization is all about. * A vision statement is what the organization wants to become.
A mission statement answers three key questions: * What do we do? * For whom do we do it? * What is the benefit?
A vision statement, on the other hand, describes how the future will look if the organization achieves its mission. A mission statement gives the overall purpose of an organization, while a vision statement describes a picture of the "preferred future." A mission statement explains what the organization
A vision statement is a vivid idealized description of a desired outcome that inspires, energizes and helps you create a mental picture of your target. It could be a vision of a part of your life, or the outcome of a project or goal. Vision statements are often confused with mission statements, but they serve complementary purposes.
Examples of vision statement
The nature conservancy : Our vision is to leave a sustainable world for future generations.
Human rights campaign : Equality for everyone.
The 3 parts of vision are as follows : 1. Core values The core values are those things which are very close to our heart that we will never give up at any cost. It can be integrity or quality etc. 2. Core purposes Core purpose is the purpose of the organisation, for example to make furniture. This is what we want to achieve within the framework of our core values. 3. The Big Hairy Audacious Global or BHAG an vivid description The BHAG is about having a goal which qualifies the purpose. We say that BHAG should be big, yet specific and that your chance of attaining it is only 70%
The vivid statement should make the entire vision statement very inspiring to all stakeholders. It should be simple and easily understandable.
Difference between vision and mission statement * A mission statement concerns what an organization is all about. * A vision statement is what the organization wants to become.
A mission statement answers three key questions: * What do we do? * For whom do we do it? * What is the benefit?
A vision statement, on the other hand, describes how the future will look if the organization achieves its mission. A mission statement gives the overall purpose of an organization, while a vision statement describes a picture of the "preferred future." A mission statement explains what the organization