Answer to Question #314741 in Management for shan

Question

1.Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion. Discuss how often should an organisation’s vision/mission be changed in light of strategy evaluation activities. Formulate the organisational vision, mission, goals and objectives of the organisation.

Answer 1

When developing a business or organization, determining a direction and establishing goals is critical to the business success. Creating a mission or vision statement that's specific to the venture helps the business or organization move forward. As the organization evolves, one might feel tempted to change his/her mission or vision. Nevertheless, mission or vision statements explain the organization's foundation, so change should be kept to a minimum. Mission and vision statements describe the foundation of an organization or business. Unless the business or organization changes its focus completely, it’s not necessary to change the mission or vision statement. However, as the organization or business evolves, one might incorporate additional elements into his/her mission or vision statement. This might include building on the present goals or expanding the audience.

When a major shift occurs in technology, it is a good time to revisit the vision statement for a business. While one may not feel the current industry shift warrants a change, it will keep him/her alert to any change in future that might warrant attention. However, a vision should be a far-reaching beacon. After establishing the mission statement, it should be reviewed by the board periodically to consider organizational, economic, and community changes. This review should determine whether the mission is still relevant, and whether or not it should be adapted to address evolving needs. For example, a fast food business mission can be ‘To provide the highest quality product at the lowest possible price, the best consumer experience in the industry, and respect for their employees, business partners, and community. Vision can be ‘To be the world's favorite quick-service fast food restaurant’.