Question

Identify the components of mission statement & evaluate mission statement of different organization and write effective vision and mission statements.

Answer 1

Components of Mission:-

Company Mission Statement is focused on Scope of a Business- "Who we are and what we do" Mission Statements broadly describe an organization present capabilities, customer focus, activities and business makeup.

Mission should contain elements of long-term strategy, desired outcomes, basic values and philosophy of the organizations that is perceived by the senior managers at the  senior level who write them. It is the growth ambition of an organisation.

The components of a mission considers Services & goods supplied by the organisation, area of existence of organisation, technology used in the business, business objectives, it's customers, employees, organisation culture.

Mission Statement of different organisation:-

(a)Reliance Industries:-

(i) Create value for all stakeholders.

(ii)Grow through innovation.

(iii)Lead in good governance practices.

(iv)Use sustainability to drive product development and enhance operational effciencies.

(v)Ensure energy security of the nation.

(vi)Foster rural prosperity.

(b)TATA Power:-We will become the most admired and responsible Power Company delivering sustainable value by:

(i)Operating our assets at benchmark levels.

(ii)Executing projects safely, with predictable benchmark quality, cost and time.

(iii)Growing the Tata Power Businesses, be it across the value chain or across geographies, and also in allied or new businesses.

(iv)Driving organizational transformation that will make us have the conviction and capabilities to deliver on our strategic intent.

(v)Achieving our sustainability intent of "Leadership with care", by having leading and best practices on care for the Environment, Care for the Community, care for the customers and Shareholders, and care for the people.

Effective Vision and Mission Statements;-

Following points are considered while writing mission statement:-

(1)A good Mission statement should be precise, clear, feasible, distinctive and motivating.

(2)Good mission is unique to the organisation. To establish own special identity, business emphasis & path for development.

(3)It is not to focus on profit but surplus is essential for survival and growth of organisation.

(4)Technology, competencies & activities are important in defining a companies business because they indicate boundaries on it's operation.

(5)A company's business is identified by what needs it trying to satisfy, by which customer groups it is targeting & by the technologies & competencies it uses & activities it performs.

Following points are considered while writing vision statement:-

Vision is the road map of the company's future- providing specifics about technology & customer focus, the geographic & product markets to be pursued, the capabilities it plans to develop, and the kind of company that management it trying to create.

(1)Comping up with mission statement that defines what business the company is presently in and conveys the essence of "Who we are & where we are now?"

(2)Using the mission statement as basis for deciding on a long term course making choices about "Where we are going?"

(3)Communicating the strategic vision in clear, exciting terms that arouse organization wide commitment.