Question

1. Briefly, describe the nature and use of the following corporate planning tools:
   1. Values statement
   2. Mission statement
   3. Vision statement
   4. Organizational goals
   5. Organizational objectives
2. What are some of the budget types used within health services organizations? Briefly describe the purpose and use of each.

Answer 1

Value statement: Value statement indicates the values company stands for. It indicates how the corporate governance is conducted and implemented in the company. They act as guide for the board of the directors to run the company and it is their duty to integrate them in the mission and vision of the company

Mission statement: Mission statement is an amalgamation of the key metrics related to the operations of the company like :

• Why it exists ?
• What’s the key long purpose objective ?
• Its key offerings
• Customers
• Target geography, etc.

Vision statement: Vision statement indicates the key objective of the company, that is, the difference that it seeks to make through achieving its stated mission. It indicates how it seeks to make an impact on the world or global community through its services

Organization goals: Goals are used to keep the company on track. They help the companies to expand in order to meet the financial and operational objectives. Depending upon the progress, it is important that organisations keep revisiting and updating the goals