Modual 15 Business Stategy

1.1 ) The overall strategy of a business is what gives a business direction and a way forward. This in turn relates to the ability of a firm to identify how best to match its competencies to the needs and opportunities in the marketplace(s). Organisation's vision is an attempt to establish an ideal future ,rather than to provide a challenging but strict guide for management decision-making.A definition of Vision in a dictionary: “An image of the future we seek to create.”. A vision statement describes in graphic terms where the goal-setters want to see themselves in the future.It may describe how they see events unfolding over 10 or 20 years if everything goes exactly as hoped.
-Tai Hing Catering vision : To be the best producer and most customer recommended diet group.
A definition of Mission in a dictionary: purpose, reason for being ; also, an inner calling to pursue an activity or perform a service.
The Vision describes a future identity and the Mission describes how it will be achieved. A Mission statement may define the purpose or broader goal for being in existence or in the bussiness. It serves as an ongoing guide without time frame .The mission can remain the same for decade if crafted well. Vision is more specific in terms of objective and future state. Vision is related to some form of achievement if successful.
For example, “ We help transport goods and people efficiently and cost effectively without damaging environment “ is a mission statement. Ford's brief but powerful slogan” Quality is Job 1” could count as a mission statement."We will be one amongst the top three transporters of goods and people in North America by2010" is a vision statement. It is very concrete and unambiguous goal.
An objective is what you want to achieve.The objectives of an organisation are important because they govern the values of the