Professional Documents
Culture Documents
Planning
It is the process of determining in advance what should be accomplished, when, by whom, how, and at what cost. process of determining organizational aims, developing premises about the current environment, selecting the course of action, initiating activities required to transform plans into action, and evaluating the outcome.
Plans
Documents that outline how goals are to be accomplished
Describe how resources are to be allocated and establish activity schedules
Types of Plans
Types of Plans
Strategic Plans
Apply to the entire organization. Establish the organizations overall goals. Seek to position the organization in terms of its environment. Cover extended periods of time.
Operational Plans
Specify the details of how the overall goals are to be achieved. Cover short time period.
Short-Term Plans
Plans with time frames on one year or less
Specific Plans
Plans that are clearly defined and leave no room for interpretation
Directional Plans
Flexible plans that set out general guidelines, provide focus, yet allow discretion in implementation.
Standing Plans
Ongoing plans that provide guidance for activities performed repeatedly.
Strategic Intents
Integrative Vision Few
Specific
Many
Vision
Refers to inspirational picture of future Fundamental reason for existence Unchanging core values Huge and audacious but achievable aspiration
Clarity
Brevity- (the quality of using few words when speaking or writing) Reachability Shared vision: shared sense of purpose
Vision Statements
Bharat Electronics Ltd.
To be a world -class enterprise in professional electronics.
Mission
Enduring statement of purpose of existence of the organisation
What is it? What it wants to do? Whom it want to serve?
Reference point Educative value Motivating force Expression of vision, values, beliefs and philosophy
Basic components: customers, product, market, technology, concern for growth, employees, public image
Mission
Unlike vision statement mission statement may undergo changes The entrepreneurial challenge lies in knowing when to modify the mission statement
To avoid stagnation To trap opportunities
Mission Statements
Intel
To do a great job for our customers, employees and stockholders by being the preeminent building block supplier to the worldwide Internet economy. Values Customer Orientation Discipline Risk-Taking Results Orientation Quality Great Place to Work Our values are timeless and do not depend on business conditions.
Andy Grove, Intel Chairman
Mission Statements
Bharat Electronics Ltd.
To be a customer focused, globally competitive company in defense electronics and in other chosen areas of professional electronics, through quality, technology and innovation.
Values - Putting customers first. - Working with transparency, honesty & integrity. - Trusting and respecting individuals. - Fostering team work. - Striving to achieve high employee satisfaction. - Encouraging flexibility & innovation. - Endeavoring to fulfill social responsibilities. - Proud of being a part of the organization.
Mission Statements
Infosys
To achieve our objective in an environment of fairness, honesty and artery towards our clients, employees, vendors & society. Values Customer delight Leadership by example Integrity and transparency Fairness Pursuit of the excellence
Mission Statements
Punjab National Bank
To provide excellent professional services and improve its position as a leader in the field of financial and related services; build and maintain a team of motivated and committed workforce with high work ethos; use latest technology aimed at customer satisfaction and act as an effective catalyst for socioeconomic development.
Form a hierarchy: over the levels Form a network: interdependent and interlocking Multiplicity: many objectives coexist at the same time
Hierarchy of Objectives
Strategic Objectives Corporate Strategic Measures
Objectives
Strategic Objectives
Corporate objectives Evolve directly from mission statement Long term Benchmark for judging performance
Objectives
Bharat Electronics Limited
To be a customer focused company providing state-of-the-art products & solutions at competitive prices, meeting the demands of quality, delivery & service. To generate internal resources for profitable growth. To attain technological leadership in defense electronics through in - house R&D, partnership with defense/research laboratories & academic institutions. To give thrust to exports. To create a facilitating environment for people to realize their full potential through continuous learning and team work. To give value for money to customers and create wealth for shareholders. To constantly benchmark companys performance with best- in -class internationally. To raise marketing abilities to global standards. To strive for self- reliance through indigenization.
Objectives
Intel
The interpretation of our mission, objectives and values means that Intel must supply products that are performance and price competitive, of high quality, and when the customer wants the; offer competitive compensation and opportunities for continuous professional development; deliver a good return on stockholders investments and work hard, as a global citizen, to achieve the goals of the triple bottom line.
MISSION: A concise internally focused statement of the reason for the Organizations existence, basic purpose, values that guide employee activities. Mission should also describe how the organization expects to compete & deliver value to customers. VISION: A concise statement that defines the mid to long term goals of the organization. Vision is external & market oriented and should express-often in colorful or visionary terms-how the organization wants to be perceived by the world.
Steps in a Typical MBO Program 1. The organizations overall objectives and strategies are formulated. 2. Major objectives are allocated among divisional and departmental units. 3. Unit managers collaboratively set specific objectives for their units with their managers. 4. Specific objectives are collaboratively set with all department members. 5. Action plans, defining how objectives are to be achieved, are specified and agreed upon by managers and employees.
A motivational technique
Compatibility of individual and organisational goals People perform better when they know what is expected of them and correlate their personal goals to the organisational goals.
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MBO Process
Enterprise objectives Planning Premises Key Result Areas
Responsibilities
Superiors Objectives Feedback and monitoring Superordinate goals Subordinates Objectives Performance Corrective Measures Periodic Review Final Performance
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MBO
Merits
Improved management More efficient structure Personal commitment Motivational force Effective control
Demerits
Difficulty in setting tangible goals Danger of inflexibility Non quantifiable goals may get ignored
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