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This report focuses on Mission, Vision and Value Statements of an organization. The report provides the full details on the goals of the organization. The report also consists of developing the organizational strategy by taking the views of the managers. Apart from this I have also mentioned the stakeholders role in the business like power and influence of the stake holders and it has a brief explanation about the stakeholders represents more challenges than opportunities. The report also consists of developing the mission statements of the 3 organizations after having a look on their purpose, values and behavioural standards. I have used appropriate concepts, tools and techniques and also provided the recommendations to improve the business.
Services to improve the organization:
After analyzing the 3 views of different authors, Milton Friedman, Charles Handy’s and S Davies, we can go with Milton Friedman’s view of profit maximisation. In this literature he explains about the social responsibilities of the business. In every organization the private property system or a corporate executive is the staff of the owners of the business. Employers are the direct responsibilities to the owners. Those responsibilities conduct business in accordance with business’s desires of making more profits. In some cases the owners have different objectives for the employers.
The primary responsibility of the manager is to keep the business going with the profit and to establish a corporation with the individuals who can run the organization smoothly.
The performance of the manager is not easy to judge, as how well he is doing the job. But the criteria is straightforward, and all the criterion that are exists in voluntary contractual arrangement should be clearly defined.
The corporate executive has their own rights of course. Voluntarily the corporate executive has many other responsibilities that he may recognize to his conscience, his family, his feelings of the charity etc. Social responsibilities are not of the business. They don’t affect the running of the business. As discussed in these cases the corporate executive is spending someone else’s money for a social interest. And this may affect the earning to the stockholders. If he is doing so and not running the business smoothly then there will be a great loss to the stockholders and the owners of the company.
If they want they can spend the money separately in case of stock holders, customers or the employees. Rather than serving as an agent the corporate executive is exercising a distinct social responsibility if he have spent the money in some other way than actually he would have spend it.
If he does so then, there will be effect on the taxes and he have to decide how the taxes should be paid.
The tax processes are the governmental functions and there will be other expenditure on theses taxes. To control these functions, we have different judicial provisions, parliamentary and constitutional provisions. To separate the function of legislative we have different systems of check and balance and there are different functions of collecting the taxes according to the law.
The businessman if it is self selected or may be appointed directly/indirectly should be legislator, executive and jurist. To improve the business of the organization the leader should be motivated and have to be fully confidence in running the business. Then only we can achieve the organizational goals easily with the less investment.
The implications of these views for manager’s development of organizational strategy are: If we go as per Milton Friedman a manager can develop the organizational strategy with the social and corporate responsibilities together. While doing both of them together the manager cannot be able to focus on every single job. To achieve the organizational goals, the managers have to take care of both the responsibilities social and corporate. In the view of Milton Friedman “The business of business is business”. And this is done to increase the profit. If the employees are not satisfied with the work then they work elsewhere. If the customers are not satisfied they can take the business elsewhere. So the manager have to prepare an organizational strategy in such a way that it increase the profit.
According to the Charles Handy’s view Shareholders should be the whole and sole owners of the business. So that they are the only persons responsible for the losses and profits of the organization. We have to be accurate to call them as the investors and the owners of the business. They can prepare the organizational strategy in such a way that it should improve the business day by day. They need to take care of all the responsibilities given to the employees and have to take care of their basic needs like food, shelter and other living things. By this the employees will be motivated and will work more fast. If the business running smoothly then there will be an increase in the profit of the organization.
S. Davies, J. Lukommik and D. Pitt Watson addresses the view on the organizational strategy in their book, The New Capitalists. As per this view the business is the property of its stock owners and they have to serve their interest in the business. There are millions of pension holders and other savers that own the biggest organizations all over the world. These owners have to be highly diversified in their investments. They have to keep a record of all the investments they made and they also have to keep record of whatever they are getting profit. If the owner of the company takes the interest in the business, then the success will be all to them only. As per their view the managers have to concentrate on the success of the business. However, they need to have a look and have to serve in such a way that there must be an increase in the profit.
Conflicting needs, power and influence of Stakeholders:
The Stakeholders represents more challenges than opportunities. Different group of stakeholders have their different interests. Some of them are common stakeholders interests and some of them are conflict stakeholders.
The Employees and the stake holders have the common interest in success of the business. If there is a high profit in the business, then their jobs will be secured and more profit to the stakeholders. In the prosperity and growth of the firm, the suppliers have their own interest. There may be an expense in the dividend if wages are raised. There may be an expense of the short term profits if the managers have an interest in organizational growth.
Stakeholders power and influence: The stakeholders represents more challenges than the opportunities. The study of the stake holders should not have to be a limited as it impacts on the growth of the organization. What is more important in the context of strategy is the power and influence of the stake holder and this may affect the objectives and goals of the organization. This may be a risk to the organizational growth. The firms are most probably affected by the stake holders itself if they take risk. There will be an external pressure and an internal pressure.
External pressure includes the pressure from the customers, suppliers, government (through the taxation and spending), market place and including competitors. The internal pressure to the stake holders comes from their trade unions, employees, managers and the existing commitments. And it also comes from the moral and ethical perspective of the senior managers.
To have the power and the influence and for the need, the stake holders must have the desire to exert influence must have to be coupled with the means of the liabilities on the company. The power of the stakeholders reflect the extent to which: They can disrupt the strategies and plans of the organization. They can cause the uncertainty in plans. Stakeholders are the need of the organization and organization is relying on them.
Primary and Secondary Stakeholders: The distinction of the stake holders can be divided into two group of stakeholders. i.e.. Primary Stakeholders and Secondary Stakeholders.
Primary Stakeholders are those that are most vital to the organization. And they are the group without whom the continuous participation of the company may not survive on the running of the business. For example, supplier and customer. Secondary stakeholders are those the company can be still exist without them. And the company can participate as well.
Organization managing & handling Share holders issues of ethics, corporate governance and regulations:
The internal stakeholders have their own perspective which they might pursue, for example, organization’s profit is the need of the manager and high wages and favourable work conditions are the need of the employees. There will be an extensive power to the managers. The Internal stakeholders have the negative power that can be impede while the implementing of the strategy. The stakeholders can threaten the industrial actions. They can give threaten to resign. And they may refuse to relocate.
The share holders are the whole and sole owners of the organization, they have the voting rights and they can buy or sell the shares to takeover.
The government issues can be handled by share holders in the following ways. It is unacceptable if they are publicising the business activities. If there is a political change then there will be a change in the law. They can refuse to buy goods or services from the fro named firms. They have to make sure that there should not be any illegal actions held.
These are the two main components of the business. They provides managers the unity of the direction and transcends the well conceived vision of the business. The first ideology to make the mission statement There are two components in the mission statement. They are: Core Ideology and Envisioned Future. The Core Ideology defines that organization stands for what and why it is exist. This ideology is to create the demands of the business to change the process and to help the organization getting better. It defines the future of the organization and the goals and objectives of the organization depends on these vision and mission statements. If we prepare these statements in a good and strategic manner then we can get good results in the business.
When the vision statement expressed and becomes tangible then it will become a mission statement. For a manager, to lead the organization such statement verbalizes the beliefs. The definition of the mission is to define the enduring purpose and fundamental purpose of the firm that sets the statement apart from the firm in similar business.
Mission statement of Tata Steel
The mission statement of Tata Steel is to achieve the sustainable and profitable growth in the steel and other related businesses. Through the innovative offers they have to create the differential value for the customers. There should be a step by step improvement in the technologies and the business processes. They have to get into partnership with the key stake holders faster. To create a high performing and the innovative organization they have to enhance the employees’ competencies. They need to be a responsible corporate citizen and have to enhance the quality of life of the employees as well as community.
The mission of the Tata Steel embodies the philosophy of the business of strategic decision makers and they would like to achieve the sustainable and the profitable growth that reflects the organization’s self concept like as always being the innovative organization and the high performer. Competencies, technologies, company activities and the customer needs are the key components to design a good mission statement of an organization. In the same way, with the help of new technology and the new business processes they have created a well designed mission statement to serve the customer and for the high performance.
Mission Statement of Metropolitan Police:
The Mission statement of the Metropolitan police is to working together for a safer London. The main aim of the metropolitan police is to develop the police services across Northern Ireland, Wales and England to improve the response of police to those victims of the cyber crime. The mission statement also includes for the most serious cyber crime incidents to be nationally investigated and they should be capable of doing the investigation. Working together by all the other partners, colleagues and all the citizens. Delivering the quality service. Responding the complaints quickly. Working as a team as each one have different part to work for a safer London.
Mission Statement of Villeroy & Boch:
The mission statement of Villeroy & Boch is to be leading lifestyle brand in Europe high competence and to present the trend style for the living and high end design. They believe that their success is by the enthusiasm of the customers and they can do it by showing their products and services to the customers. They always takes the constant challenges to satisfy the customers, a variety in the brand should be there to satisfy the customer needs. By having the innovative and committed employees a long run in the strong market can be achieved. The main task of them is to motivate the employees and cultivate their team spirit, to achieve their personal and joint goals they have to encourage them.
Following trends is enough to be a successful, constant and to be a leader in the market. To secure the competitive edge and to be recognized worldwide they have to shape trends early on. Earning power is the important concern to maintain the long term success of the company. Appropriate dividends, constant and high rate of returns, earnings oriented growth and balanced portfolios are the fundamentals for this. They feel obligated not only to the employees, customers and share holders but also to the society and the environment.
Development of Mission Statement:
The purpose, strategy, values and behavioural standards are the key factors of mission statements. Below are some of the points that are suggested to improve the mission statement of the above three cases. In the case of Tata Steel the main point that is suggested is they have to make use of new technologies to improve the business and be the number one in the competitive market. In the case of Metropolitan Police, the key point suggested is, they require a system that is faster than the current system. They have to act on the complaints quickly. They have to open metropolitan police stations available in each area of London. In the case of Villeroy and Boch if they have to be on number one in the competitive market they have to produce variety in their products. Customers always look for variety with the cheaper price. So they have to make the products in cheaper prices.
Involve Key Stakeholders and Staff.
Research and Review EOF Plans and Research college.
Research and Review EOF missions and College.
Determine how & where EOF supports/fits college mission
We can use guides to develop the mission statements.
The most powerful motivator in an organization
Vivid description of the organization as it effectively carries out its operations.
Compelling description of the state & function of the organization once it had implemented the strategic plan
Represent the core priorities in the organization’s culture, including what drives members’ priorities and how they truly act in the organization
Establish core values from which the program would like to operate
Articulating values provides everyone with guides to choose among competing priorities & guidelines about how people will work together.
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