Introduction: Vision, Mission and Objective
An organization is a structured formation. Organizations are always purpose driven i.e. they have something to achieve which is defined and attainable. Vision, mission and objective of the organization drives this purpose. These three aspects are nothing but statements. These statements are so important that it directs the whole organization. Thus, understanding the concept of mission, vision, goals, objectives and related concepts is essential for understanding the present and future of the organization.
Vision
According to Merriam-Webster, vision is defined as, “the act of power of imagination”. A vision is a future-oriented concept which expresses the position and state that any organization would need to attain in the coming future. A vision statement is the anchor point of any strategic plan.
Nature of Vision
- Vision motivates the employees for their time and energy.
- Vision is futuristic hence it deals with uncertainty. A good vision cultivates a sense of risk taking and experimentation among organizations.
- It’s a sort of blueprint for the business organization which the management is trying to create and achieve
- Vision is participative. It involves the concern and consensus of each and every member related to management of the organization.
Characteristics of Vision
- A good vision is succinct i.e. it is precise and clearly stated with well articulated words.
- Vision is clear statement with stable and understandable terminology.
- A vision is futuristic, unique and realistic and must provide a strategic course to the management.
- A vision must include or reflect the organization’s purpose i.e. it should describe organizational intends to achieve.
- Vision should be flexible enough to uphold the changes in the environment for long term sustainability.
- Vision need to be abstract yet challenging. It should not be too concrete but should be relevant.
Mission
According to Pearce & Robinson-“The company’s mission is defined as the fundamental unique purpose that sets a business apart from other firms of its type & identifies the scope of its operations in product & market terms”.
Mission is a core purpose of organization. It presents why the organization exists nd what purpose it serves.
Nature of Mission
- Mission of an organization is to aim high .
- Mission helps to distinguish one business from another similar type of business.
- It is generally short and to the point.
- Mission defines the values and guidelines of an organization.
Characteristics of Mission
- It should have societal linkage. Linking the organization to society will build a long term perspective in a better way.
- It should provide a strategic direction for the organization which also needs to be realistic and achievable.
- Mission should be precise and clearly understandable.
- Mission is unique and should not copy by any other firm.
- It should contain dynamic aspects to adopt the changes.
- Mission need to be active i.e. it should be a present context.
- Missions are positive and should focus on problems, needs and organization.
Objective
Objective shows the end results of a planned activity. Objectives represent a commitment at a manager level to achieve specific goals and targets in a defined span of time. It also tells the quality as well as the quantity of goals and targets to be achieved, also about the process, the time period, levels and about the authority who is responsible to carry out that objective.
Nature of Objective
- Objectives are quantifiable.
- It is different for different levels in management.
- Objectives play a very crucial role in enhancing the effectiveness and efficiency of any firm.
Characteristics of Objective
- Objectives should be simple, clear and understandable.
- It should be measurable and attainable.
- Objectives can be quantitative and qualitative.
- Objectives need to be flexible and not concrete.
- It should contain dynamic aspects to adopt the changes.
- They should be easily doable and contain all the essential related factors.
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