2. Hierarchy of Organization Objectives Vision Mission Objective Goal Policies Procedure Programmers Budgets Forecasts Bharti Bhutani
3. Vision Vision -: It describe the future situation where company want to see itself. It inspire to all member of the organization toward their destination. Question to attempt: “Which business do we want to exist?” Bharti Bhutani
4. Our Vision "PepsiCo's responsibility is to continually improve all aspects of the world in which we operate - environment, social, economic - creating a better tomorrow than today." Bharti Bhutani
5. Mission is the statement of the role by which an organization intends to serve it’s stakeholders. It describes why an organization is operating and thus provides a framework within which strategies are formulated. It describes what the organization does (i.e., present capabilities), who all it serves (i.e., stakeholders) and what makes an organization unique (i.e., reason for existence). Mission statement answers the question: “What is our business?” Bharti Bhutani
6. Our mission is to be the world's premier consumer products company focused on convenient foods and beverages. We seek to produce financial rewards to investors as we provide opportunities for growth and enrichment to our employees, our business partners and the communities in which we operate. And in everything we do, we strive for honesty, fairness and integrity. Bharti Bhutani
7. Objective is the end result of the planned activity. They state what is to be accomplished by when. The achievement of corporate objectives should result in the fulfillment of a corporation’s mission. Bharti Bhutani
8. Pepsico objective is to double the market value from $ 13 million to $ 20 million by the end of 2010. Pepsico Bharti Bhutani
9. Goal is often used interchangeably with the term objectives. It is an open-ended statement of what one wants to accomplish with no qualification of what is to be achieved and no time criteria for completion. For e.g.-: we would double our market share. Bharti Bhutani
17. Procedures Procedures are a system of sequential steps or techniques that describe in detail how a particular task or job is to be done. They typically detail the various activities that must be carried out in order to complete the corporation’s programs. Bharti Bhutani
18. Policy It’s a broad guideline for decision making that links the formulation of strategy with its implementation. Example-: Pepsico considers every individual as a leader. This leadership is expressed in the way; tasks are assigned and taken up. Bharti Bhutani
19. Programs It’s a statement of the activities or steps needed to accomplish a single-use plan. It makes the strategy action oriented. It may involves restructuring the corporation, changing the company’s internal culture, or beginning a new research effort. Bharti Bhutani
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21. They assembled on elite team of engineers and scientists to do long-term, original research into computer chip.Bharti Bhutani
22. For example Raymond implemented a NOS- it helps to identify stock status and maintain minimum stock levels of key garments in showrooms to increase retail turns without maintaining unnecessary stocks. Bharti Bhutani
23. Budget Budget is a statement of a corporation’s programs in terms of dollars used in planning and control, a budget lists the detailed cost of each program. Many corporations demand a called a “hurdle rate”, before management will approve a new program will significantly add to the corporation’s profit performance and thus build shareholder value Bharti Bhutani
24. For example General Motors budgeted $ 4.3 billion during 2000 through 2004 to update and expand its line of automobiles. With the money, the company is increasing the number of models from 5 to 9, and offering more powerful engines. The company hopes to reverse its declining market share by appealing to a young market Bharti Bhutani
25. Forecasting Environmental scanning provides reasonably hard data on the present situation and current trends, but intuition and luck are needed to predict accurately if these trends will continue. The resulting forecasts are, however, usually based on a set of assumptions that may or may not be valid. Bharti Bhutani
