Module 1 - SLP

Module 1 - SLP

Strategic Management Process/Vision, Goals, Objectives

Vision and mission statements are of great importance for establishing an organization as it shows where the organization is heading towards? and what is the purpose of the organization? With the help of effective vision and mission statement an organization can manage its business activities accordingly and will be able to take measures that would support the established organizational objectives. Effective knowledge and clear understanding of the business activities is required to develop meaningful vision and mission statement. Nowadays, organizations are heading towards developing strategic vision that shows the business makeup and the future perspectives of the organization. Strategic vision helps the organization getting clarity about what the organization is trying to become and what should be done for it (Ingenhoff et.al, 2010).

The mission statement of the organization should have all the factors that would help the organization in achieving the set organizational targets and objectives. If the mission statement of the organization is not clear the organization might face crucial challenges as it does not know what is the purpose of its existence? It is mission statement that guides the organization to move and strive towards the established vision statement that is where the organization is heading towards? The mission statement should have clear aspects of the strategic vision.

The vision statement of the organization shows the roadmap of the organization's future. It is vision statement that helps the managers or the entrepreneurs of the organization in establishing effective mission statement that would help in accomplishing the vision of the organization in steps (King et.al, 2009). Organization vision statement is the most powerful tool that would represent what is the key business of the organization can be or should in a decade from now. The vision statement is highly capable of:

Shaping the strategy for the organization

Guiding the decision making at managerial level

Influencing the organization to struggle for achieving the set long term objectives

The vision statement should be based on realistic facts and figures and the goals and long term objectives that are set within the vision statement should be implementable and feasible. The vision statement should not be offensive to the public and it should be based on fairness and equity so that the public could rely on the presence of the organization. While establishing the vision statement for an organization the following steps needs to be managed in ...