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Strategic intent is the leveraging of firm’s internal resources,
capabilities and core competencies to accomplish the firm’s
vision, mission and objectives in a competitive environment.
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It is all about winning competitive battles and gaining
leadership position by putting organizational resources to
best use.
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According to R Howard, “strategic intent tries to establish the
parameters that shape the values, motives and actions of
people throughout their organization.”
Hierarchy of Strategic Intent
Vision
Mission
Objectiv
Vision
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Vision refers to an inspirational picture of a future that
can be created, offering clarity amidst confusion, hope
against despair, and unity of purpose amidst diversity of
personal causes.
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Basic elements of a Vision:-
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An organization’s fundamental reason for existence beyond just
making money
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Its timeless, unchanging core values.
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Huge and audacious but achievable aspirations for its future.
Examples of Vision
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BHEL:- “A world class innovative, competitive and
profitable engineering enterprise providing total
business solutions.”
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Colgate - Palmolive:- “To be the company of first
choice in oral and personal hygiene by continuously
caring for consumers and partners.”
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NTPC:- “To make available, reliable and quality
power in increasingly large quantities.”
Mission
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Mission provides the fundamental philosophy that what
is the firm in reality and what it wants to be.
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It clarifies the very purpose of the corporation.
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It also represents the corporation’s guiding principles.
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Pearce and Robinson say that “the company mission is
defined as the fundamental, unique purpose that sets a
business apart from other firms of its type and identifies
the scope of its operations in product and market
terms.”
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Hunger and Whalen have defined mission as “purpose or
reason for organization’s existence.”
Examples of Mission
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Cadbury India:- “To attain leadership position in the
confectionery market and achieve a strong national
presence in the food drinks sector.”
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Ranbaxy Laboratories:- “To become a research-
based international pharmaceutical company.”
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ONGC:- “To stimulate, continue and accelerate
efforts to develop and maximize the contribution of
the energy sector to the economy of the country.”
Features of Mission
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Mission is the basic reason of existence and legitimization of an
organization.
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It is defined in terms of benefits which are provided by the firm
to society.
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It is defined from the outside of an organization.
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It shows long-term commitment of an organization.
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It is dynamic and can be changed according to change in
environment.
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It is a fundamental work and responsibility which is given by
society to an organization.
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It is very comprehensive term which is the basis of objectives
goals and strategies.
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It shows philosophy, values, character and principles of an
organization.
Qualities of Mission
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Feasible
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Precise
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Clear
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Motivating
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Distinctive
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Specific
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Dynamic
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Values, beliefs and philosophy
Objectives
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An objective indicates the result that the organization expects to
achieve in the long run.
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It is an end result, the end point, something that you aim for and try
to reach.
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McFarland defines that “Objectives are the goals, aims or purposes
that organization wish to achieve over varying period of time.”
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According to Glueck and Jauch , “Objectives are those ends which
the organization seeks to achieve through its existence and
operation.”
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Thus, it is clear that objectives are that requisite result which an
organization want to achieve in fix time duration.
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These are the end results which are explained in qualitative and
quantitative form. Every organization’s members make efforts to
achieve them.
Features of objectives
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Objectives are that result which every organization and
its member want to achieve together.
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They are based on organization’s mission and purpose.
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They are related to future but which are determined in
present.
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They are determined not only for an organization but
also for every part (department, employees etc.) of an
organization.
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They have certain time duration.
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They are inter-related.
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They remain according to organization hierarchy.
Classification of objectives
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Primary Objectives
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Secondary Objectives
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Short-term Objectives
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Long-term Objectives
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Equilibrium Objectives
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Improvement Objectives
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Individual Objectives
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Social Objectives
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Performance Objectives
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Official Objectives
Goals
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Goals are those basic plans that directs final results of
projected action of any unit. Every organization has
multiple goals that can be personal, organizational, or
can be on official level.
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According to Peter Brian Quinn, “goals state what is to
be achieved and when results are to be accomplished.”
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According to Ansoff, “Goals have the following features,
they (i) are derived from objectives, (ii) offer a standard
for measuring performance, (iii) are expressed in
concrete term, (iv) are time-bound and work-oriented.
Importance of goal setting
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Help in decision making
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It gives base to a company for long term
existence
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Stability
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Provide guidelines
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Support in control.
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Define responsibilty
Vision, Mission, Objectives and
Goals: Mutual relationship
Vision
Mission
Objectives
Goals