Sustainable Growth:

Strategic Management

Corporate Vision, Mission, Goals and Strategies

Traditional and New Approaches to Corporate Vision and Strategic Intent Formulation and Use

Vadim Kotelnikov personal logo Vadim Kotelnikov

Founder, Ten3 Business e-Coach Inspiration and Innovation Unlimited!

 Author of Smart & Fast mini-courses Strategic Management, 3 Strategies of Market Leaders,and Smart Business Architect

  

  

  "Vision without action is a daydream. Action without vision is a nightmare." ~ Japanese proverb

 

Corporate Vision, Mission, Goals Attitude Motivation New-to-the-world Product Development Sustainbale Value Creation Winning Organization Creating a Corporate Vision GE (case study) Microsoft (case study) Fun4Biz.com - Global Home for Creative Achievers Ten3 Business e-Coach: why, what, and how 1000ventures.com Strategic Alignment Purpose of Your Business Strategic Intent Inspiring Corporate Culture Corporate Vision: Providing Purpose, Direction, and Motivation

 
 

10 Rules for Building a Great Business

  1. Believe in your vision and your business. Commit to it... More

The Tree of Business

3 Strategies of Market Leaders

1.   Visionary and Daring Growth Strategies

  1. Vision and Stretch... More

Lessons from Konosuke Matsushita, Founder of Panasonic

10 Lessons for Corporate Leaders

  • A leader should have a vision... More

Smart Executive

 

Creating Customer Value

10 Lessons from Konosuke Matsushita

  • Company’s vision must be driven by the aspirations of its customers... More

12 Effective Leadership Roles

  1. Create an inspiring vision, give direction and set stretch goals... More

 
 

 

6Ws of Corporate Growth

  1. Know WHY: develop corporate vision, define shared values, and build corporate capabilities... More

Building a Team Culture

10 Action Areas

  1. Provide an inspiring vision... More

Corporate Vision May Contain Commitment to:

  • Developing a great new product or service... More

Choosing Between Strategy and Opportunity Approach

Use Strategy Approach

Use Opportunity Approach

Known environment

Unknown environment

Stable environment

Unstable environment

Building on existing competencies, capabilities, products, markets

Building on new competences, capabilities, products, markets

Need consolidation

Need rapid growth

Need stability and certainty

Need change, accept uncertainty

Lack capacity for flexibility, corporate venturing, and speed

Established capacity for flexibility, corporate venturing, and speed

5 Things You Should Know To Win

Source: The Art of War by Sun Tzu

  1. Victory comes from everyone sharing the same goals... More

The Four Skills of an Effective Competitor

Source: The Art of War by Sun Tzu

  1. Vision: the ability to foresee the future... More

Developing The Fast-Paced Flexible Culture

By: Michael Dell

  • Set a Common Goal. Mobilize your people around a common goal. Help them feel a part of something genuine, special, and important, and you'll inspire real passion and loyalty... More

 

 

The Tao of Employee Empowerment

  • Yin: Help your people to get rid of "employee" mentality

  • Yang: Inspire, challenge imagination... More

6 Attributes of Successful CEOs

  1. Creating, Communicating and Executing a Clear Vision, Goals and Strategy. An executive's success is affected by the ability to communicate a vision for a company's future, helping employees to navigate through change and motivating them to achieve specific goals... More

Leadership and Management

GE Leadership Effectiveness Survey (LES)

Three Main Benefits Attributed to Mission Statements

  1. They can help companies to focus their strategy by defining some boundaries within which to operate.

  2. They can define the dimensions along which an organization's performance is to be measured and judged.

  3. They can suggest standards for individual ethical behavior.

 

Instead of Introduction

For the vast majority of companies, having well-defined visions and mission statements changes nothing. The exercise of crafting them is a complete waste of time and talent if visions and mission statements are used for nothing but being published in the annual report and displayed in a reception area.

"One of the chief reasons for the failure of missions and visions to achieve the desired objective is the naiveté of most company managers and executives. Nothing happens by magic".5 To be able to energize employees to work towards corporate objectives, visions and missions should be more than a sign on the wall. Executives and managers should live them, be seen living them, and constantly communicate them to their employees.

9 Signs of a Losing Organization

  1. Fuzzy Vision: corporate vision and mission don't inspire people; lack of strategic alignment; people don't know where the organization is going and what it is trying to achieve in the future... More

Balanced Organization: 5 Basic Elements

Leadership (Fire):

Vision

Corporate vision is a short, succinct, and inspiring statement of what the organization intends to become and to achieve at some point in the future, often stated in competitive terms. Vision refers to the category of intentions that are 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 achieve those desired ends.

Warren Bennis, a noted writer on leadership, says: "To choose a direction, an executive must have developed a mental image of the possible and desirable future state of the organization. This image, which we call a vision, may be as vague as a dream or as precise as a goal or a mission statement."

29 Obstacles To Innovation

Leadership-Management Synergy

Leaders: Provide vision. Managers: Provide resources.

Resulting synergy: Employee empowerment... More

Leadership vs. Management

8 Common Errors in Organizational Change Efforts

By: John Kotter

  • Underestimating the power of vision

  • Undercommunicating the vision... More

Inspiring Culture: 5 Elements

5 Keys to Building a Great Company

By: Narayana Murthy, Founder of Infosys

  1. Vision: You have to create a grand, noble vision which elevates the energy, enthusiasm and self-esteem of everyone in the company while ensuring that everybody sees a benefit in following the vision... More

Tips for Making the Vision a Reality

 Case in Point  General Electric

At General Electric (GE) the corporate vision is 'We bring good things to life'.

The corporate success depends on the vision articulated by the chief executive or the top management. For a vision to have any impact of the employees of an organization it has to be conveyed in a dramatic and enduring way. The most effective visions are those that inspire, usually asking employees for the best, the most or the greatest. Make sure you keep stretch in your vision, communicate it constantly, and keep linking the events of today to your vision, underscoring the relationship between the two.

25 Lessons from Jack Welch

 Case in Point  Ford Motor Company

The Ford Motor Company vision is 'to become the world's leading consumer company for automotive products and services'.

 Case in Point  Ten3 Business e-Coach

The Vision of Ten3 Business e-Coach, is "To inspire innovation and help people and companies create a more inspiring world."

Strategic Intent

A strategic intent is a company's vision of what it wants to achieve in the long term. It must convey a significant stretch for your company, a sense of direction, discovery, and opportunity that can communicated as worthwhile to all employees. It should not focus so much on today's problems, which are normally dealt with by company visions and missions, but rather on tomorrow's opportunities.

"To achieve great things, you need ambitious visions. And it does not matter that vision cannot be laid out in details. It is the direction that counts."3

Inspirational Leadership: 10 Roles

  1. Provide an inspiring vision and strategic alignment, launch a crusade. As an inspirational leader, you must envision the future, passionately believe that you can make a difference, and inspire people to achieve more than they may ever have dreamed possible. You must see a changed world beyond the time horizon, create an ideal and unique image of what it could become, open your followers' eyes and lift their spirits. You must believe that your dreams can become reality and, through your attitude, get people to see exciting opportunities and possibilities for the future. People change and unlock their inner power when they are emotionally engaged and committed.... More

7 Principles For Transforming Your Business From Mediocre To Great

  1. Know Your Compelling "Why." Viktor Frankl, the great Austrian psychiatrist, said it best: "Success, like happiness, cannot be pursued; it must ensue ... as the unintended side effect of one's personal dedication to a cause greater than oneself." For what "transcendent" purpose does your business exist? How does your business make a difference in your customers' lives?... More

 

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.

A mission statement should be a short and concise statement of goals and priorities. In turn, goals are specific objectives that relate to specific time periods and are stated in terms of facts. The primary goal of any business is to increase stakeholder value. The most important stakeholders are shareholders who own the business, employees who work for the business, and clients or customers who purchase products and/or services from the business.

 Case in Point  Google

Google's mission is "to organize the world's information and to make it universally accessible and useful."

 Case in Point  Facebook

Facebook's mission is to lead a more open and connected world.

 Case in Point  Fun4Biz

Fun4Biz is not just a social network, it helps people grow, shine, and prosper... More

Setting Goals

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.

Set Stretch Goals

Corporate Strategy

Strategy is a very broad term which commonly describes any thinking that looks at the bigger picture. Successful companies are those that focus their efforts strategically. To meet and exceed customer satisfaction, the business team needs to follow an overall organizational strategy. A successful strategy adds value for the targeted customers over the long run by consistently meeting their needs better than the competition does.

Strategy is the way in which a company orients itself towards the market in which it operates and towards the other companies in the marketplace against which it competes. It is a plan an organization formulates to gain a sustainable competitive advantage... More

 

 Discover much more in the

FULL VERSION of e-Coach

Two Functions of Your Corporate Vision...

The Importance of Values and Mission...

Key Elements of the Mission Statement...

Questions Addressed by Mission Statements...

Four Approaches to Setting a Mission...

Strategic Intent vs. Traditional Visions and Missions...

Launching a Crusade...

Balancing Four Perspective to Achieve the Organizational Strategy...

Lessons Taught by Fastest Companies...

Brand Vision...

The 8 Stage Change Process...

Strategic Goals: Development Criteria...

Examples of Strategic Goals...

Questions To Be Answered by Your Strategy...

FutureStep - a New Strategic Management Process...

Lessons from Jack Welch: Articulate Your Vision...

Setting Objectives...

 Case in Point  Silicon Valley Companies

 Case in Point  Chrysler...

 Case in Point  Infogrames...

 Case in Point  HP...

 Case in Point  GE...

 Case in Point  AMD...

 Case in Point  Microsoft...

 Case in Point  Hotmail...

 
 

  

 

References:

  1. Guide to Management Ideas, Tim Hindle

  2. Built to Last: Successful Habits of Visionary Companies, Collins, J. and Porras, J.

  3. The 10-day MBA, Steven Silbiger

  4. Extreme Management, Mark Stevens

  5. It's not the BIG and eats the SMALL... it's the FAST that eats the SLOW, J. Jennings, L, Haughton

  6. The 22 Immutable Laws of Marketing, Al Ries & Jack Trout

  7. Changing Strategic Direction, Peter Skat-Rørdam

  8. The Leader's Guide To Lateral Thinking Skills, Paul Sloane

  9. Jack Welch and the GE Way, Robert Slater

  10. The Welch Way, Jeffrey A. Krames

  11. Develop a Clear Vision, Brian Tracy

  12. Quotes: Vision for Innovation