Mission Statement, Management Philosophy Goals and ObjectivesIntroductionObjectivesMission StatementMission Statement - GuideSound Business PracticeA Focused TeamPositive ResultsWhere to Start?Helpful SitesWhat are objectives?Objectives Are NecessaryWhat Do Objectives Do?FEATURES OF A GOOD OBJECTIVEExample (bad)Example (Good)Management by objectivesSetting ObjectivesHow do you start setting objectives?How do you start setting objectives?Slide 21Slide 22Are there different types of objectives?Strategic ObjectivesTactical objectivesSlide 26Qualitative and quantitative objectives again can split into:Slide 28Relate Objectives to RKR Goals1Mission Statement, Management Philosophy Goals and ObjectivesWhat are Objectives & What do they do?2Introduction •The team will present a statement of philosophy. It may include a team mission statement or other statement that helps frame the week. •The team will present a list of goals and objectives for the week. These are your targets to accomplish. The team will state how these goals and objectives relate to the 3 RKR goals. •The remainder of this Management Plan will include the strategies and actions that your team will undertake to accomplish the goals and objectives. •Goals and Objectives should be Specific, Measurable, Achievable, Realistic, and Time-Bound.3ObjectivesTo Be Successful You Will Need to Have a Mission Statement and Set Objectives for Your Project.By the End of This Session You Will Be Able to:Create a Mission StatementSet Objectives4Mission StatementA Mission Statement describes your unique purpose during your management week. It captures what qualities your team wants to develop, accomplish, and contributions your team wants to make.5Mission Statement - GuideA mission statement becomes a guide for your management week, inspiring you to make decisions that will best help you you reach your goals and fulfill your vision.1. The Mission Statement should be narrow enough to give direction and guidance to everyone in the business.2. Large enough to allow the business to grow and realize its potential.3. Must be realistic, achievable, and brief.4. And, it should capture the essence of an organization without being so vague that it could apply to every other organization too.6Sound Business PracticeWhether you have just launched a new business, want to smooth out some bumps within your existing organization, or want to take your existing business/organization to the next level, you need to implement sound business practices. Publishing a Mission Statement IS a Sound Business Practice.7A Focused TeamWithout a Mission Statement an organization will flounder and pull in different directions. Employees must be clear about business intent if you want a team that's focused on the priorities.This is another great example of where "more is less". The more time that goes by without formally developing and publishing the organizational Mission Statement, the less likely one could focus and position their team to achieve the desired next level of success.8Positive ResultsSome of the positives that can result from establishing a Mission Statement are:Greatly improved business focusEveryone has the same corporate/organizational image - no misunderstandingsEnhances the professional perception of your businessFosters a team oriented environmentEnhances employee moraleHelps attract and retain the best people9Where to Start? Write down ideas for your mission statement.Describe how you want to manage/operate [your management week]Don’t worry if it is not perfect, this is just your first draft.10Helpful SitesWhat should our mission statement say? http://www.nonprofits.org/npofaq/03/21.htmlPrinciples of Strategic Management http://www.csuchico.edu/mgmt/strategy/module1/How to Draft a Mission Statement http://management.about.com/library/howto/ht_stmt.htmWork Place Tool Box http://www.workplacetoolbox.com/index.jsp11What are objectives?Objectives are statements of desired outcomes or expectations“Managing Without Objectives Is Like Taking A Trip Without Knowing The Destination”12Objectives Are Necessary “Objectives Are Necessary If Performance Results Influence Company Survival & Growth” Peter Drucker13What Do Objectives Do?Focus AttentionPeople, Money, EquipmentJustify Reasons for OrdersProvide a Planning BaseGive DirectionProvide DataIndicate Problems14FEATURES OF A GOOD OBJECTIVECAN BE DONEWRITTENCAN BE UNDERSTOODSPECIFIC CURRENT FLEXIBLEA GOOD OBJECTIVE15Example (bad)“The Restaurant Will Receive Few Complaints Next Month.”Unclear - How many is few - not measurableInterpreted differently by different supervisors A vague Goal16Example (Good)“The hotel will achieve 85% room occupancy in the next quarter.”Clear – Measurable – Attainable (?)17Management by objectivesCOMPANYPLANSDEPARTMENTAL & INDIVIDUALMANAGERS’ PLANSIMPROVEMENTPLANSREVIEWMEETINGSCONTROL OF INFORMATION18Setting ObjectivesThe OBJECTIVEWho is responsibleHow will it beaccomplishedWhat is to be accomplishedWhen is it to beaccomplished19How do you start setting objectives?Be RealisticSometimes resources are not availableConcentrate on what is importantNot all objectives have equal importancePrioritize20How do you start setting objectives?Ask relevant questionsYou must know exactly what is to be accomplished How, When, Who & WhyBe results orientedBe clear with your goals & communicationKnow what exactly you want to achieve21How do you start setting objectives?Assign responsibilityGive specific responsibility for assignment areasFix time framesSet deadlines for results to be achieved by22How do you start setting objectives?Measure & MonitorEvaluate & compare - seek / give feedback - revise plan if necessary - develop future objectives & plans23Are there different types of objectives?YES - many….???24Strategic ObjectivesLong range objective planningDeal with cost controlsBudgets, ProfitabilityMarket decisionsMade by top executives usually25Tactical objectivesShort range objective planningDeal with routine tasksOften part of supervisors’ job26How do you start setting objectives?Qualitative objectives- Relating to standards & quality (+/-)- Hard to measureQuantitative objectives- Relating to production achievements- Easier to measure27Qualitative and quantitative objectives again can