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Dramatic changes to media consumption along with technological advances have encouraged brands to become media organisations themselves. The last fifteen years has seen a fundamental shift in the media landscape. Deregulation of the newspaper, magazine and broadcast industries together with technological advances have resulted in the barriers to becoming a media organisation eroding almost completely. The result is an increasingly fragmented media market with the reach (and therefore the importance) of individual traditional media organisations generally decreasing. This has resulted in a vicious circle. As audiences have decreased so have revenues from advertising and sales, resulting in staff cuts that have reduced the quality of the journalism and its value to its audience, further reducing audience size. As audience sizes have shrunk and technology has made it easier and cheaper to publish content, companies have focused on their own publishing capabilities and “brand journalism” has become increasingly common. High quality cameras and video technology have become both cheaper and easier to use. Social media channels, which continue to evolve rapidly, are providing brands with the opportunity to develop their own audiences cost effectively and to communicate directly with them. In short, every company now has the opportunity to be a media company. Developments in website technology, and the importance of search engine rankings, have made it easier and more important for organisations of all sizes to put their websites at the heart of their communications strategies. The cost and effectiveness of websites as publishing platforms varies dramatically however and often dates quickly. The challenge many brands are struggling with is how to make these various technologies work together.
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A vision states what the organization aspires to become in the future. A mission reflects the organization's past and present by stating why the organization exists and what role it plays in society. Goals are the more specific aims that organizations pursue to reach their visions and missions.
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Vision is a dream what a company wishes to become or aspire or intend to be in future. Kotler defines it as a “description of something in future.” A vision answers the question “where we want to be”. It gives us a reminder about “what we want to develop”. A vision statement is for the organization & it’s members, unlike the mission statement is for the customers & clients. Example: the vision of “Wal-Mart” is to become the worldwide leader in retailing. Generic Electric: “We bring good things to life”. Ranbaxy Laboratories: “to become a research based international pharmaceutical company”. FEATURES The vision must be clear. It must be unambiguous. It must harmonies with organization’s culture & values. It should be realistic. It should be concise to be memorised. It incorporates a shared understanding about the nature and aim of the organization. It prepares the foundation for mission & describes that on achieving the mission, how the organization would be placed in a particular position in future. Mission is states that “what the company is, why it exists & the unique contribution it can make”. The mission can be defined as the fundamental or unique purpose that makes it apart from other firms of its type. It indicates the nature & scope of business in terms of product, market & technology. The mission states its core ideology which can be divided into two parts: core purpose & core value. Core purpose is the reason for which the firm exists & the firm stands on core values which it holds. The mission can be reflected through the “mission statement”. The Mission Statement distinguishes one business from other similar firms. It is the statement of the role by which an organization intends to serve its stakeholders. It describes why an organization is operating, what the organization does, who all it serves & what makes it unique. It differentiates an organization from others by explaining its broad scope of activities, its products & technologies it uses to achieve its goals & objectives. Example: Microsoft’s mission is to help people and business throughout the world to realize its full potential. Wal-Mart’s mission is to give ordinary folk the chance to buy the same thing as rich people. NTPC: To make available, reliable & quality power in increasingly large quantities. BHEL: A world class innovative, competitive & profitable engineering enterprise providing total business solutions Characteristics of Mission Statement Both vision & mission statement always exist at top level of an organization and flow towards middle and lower level hierarchy. It should be unique or distinct that every one keeps it in mind. It should be feasible & attainable. It should be clear enough so that actions can be taken. It should be inspiring for the management, employees & society a large. It should be precise & analytical. It should be credible for all the stakeholders. The mission statement of the firm wants to maintain its distinct image & characteristics
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Corporate Vision
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VISION
MISSION & O BJECTIVES CORPORATE
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GROUP-5 DIVYA.S. NAIR
JISMOL.C. VARGHESE NIJIYA.FAROOK NISHA.S RIJO.AUGUSTNE KIRAN.K.S
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AIG
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Hinweis der Redaktion
CORPORATE VISION,MISSION & OBJECTIVES 04/10/10
CORPORATE VISION,MISSION & OBJECTIVES 04/10/10
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