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    Building Your Company Vision

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    Abhishek Goel
    The document discusses building a company vision and outlines its key components. It states that a vision has two parts - the core ideology which defines the company's enduring character, and an envisioned future which describes ambitious goals. An effective vision inspires employees and provides guidance, while core values and purpose should be discovered not created and must feel authentic. The vision is then brought to life through passionate description of the future.

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    Building Your Company Vision

    Uploaded by

    Abhishek Goel
    91 views26 pages
    The document discusses building a company vision and outlines its key components. It states that a vision has two parts - the core ideology which defines the company's enduring character, and an envisioned future which describes ambitious goals. An effective vision inspires employees and provides guidance, while core values and purpose should be discovered not created and must feel authentic. The vision is then brought to life through passionate description of the future.

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    The document discusses building a company vision and outlines its key components. It states that a vision has two parts - the core ideology which defines the company's enduring character, and an envisioned future which describes ambitious goals. An effective vision inspires employees and provides guidance, while core values and purpose should be discovered not created and must feel authentic. The vision is then brought to life through passionate description of the future.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    91 views26 pages

    Building Your Company Vision

    Uploaded by

    Abhishek Goel
    The document discusses building a company vision and outlines its key components. It states that a vision has two parts - the core ideology which defines the company's enduring character, and an envisioned future which describes ambitious goals. An effective vision inspires employees and provides guidance, while core values and purpose should be discovered not created and must feel authentic. The vision is then brought to life through passionate description of the future.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 26

    Building your company vision

    Dr. Rajesh Tripathi


    Building your company vision

    •Vision without Execution


    is Hallucination
    –- Thomas Edison
    Building your company vision
    contd..
    • Two components of vision: core ideology- what
    we stand for and why we exist and envisioned
    future- what we aspire to become.
    • Core ideology- It defines the enduring character
    of the organisation. Visionary provide core
    ideology.
    • It is a source of guidance and inspiration. It is a
    glue which holds the organisation.
    • It consists of 2 parts- core values and core
    purpose.
    Building your company vision
    • Core values- They are the essential and
    enduring tenets of the organisation, doesn’t
    require external justification but have intrinsic
    value. E.g. P&G, Generally companies have 3
    to 5 CV. They will change seldom, if ever.
    • Core purpose- It is oragnisation reason of
    existence. Purpose does not change but it
    inspire change.
    Building your company vision
    • Method of getting at purpose is five whys or
    probe deeper. E.g. market research company.
    • None of the core purpose falls into the
    category of wealth maximisation.
    • Discovering core ideology- You do not create
    or set core ideology but you discover it by
    looking inside. It is not an intellectual exercise.
    It has to be authentic you cannot fake it.
    Building your company vision
    • Role of core ideology is to guide and inspire
    not to differentiate.
    • You can’t force people to share your ideology ,
    those who share will stay and others will move
    away. You can still have diversity of people.
    • Words can change to describe core ideology
    but not CI itself.
    • Envisioned future- It is the second component
    of vision framework.
    Building your company vision
    • It consists of 2 parts- BHAG & Vivid description
    • BHAG- Big hairy audacious goals, concept of
    strategic intent.
    • Vivid description- It constitute Passion,
    emotion, and conviction-- Ford, Merck
    • Passion, emotion and conviction are essential
    parts of VD. Churchill, Movie 300, Enemy at
    the gates.
    • Core purpose≠ BHAG
    Building your company vision
    • E.g. Vikram Sarabhai and Indian space
    research.
    • It is not audacity of goals but the level of
    commitment of goals that counts.
    • Success lies in building the strength of
    organisation and its people.
    • Replace the BHAG before on the verge of
    achieving.
    • Preserve the core and stimulate progress.
    Building your company vision
    • Building a visionary company requires 1%
    vision and 99% alignment
    Sony : vision
    • Core Ideology
    – Core Values
    – Elevation of the Japanese culture and national
    status
    – Being a pioneer—not following others;
    – doing the impossible
    – Encouraging individual ability and
    – creativity
    Sony : vision
    contd..
    • Purpose
    – To experience the sheer joy of innovation
    – The application of technology for the benefit and
    pleasure of the general public.
    Sony : vision
    contd.
    • Envisioned Future
    – BHAG
    • Become the company most known for changing the
    worldwide poor-quality
    • image of Japanese products
    Sony : vision
    contd.
    • Vivid Description
    • We will create products that become pervasive around
    the world.... We will be the first Japanese company to
    go into the U.S. market and distribute directly....
    • We will succeed with innovations that U.S. companies
    have failed at—such as the transistor radio.... Fifty
    years from now, our brand name will be as well known
    as any in the world...and will signify innovation and
    quality that rival the most innovative companies
    anywhere.... “Made in Japan” will mean something
    fine, not something shoddy.
    Vision
    • The basic dynamic of visionary companies is to
    preserve the core and stimulate progress.

    • It is vision that provides the context.


    Definition of Vision
    • Vision : it is a description of something in
    future (Kotter)
    • It is mental perception of the kind of an
    environment an individual , organisation
    aspires to create in a time horizon (El-Namaki)
    • Category of forward looking intentions (Miller
    and Dess)
    Benefits
    • Inspiring
    • Common identity facilitator
    • Competitive
    • Risk Promoter
    Mission
    • Mission : is a purpose or a reason for the
    organizations' existence Mission answers :
    • What is our business,
    • What it will be
    • What it should be
    Characteristics of Mission
    • Feasible
    • Precise
    • Clear
    • Motivating
    • Distinctive
    • Reflective of strategy and goal
    Mission Formulation
    • According to Lynch (2003)
    – Identify the nature of the business
    – Response of the customer
    – Value and beliefs
    – Emphasize team effort, cherished values and mutual
    respects
    – Sustainable competitive advantage
    – Distinctive core competencies
    – Analysis of environment and impact of vision
    statement
    Mission formulation
    contd..
    • Lay down business ethics
    • Specific product/services
    • Technological competences
    • Top-down commitment
    Comparison of Vision and Mission

    • Indian Oil Corporation


    – Vision: A major diversified transnational energy
    company with national leadership…………. Playing
    important role in oil security
    – Mission:
    • To achieve international standards
    • maximize wealth
    • Attain leadership
    • Participative culture
    Objective and Goal
    • Objective: It is an end -which organization
    intends to reach . It is generally specific and
    quantified
    • Goal: It denotes what an organization hopes
    to achieve . It could be qualitative as well as
    quantitative both
    Characteristics of Objective
    • Understandable
    • Precise
    • Controllable and Measurable
    • Challenging
    • Correlative
    • Constraints incorporator
    Issues in Objective Setting
    • Specificity
    • Periodicity
    • Verifiability
    • Reality
    • Quality
    Forces that impacts Objectives
    • Environment forces
    • Realities of resources and internal power
    relationship
    • Value system of top management
    • Awareness by management
    Types of Objectives
    • Strategic Objective
    • Tactical Objective
    • Operational Objective
    • Individual Target

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