bg strategic management chapter 2 2751

CHAPTER 2 VISION, MISSION, STRATEGIC GOALS Strategic Management Department 9/16/202234 http //images google com vn/imgres?imgurl=http //www johnwiley com au/highered/stratmgt2e/0470809299 jpg&imgrefur[.]

CHAPTER 2 VISION, MISSION, STRATEGIC GOALS

 2.1 Business vision

 2.2 Business mission

 2.3 Strategic goals

2.1.1 Definition and roles

 Definition: A vision statement is defined as a direction for the

future, an ambition of the founders for what an organization wants

to become

 Roles:

 To create the foundation value for sustainable development of an

organization

 To guide and orient the development of an organization in the future

 To inspire staffs in an organization

2.1.2 Core value

 Value for customers

 Value for employees

 Value for customers

 Value for stakeholders

Core Value

Vision

Shareholders

Customers

Employees Stakeholders

2.1.3 Requirements

 Simple, clear and easy to understand

 The time should be long enough to achieve significant changes and short enough to create the commitment and consolidate of the whole organization

 Ability to allocate the resources of the organization regards to its size and the time

 Regularly connected by the management board

 2.1 Business vision

 2.2 Business mission

 2.3 Strategic goals

2.2.1 Definition and roles

 Definition: Business mission refers to the purpose, the reason

and the meaning of an enterprise, it also shows the corporate social responsibility

 Roles: A business mission allows an enterprise:

2.2.2 Feature

A business mission:

 Is a statement about the attitude and the prospect of an enterprise.

 Resolves the disagreements in an enterprise.

 Is customer-oriented.

 Declare corporation social responsibility (CSR)

2.2.3 Elements

 2.1 Business vision

 2.2 Business mission

 2.3 Strategic goals

2.3.1 Definition and classification

 Definition: Strategic goals are the status, the milestones, the

specific criteria that the company wants to achieve in a certain period

The strategic goals are to transfer strategic vision and business mission into the specific and measurable goals

2.3.1 Definition and classification (cont.)

 Classification of strategic goals:

 Long-term goals (3-5 years): are the results that the company

have to achieve in the long run Long-term goals are needed for the strategic formulation

 Short-term goals (yearly): are intermediate milestones that

enterprises must achieve annually to reach the long-term goals

The annual goals are needed for Strategy implementation

 Other classifications

- Profit

- Competitive position

- Business performance

- Human resources development

- Relationship with staffs

- Technology and innovation dominance

- Social responsibility

2.3.1 Definition and classification (cont.)

2.3.2 Requirements

 Possibility

 Challenge

 Flexibility

 Measurability

 Motivation

 Rationality

 Intelligibility

Awards (Material + Spirit)

Possibility > < Challenge

Do you have any questions?