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General Business Definitions

Vision, Values, and Mission: How they relate to the Goals & Culture of an Organization September 6, 2006 Rachel Waldo Brett Corday Abby Martin. General Business Definitions.

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General Business Definitions

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  1. Vision, Values, and Mission:How they relate to the Goals & Cultureof an OrganizationSeptember 6, 2006Rachel WaldoBrett CordayAbby Martin

  2. General Business Definitions • Values: Define how people want to behave with each other in the organization. Value statements express how the organization will value customers, suppliers, and the internal community. • Vision:A statement about what your organization wants to become. Should motivate and challenge employees and give shape and direction to the organization’s future. • Mission Statement: Defines what an organization is, why it exists, its reason for being. At a minimum, the mission statement should define who the primary customers are, identify the products and services the company produces, and describe the geographical location in which the organization operates. • Goals:Goals are objective, measurable expectations set to measure progress toward desired results. • Culture:A blend of the values, beliefs, taboos, symbols, rituals and myths all companies develop over time • “Companies whose employees understand the mission and goals enjoy a 29 percent greater return than other firms”- Watson Wyatt Work Study

  3. The Mission Statement Matching Game • We are a global retailer committed to saving people money so they can live better and serving communities around the world. We earn the trust of our customers every day by providing a broad assortment of quality merchandise and services at everyday low prices while fostering a culture that rewards and embraces mutual respect, integrity and diversity. Wal-Mart Sears Target

  4. The Mission Statement Matching Game • Company X's brand mission is to "be our customers' favorite place and way to eat." Our worldwide operations have been aligned around a global strategy called the Plan to Win centering on the five basics of an exceptional customer experience -- People, Products, Place, Price and Promotion. We are committed to improving our operations and enhancing our customers' experience. Burger King Panera Bread McDonalds

  5. What makes it so great?“Our new No. 1 sets the standard for Silicon Valley: free meals, swimming spa, and free doctors onsite. Engineers can spend 20% of time on independent projects. No wonder Google gets 1,300 résumés a day.” - Google tops Fortune Magazine’s ‘100 Best Companies to Work For 2007’ List The Mission Statement Matching Game • To organize the world's information and make it universally accessible and useful. Encyclopedia Britannica Google Ask.com

  6. Case Study: Armstrong World Industries • Publicly-held Corporation • 13,000 employees in 39 locations • 10 countries • Three divisions

  7. Armstrong World IndustriesVision, Values, & Mission Source: online new employee orientation

  8. Armstrong’s Vision • Same since 1860 • “Let the buyer have faith” – Thomas Armstrong • Brand name = Integrity

  9. Armstrong’s Values • Respect • Works in a safe manner and requires same of others • Treats individuals at all levels of the organization with respect and courtesy • Thinks about how one’s actions will affect others and addresses issues in a way that maintains their dignity • Integrity • Upholds the Armstrong Code of Business Conduct • Speaks candidly and forthrightly • Accepts the responsibility for one’s actions • Diversity • Recognizes that the best workforce is diverse • Welcomes the opinions and ideas of all people • Appreciates that different styles and approaches can be valuable to ensure we find the best solutions to our business challenges • Service • Identifies with customers and seeks to understand their requirements • Treats customers as one would like to be treated

  10. Armstrong’s Mission • “All I want is a stinkin’ pencil!” • Challenge of large organization – drown in bureaucracy • Productivity and results

  11. Armstrong’s Culture • Community Involvement • Safety First • Environmental Focus • Diversity • Code of Business Conduct

  12. Determining Goals International Competition, and an ever-changing dynamic competitive landscape drives large corporations to change how the determine their goals. Armstrong World Industries builds strategies from both the top and bottom of the organization. Source: 1000Ventures.com

  13. Armstrong World Industries Organizational Chart The Board Chairman & CEO Building Products Cabinets Floor Products Strategic Planning Vice Presidents OperationPlanning Managers Daily Planning Salaried Staff Hourly Production Workers

  14. Example of Armstrong’s Divisional Goals • Plant Reliability • Safety • Quality • Cost & Capacity Improvement • New Product Development

  15. Performance Management System • Link to Operating & Strategic Plan • Specific • Measurable • Attainable • Realistic • Timely

  16. Case Study: Martin Insurance AgencySmall Private Firm "Watching out for all your insurance needs"

  17. We will commit to living our: Shared Values Respect Integrity Teamwork Professionalism Fun & Humor Commitment

  18. Compelling Vision A caring Team of Insurance Professionals dedicated to educating, serving and protecting families and businesses.

  19. Energizing Mission • We Strive each day to: • Act with integrity • Seek & embrace diversity • Listen, educate & learn • Provide solutions • Create energy and fun • Support our community

  20. Case Study: Teach For AmericaNon-Profit Organization

  21. History Founded in 1989 by Wendy Kopp, as an undergraduate thesis. Only 500 Corp Teachers in 1990, selected out of 2,500 recent college grads Their purpose was to provide equal education for all in the American school system

  22. Today 26 Rural and Urban communities served More than 5,000 Corps in service, 12,000 alumni 425,000 students impacted by TFA annually, 3 million since 1990 Map of TFAcoverage

  23. Founder, Wendy Kopp CNN report, “People You Should Know” Watch Video

  24. Organization Highlights Mission: To close the achievement gap that exists between low-income students and their higher-income peers Vision: To utilize the nation’s best and brightest college grads by recruiting them to teach Values: TFA Corps have strong academic backgrounds and leadership qualities Culture: Corps are professional, act with integrity and constantly seek to further the TFA vision. They have the ability to motivate and influence others while demonstrating strong critical thinking skills. Lastly, Corps have respect for the students and families in low-income communities.

  25. Organizational Goals First, to increase the number of Corps teaching and regions taught in, while remaining diverse. Second, to maximize the impact of Corps on student achievement Third, to foster leadership from Corp alumni as a force for change Forth, To build and enduring American Institution

  26. How it all works together!

  27. How it all works together! Goals Mission Statement Vision Values Culture

  28. Questions? ?

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