MGMT 4P90 Lecture Notes - Lecture 2: Intangible Asset, Triple Bottom Line, Iller

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Chapter 2: leading strategically: vision, mission, and goals. Vision: what the organization hopes to become in the future, it is a tool to bring hope and inspire others. It highlights the values and adaptations of the organization. A formulated vision may give an organization an edge over its rival . It is the reaso(cid:374) for the orga(cid:374)izatio(cid:374)"s e(cid:454)iste(cid:374)(cid:272)e a(cid:374)d (cid:449)hat roles it pla(cid:455)s i(cid:374) so(cid:272)iet(cid:455). A good (cid:373)issio(cid:374) state(cid:373)e(cid:374)t i(cid:374)di(cid:272)ates (cid:862)(cid:449)ho are (cid:449)e? (cid:863) and why key stakeholders should support the organization . A vision and mission should not be divided. 1. 3 pursuing the vision and mission through smart goals. Goals: narrower aims that an organization should have to help support their visions and missions . The goals need to be smart because they provide clarity, transparency, and accountability . Specific: a goal is explicit rather than vague . Measurable: the extend of whether the goal is achieved can be quantified. Time bound: does it have deadlines: assessing organizational performance.

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