Prof. Dr. Md.

Mahmodul Hasan
Faculty of Business Administration MBA Program 2014

CHAPTER 2: THE BUSINESS VISION

V!s!on Vs. M!ss!on

MISSION

M!ss!on S"a"#m#n": What is our usiness! "#ometimes called $reed #tatement a statement of %ur%ose& a statement of eliefs& a statement of usiness %rinci%les or a statement of defining the usiness' V!s!on S"a"#m#n": What do (e (ant to ecome!

V!s!on:
Agreement on the asic )ision for (hich the firm stri)es to achie)e in the long run is critically im%ortant to the firm*s success+

Cl#ar Bus!n#ss V!s!on $$ Com%r#h#ns!&# M!ss!on S"a"#m#n"

M!ss!on S"a"#m#n"s:
Endur!n' s"a"#m#n" of %ur%os# D!s"!n'u!sh#s on# f!rm from ano"h#r D#(lar#s "h# f!rm)s r#ason for *#!n'

Im%or"an(# of M!ss!on

B#n#f!"s from a s"ron' m!ss!on

M!ss!on Unan!m!"+ of Pur%os# R#sour(# Allo(a"!on Or'an!,a"!onal Cl!ma"# -o(al Po!n" for .or/ S"ru("ur#

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Prof. Dr. Md. Mahmodul Hasan

Faculty of Business Administration MBA Program 2014

Eff#("!&# M!ss!ons
Broad in sco%e ,enerate strategic alternati)es -ot o)erly s%ecific .econciles interests among di)erse sta/eholders Finely alanced et(een s%ecificity 0 generality Arouse %ositi)e feelings 0 emotions Moti)ate readers to action ,enerate fa)ora le im%ression of the firm .eflect future gro(th Pro)ide criteria for strategy selection Basis for generating 0 e)aluating strategic o%tions Are dynamic in nature

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Prof. Dr. Md. Mahmodul Hasan

Faculty of Business Administration MBA Program 2014

Chara("#r!s"!(s of V!s!on S"a"#m#n"

1+ 6ra%h!(: A (ell1stated )ision %aints a %icture of the /ind of com%any that management is trying to create and the mar/et %osition the com%any is stri)ing to sta/e out+ 2+ D!r#("!onal: A (ell1stated )ision says something a out the com%any*s 2ourney or destination and signals the /inds of usiness and strategic changes that (ill e forthcoming+ 3+ -o(us#d: A (ell1stated )ision is s%ecific enough to %ro)ide managers (ith guidance in ma/ing decisions and allocating resources+ 4+ -l#7!*l#4 A (ell1stated )ision is not a once1and1for1all1time1%ronouncement1 )isions a out a com%any*s future %ath may need to change as e)ents unfold and circumstances change+

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Prof. Dr. Md. Mahmodul Hasan

Faculty of Business Administration MBA Program 2014

5+ -#as!*l#: A (ell1stated )ision is (ithin the realm of (hat the com%any can reasona ly e6%ect to achie)e in due time+ 7+ D#s!ra*l#: A (ell1stated )ision a%%eals to the long1term interests of sta/eholders %articularly shareo(ners& em%loyees and customers 8+ Eas+$"o$Commun!(a"#4 A (ell1stated )ision is e6%laina le in less than 10 minutes and ideally can e reduced to a sim%le& i+e+ 9 a car in e)ery garage:1Ford $om%any

Com%on#n"s of a M!ss!on S"a"#m#n"

1+ Cus"om#rs: (ho are the firm*s customers! 2+ Produ("s or S#r&!(#s: What are the firm*s ma2or %roducts or ser)ices! 3+ Mar/#"s4 ,eogra%hically& (here does the firm com%ete! 4+ T#(hnolo'+: ;s the firm technologically current! 5+ Con(#rn for Sur&!&al8 'ro9"h and Prof!"a*!l!"+4 ;s the firm committed to gro(th and financial soundness! 7+ Ph!loso%h+: What are the asic eliefs& )alues& as%irations and ethical %riorities of the firm! 8+ S#lf$Con(#%": What is the firm*s distincti)e com%etence or ma2or com%etiti)e ad)antage! <+ Con(#rn for %u*l!( !ma'#s4 ;s the firm res%onsi)e to social& community and en)ironmental concerns! =+ Con(#rn for Em%lo+##s: Are em%loyees a )alua le asset of the firm!

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Prof. Dr. Md. Mahmodul Hasan

Faculty of Business Administration MBA Program 2014

PEST:STEER:PESTE; Anal+s!s

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Prof. Dr. Md. Mahmodul Hasan

Faculty of Business Administration MBA Program 2014

S.OT Anal+s!s

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Prof. Dr. Md. Mahmodul Hasan

Faculty of Business Administration MBA Program 2014

D!a'ram of Por"#r<s 5 -or(#s

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