BU288 Lecture Notes - Lecture 4: Organizational Culture, Swot Analysis
Document Summary
Bu288 lectur 4: vision: vision refers to the blueprint of the company"s future position. It describes where the organization wants to go. It is the dream of the business and an inspiration, an impetus to the planning process. It depicts the company"s ambitions for the business and provides a glance of what the organization would like to be in future: mission: mission outlines the firm"s business, its goals and ways to reach those goals. It explains the reason for the existence of business. It is formulated to help the potential shareholders, stakeholders and investors to understand the purpose of the company. A mission statement helps to identify the business, company intends to undertake: business definition: it seeks to explain the business undertaken by the firm, with respect to the needs of the customer, target audience, and other technologies. With the help of business definition, one can determine the strategic business choices.
