Company Aspirations
- The fundamental purpose for an organization!
- Sets the foundation for the company strategy
- While an aspiration is a prerequisite for a strategy, an aspiration without a strategy is a wish.
- Personal vs Organizational
- Purpose of your life? — Mission
- What to achieve in the future? — Vision
- What do you value the most? — Values
- Aspirations should be “coherent”
- Balancing the heart (motivational) and mind (strategic)
- 100% employees aspirations align to organization aspirations
- Aspirations specify sufficient choices on how to compete.
- Setting aspirations is an iterative process.
Mission, Vision and Values
- Mission Statement
- Explains “why” the organization exists
- Transcends product and market cycles
- Motivating
- Short, clear and easy to remember (fits on T-shirt)
- Vision Statement
- Has a finish line, a destination
- Articulates an inspiring future
- Defines a new reality
- Short, clear and concise
- Values Statement
- Specifies behavior to which you aspire
- Reflects choices consistent with strategy
- Aligned with employee/customer values
Goals and Objectives
- Goals
- Goals are broad business results that your company is committed to achieving
- Goals are the link between your company’s strategy and its mission/vision
- Ambitious goals motivate; impossible goals only discourage
- Objectives
- Objectives are specific statements that relate directly to a particular goal (Should include numbers and dates)
- Typically the primary measure of success!
- Should be known and translatable by everybody in the company, at all levels
- Setting S.M.A.R.T. objectives.