Core values

Mind Map by budhaswe, updated more than 1 year ago
Created by budhaswe almost 6 years ago


(Business Strategy) Mind Map on Core values, created by budhaswe on 04/23/2014.

Resource summary

Core values
1 Beliefs
1.1 Behaviour
1.2 Skills
1.3 Attitudes
1.4 Defines how the organisation should operate
2 Mission & Vision
2.1 Vision
2.1.1 Direction/Perspective of corporate values.
2.1.2 5 to 10 years
2.1.3 Should show commitment to integrity, transparency, openness
2.1.4 vision statement takes your mission and adds an element of human values (mindtools,2014)
2.1.5 Aspiration for tomorrow
2.1.6 Keeling (2013) vision statements drive strategic planning, eases decision-making and increase commitment. clear direction and united understanding that the statements holds. Nevertheless, this requires the statements to be accurately designed, thus if not, it can confuse and do more harm than good. Statements that are not agreed upon might cause organisational conflict which may not be beneficial in the long run.
2.1.7 Where are we going? Hope and Ambition
2.2 Mission
2.2.1 Purpose Today May change if disruptive technologies appear
2.2.2 guide for all of the company's decision-making
2.2.3 Shareholders, leaders and employees are generally the target
2.2.4 should help workers within the organization know what decisions and tasks best align with the mission of the company.
2.2.5 The leaders primary purpose
2.2.6 Link to Organizational Strategy developing company objectives, strategies and tactics to achieve the mission of the organization Generates short and long-term objectives using the mission statement market-share targets revenue or profit goals improved brand awareness Example: Actionable steps or tactics are then developed. Hiring an outside training consultant for a series of service training sessions is a tactic tied to the customer satisfaction goal and the training strategy.
2.2.7 Organisations that lack Mission & Vision, doesnt have the leadership to respond to the constant change of demands and culture.
2.2.8 What do we do?Motivation and porpuse
2.3 Example: On its website, pharmaceutical company Merck includes product, customer, employee and investor interests in its mission statement. It effectively conveys intentions to deliver desired results to each entity. Its vision statement goes into more details about the company's values and includes the phrase "make a difference in the lives of people." This phrase ultimately means that the company makes helping the world with medicine a higher priority than profits in its organizational strategy. The company's vision also notes a desire to be the best health care company in the world.
2.4 Why do we exist today? What do we aspire to be in the future?
2.4.1 Customers Perspective
2.6 Success In teamuilding
2.6.1 • Have clearly defined organizational mission, vision, values and goals
2.6.2 Cearly articulate the mission, vision, values and goals to everyone involved with the business.
2.6.3 Mesh the business’s mission, vision, values and goals tightly into those of each individual so that in achieving individual goals and visions, business goals and visions are also achieved.
2.7 In conclusion, vision and mission statements are the guidelines of a business future direction. They set the standards of what is right and wrong and with good management they can trigger motivation and preserve business culture. If the statements are not managed properly from start, they can lead to creating a false safety and eventually strategic drift.
2.8 Cross-Referencing: The effect of the vision and mission statements can also be seen in the areas of HRM. The type motivation that arises from the relatedness and purpose that the statement gives can be seen in multiple motivation theories. Herzberg’s Dual-factor theory (1968) for example, displays recognition and achievements as the top two motivational factors. These two factors get more emphasise when there is a clear understanding of the organisations direction and the expected outcome
2.9 vision and mission statements’ are also a tool for external communication, particularly in the areas of CSR. Companies use mission and vision statements to increase the transparency to stakeholders, as well as they provide a positive image for the society
2.10 Strategic Purpose
2.10.1 Governance Structure
2.10.2 Stakeholder Expectations
2.10.3 CSR + Ethics
2.10.4 Strategic Direction can be misdirected if there is a disagreement within the organisation and its stakeholders
3 What do we stand for?
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