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CHAPTER ONE 1.1 BACKGROUND OF STUDY The function of Leadership – the number one responsibility of a leader is to catalyze a clear and shared vision for the company and to secure commitment to and vigorous pursuit of that vision. As we discussed earlier, this is a universal requirement of leadership, and no matter what your style, you must perform this function. Why is visioning and mission statements so important? What exactly is a vision and a mission statement? And how do we go about setting them? Answering these questions is the essence of this project work. The writer hopes to inspire its readers to put “catalyze a shared vision” as its number one priority. I will present the “Collins-Porras Vision Frame work” – a useful, concrete framework that removes the fuzziness that surrounds the topic yet, at the same time, preserves the magic or spark that’s an essential quality of Vision. Throughout this project I will provide specific pointers on the process of catalyzing a shared vision, I’ll like to provide you a quick snapshot of the overall structure that. Figure 1.1 STRATEGY STRATEGY TACTICS TACTICS Figure 1.1 shows the basic flows: you begin with Vision; move to strategy, and then to tactics. It also shows that vision is composed of three basic parts: core values and beliefs, purpose, and mission. I will explain each of these parts later in the chapter, and give many examples. But first I will explain why an organization should take on the challenging task of setting a vision. Instilling an organization with a lasting corporate vision is a challenging task. As one manager told me, “By asking me to do this you’re setting the bar at a very high level. The purpose of this study therefore, is to ascertain the role which corporate vision and mission statements plays in the overall performance of an organization. 1.2 DEFINITION OF PROBLEM The ability of organizations to formulate a clear strategy can be most tasking for the modern managers. And often times this puts to test the competencies and managerial capabilities of the leader of an organization. There are thousands of pages in management literature written about strategy. Strategic Management is a required course at most business schools. Large consulting firms build client lists by selling “strategy solutions”. There is good reason for this: sound strategy is essential to attaining greatness. But think for a minute about the word strategy. What does it really mean? Strategy is how one intends to go about attaining a desired end. It is the means to an end. Thus, it is wholly impossible to have an effective strategy unless you are clear absolutely clear about what the end point is. Strategy is a path to attaining your vision. Knowing how to get “there” is impossible if you can’t articulate what “there” is. Most companies let crises, firefights, and tactical decisions drive the company. We refer to this as “tactics-driving strategy”. Vision should drive strategy and strategy, in turn, should drive tactics, not the other way around. This may seem obvious and the reader may be wondering why the writer is harping on it. However, its practice is also extraordinarily rare. I’ve noticed that in my short career that in almost every company (including my present organization) with significant organizational problems, one of the root difficulties is the lack of a clear vision. As I write this thesis we have a group of consultants in-house at my company helping us out with a corporate vision. Meanwhile we have a strategy for the organization but no clear picture of what we hope to achieve or where we are headed. I hope the outcome of visioning going on in my organization right now will form the basis for a future work. 1.3 OBJECTIVE OF STUDY Vision isn’t necessary to make money; you can certainly create a profitable business without it. There are plenty of people who have made a lot of money, yet had no compelling vision. But if you want to do more than just make a lot of money – if you want to build an enduring, great company – then you need a vision. If the historical evolution of great companies was examined closely – companies like IBM, L.L. Bean, Hewlett-Packard, Mckinsey & Company, Sony, McDonald, NIKE, Disney among others you will find that at some point, while the company was still relatively small, key leaders instilled a compelling vision into the organization. 1.4 SIGNIFICANCE OF STUDY In view of the great importance that a clear vision and mission statement plays in the overall performance of an organization and the last legacy the presence of such visions leave in an organization a sound and well articulated vision is a basic pre-requisite for an organization that desires to be great and stay above board. This study will be useful to various managers and entrepreneurs of both big and small organizations who are saddled with the responsibility for steering the course of their businesses and ensuring the leave an institution that will survive them and stand the test of time. Though these managers may be acquainted with visioning and mission statements, this study may add more to their knowledge of this topic or even raise questions which may create room for further research. 1.5 BASIS OF COMPARISON In as much as one realizes that no attempt to compare the performance of business can provide absolute answers, however relative insight can be gained as the process of coming up with a Vision, Mission statement and a Strategy can vary from organization to organization. It is therefore reasonable that comparisons should be made between companies with a clear vision and companies without a vision. This writer believes is the only way the reader can fully comprehend and appreciate the impact that visioning makes on an organization. 1.6 SYNOPSIS This work is structured in such a way that Chapter one dealt with the introduction of the research, objective and significance of study, definition of problem and also basis of comparison. Chapter two dwells on the literature review and theoretical framework of the research. Chapter three deals with research methodology focusing mainly on system of research. Chapter four has its main thrust on data presentation and Analysis and finally chapter five is a brief summary, conclusion and recommendation. REFERENCES 1. Vincent, D.R: (1998, March-April). Understanding Organisational Power. Journal of Business Strategy, pp. 9, 40-44. 2. Carlson, F.P: (1990, May-June). The long and short of strategic planning. Journal of Business Strategy. pp. 11, 15-19 3. Shapiro, B.P: (1988, November-December). What the hell is market-oriented? Havard Business Review, 66, 119-125. CHAPTER TWO 2.1 LITERATURE REVIEW Various researches have been carried out on the different aspect of this study, “Impact of Corporate Vision and Mission on an Organization”. Among these researches are those done by Edward O. Welles, Harold Evans, Richard Barrett, Gregory G. Dess among others. Richard Barrett (1998), while writing on “Creating Vision, Mission and Values” recognized that a well-designed vision, mission and values statements are essential for building strong, positive corporate cultures and giving an organization a strategic direction and purpose. The “Four Why’s” process creates inspirational vision, mission and values statements that address the motivations of employees, customers and society-at-large. The vision statement describes how the organization will find fulfillment. The mission statement declares the organization’s core business and sets out its intentions with regards to meeting stakeholders needs. The values create a code of behavioral principles that support the mission and vision and build a cohesive culture. The “Four Why’s” process offers several advantages over traditional methods: 1. It separates the internal motivation from the external motivation of the organization.

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