8/8/2019 vmaop

http://slidepdf.com/reader/full/vmaop 1/2

Vision Statement"Vision without action is a daydream. Action without vision is a nightmare." 

Corporate vision is a short, succinct, and inspiring statement of what the organization intends to become and toachieve at some point in the future, often stated in competitive terms. Vision refers to the category of intentions thatare broad, all-inclusive and forward-thinking. It is the image that a business must have of its goals before it sets out

to reach them. It describes aspirations for the future, without specifying the means that will be used to achievethose desired ends. Sustain ITC's position as one of 

India's most valuable corporationsthrough world class performance,

creating growing value for the Indianeconomy and the Company¶s

stakeholders 

Mission Statement  A mission statement is an organization's vision translated into written form. It makes concrete the leader's view of the direction and purpose of the organization. For many corporate leaders it is a vital element in any attempt to

motivate employees and to give them a sense of priorities. (1) serve as filters to separate what is

important from what is not, (2) clearly state which markets will be served and how, and (3)communicate a sense of intended direction to the entire organization. A mission is different

from a vision in that the former is the cause and the latter is the effect; a mission is somethingto be accomplished whereas a vision is something to be pursued for that accomplishment

To enhance the wealth generatingcapability of the enterprise in a

globalising environment,delivering superior and sustainable

stakeholder value

Goal

The major outcome of strategic road-mapping and strategic planning, after gathering all necessary information, is the

setting of goals for the organization based on its vision and mission statement.  A goal is a long-range aim for a

specific period. It must be specific and realistic. Long-range goals set through strategic planning are translated into

activities that will ensure reaching the goal through operational planning.

ITC¶s goals are Trusteeship, Customer Focus, Respect For People, Excellence, Innovation and Nation

Orientation. 

Purpose

General objectives of a firm, as listed in its articles of incorporation or memorandum of 

association.ITC believes that large corporations like itself have both a social and economic purpose. They represent

a coalition of interests, namely those of the shareholders, other providers of capital, business associates

and employees. At the Tata group we are committed to improving the quality of life of the communities we serve. We do

this by striving for leadership and global competitiveness in the business sectors in which we operate. 

8/8/2019 vmaop

http://slidepdf.com/reader/full/vmaop 2/2

AIM

An aim is what a business wants to achieve - This is normally long-term. Aims tend to be where

a business wants to be in 1-5 years and this is communicated to all its stakeholders e.g.

Employees.

Objective 

In order to achieve an aim objectives are usually set. Objectives tend to be linked to the Aims and are

how the Aims are met. A business can have several objectives that are all linked to a single aim.

Objectives are measureable targets e.g. we want to achieve sales of 10 million in European markets in

2012.

S M A R T - Specific, Measured, Achievable, Realistic, Timedaim and objectives of SEBI is to protect the money of investors from frauds in stock markets.