Thursday, March 26, 2015

With specific examples distinguish between vision and mission statements and explain why companies make such statements?

With specific examples distinguish between vision and mission statements and explain why companies make such statements?
A Mission Statement defines the organization's purpose and primary objectives. Its prime function is internal - to define the key measure or measures of the organization's success, and its prime audience is the leadership team and stockholders.Mission Statement:"Supply In-Vitro Diagnostics and Life Sciences products and services to our valued customers at affordable prices without sacrificing services, speed and reliability."(http://www.gms-world.com/sublinks/principle/principles.htm)
Vision Statements also define the organizations purpose, but this time they do so in terms of the organization's values rather than bottom line measures (values are guiding beliefs about how things should be done.) The vision statement communicates both the purpose and values of the organization. For employees, it gives direction about how they are expected to behave and inspires them to give their best. Shared with customers, it shapes customers' understanding of why they should work with the organization.Strategic Intent or VisionTo become the number 3 in InVitro Diagnostics industry and number 2 in Life Sciences Research industry in Pakistan by 2010.(http://www.gms-world.com/sublinks/principle/principles.htm)

No comments:

Post a Comment