The essence of vision is a forward-looking view of what an organization wishes to become, mission is what an organization is and why it exists.


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Business Strategy

Case Study (20 Marks)

The essence of vision is a forward-looking view of what an organization wishes to become, mission is what an organization is and why it exists. Several years ago, Peter F Drucker raised important philosophical questions related to business what is our business? What will it be? What it should be? These three questions though simply worded are in reality, the most fundamental questions that any organization can put it itself. The answers are based on an analysis of the underlying need of the society that any organization strives to fulfill. The satisfaction of that need is them, the business of the organization.

Answer the following question.

Q1. Define vision? And explain the benefits of a vision?

Q2. What do you mean by mission?

Q3. How are Mission statements formulated and communicated?

Q4. Explain in detail the characteristics of a Mission statement?
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