Chapter 2: Vision, mission, strategic goals and

corporate social responsibility

Course: 3 credits
Object: University degree

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 Nội dung

 2.1. Creating vision

 2.2. Building business mission

 2.3. Setting strategic goals

 2.4. Corporate social responsibility (CSR)

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 2.1.1. Definition and role of vision
 Definition: A vision statement is defined as a direction
for the future, an ambition of the founders for what an
organization want to become
 Roles:
 To create the foundation value for sustainable development of an
organization
 To guide and orient the development of an organization in the
future Wh
 To inspire staff in an organization we at do
wan
beo t to
me
?

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2.1.2. Core value of vision

 Value for customers

Vision
 Value for employees
 Value for customers
 Value for stakeholders

Shareholders
Customers

Core Value

Stakeholders Employees

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2.1.3. Requirement of vision

 Simply, clear and easily understandable

 Long time enough to achieve significant changes but short time

enough to create the commitment and consolidary of whole

organization
 Possible to create the resource concentration of an organization

regards to size and time of an organization.

 Frequently connected by senior executives

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Vision statement examples

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 Nội dung

 2.1. Creating vision

 2.2. Building business mission

 2.3. Setting strategic goals

 2.4. Corporate social responsibility

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Strategic Management Department
2.2.1. Definition and roles of business mission
 Definition: Business mission refers to the purpose, the reason and
the meaning of an enterprise, it also shows the corporate social
responsibility.
 Roles: A business mission allows an enterprise:

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2.2.2. Feature of business mission

A business mission:
 Is a statement about the attitude and the prospect of an
enterprise
 Resolves the disagreements in an enterprise
 Is customer orientation
 Declare corporation social responsibility (CSR)

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2.2.3. Content of business mission

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2.2.3. Content of business mission
 Customers: who are the customers?

 Product/service: what are the main products/services?

 Market: where are the main markets?

 Technology: The most considerable of enterprise is techonology, isn’t it?

 Survival growth profit : Do businesses have to be bound to financial goals?

 Business philosophy: What are the beliefs, values ​and priorities of enterprises?

 Self-concepts: What are special competencies or competitive advantages of

enterprises?
 Care of community: Do enterprises take care mainly of community?

 Care of employees: How enterprises take care of employees?

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Mission statement examples:

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Mission statement examples:

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2.2.4. Building vision and business mission

Step 1 Step 2 Step 3 Step 4 Step 5 Step 6

Forming Analyzing Redefi- Building Implemen Monitor-
the external ning idea strategic -ting ing and
innitial and of vision and strategic adjusting
idea of internal strategic business vision and strategic
strategic environ- vision and mission business vision and
vision and ment business mission business
business mission mission
mission

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Building business mission

 Defining business
 Determining main goals
 Creating philosophy of company

3C principles

Company itself Competitors

Customers

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 Building business mission (cont)
 Defining Business
 Determining main goals
 Creating philosophy of company

Three-dimensional frame Abell’s business

A suitable business for enterprises must

satisfied 3 elements:
- Customer groups,
- Customer needs,
- technology to use

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 Building business mission (cont)
 Defining Business
 Determining main goals
 Creating philosophy of company

Determining main goals Creating philosophy of company

Hamonize the main objectives of

three targeted-groups: The company’s core philosophy
 Enterprise: maximizing profits; reflects the beliefs, values,
 Customers: satisfying consumer fundamental aspirations and key
demand; ideas that strategists pursue
 Society: public welfare

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 Nội dung
 2.1. Creating vision

 2.2. Building business mission

 2.3. Setting strategic goals

 2.4. Corporate social responsibility

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2.3.1. Definition and classification of strategic goals

 Definition: Strategic goals are the status, the milestones, the

specific criteria that enterprises want to achieve in a certain
period.
The strategic goals are to transfer strategic vision and
business mission into the concret and measurabe goals.

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2.3.1. Definition and classification of strategic goals (cont)

 Clasification of strategic goals:

 Long-term goals (3-5 years): are the resutls that enterprise

have to achieve in the long run. Long-term goals are needed

for the strategic formulation.
 Short-term goals (yearly): are intermediate milestones that

enterprises must achieve annually to reach long-term goals.

The annual goals are needed for strategic implementation.

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2.3.1. Definition and classification of strategic goals (cont)

 Another classification:
- Profit
- Competitive position
- Business performance
- Developing human resources
- Relationship with staff
- Leading in the technology and innovation
- Social responsibility

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 2.3.2. Requirement of strategic goals

 Possibility
Awards
 Challenge (Material + Spirit)

 Flexibility
 Measurability
 Motivation
 Rationality
 Intellibility Possibility > < Challenge

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 Nội dung

 2.1. Creating vision

 2.2. Building business mission

 2.3. Setting strategic goals

 2.4. Corporate social responsibility (CSR)

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2.4.1. Definition and content of CSR
 Definition: Social responsibility implies actions and constraints that protect
and improve the wellbeing of society with the interests of the enterprise.
 Content:
 Enterprises must adjust the errors as necessary
 Enterprises have to combinate with customers to solve problems
 Enterprises have a responsibility to setting-up standard business and self-
regulation.
 Enterprises must acknowledge publicly their mistakes.
 Enterprises have to blame for appropriate social programs
 Enterprises must contribute to the improvement of ecological environment.
 Enterprises have to keep track of the changes in the world.
 Enterprieses must establish and follow the rules of themselves.
 Enterprieses must have a public opinion on social issues
 Enterprieses have to try to make a profit on the basis of being.
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2.4.2. Relations between CSR and business performance

SOCIETY
(goal: community welfare)

Harmony between
goals

Harm-
ony

CUSTOMER COMPANY
(goal: satisfying demands) (goal: profit)

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2.4.3. Social responsibility for multi-ownership enterprises in
the context of a Socialist-oriented market economy

 Develop a set of standards on social responsibility based on 12

world conventions and the laws of Vietnam.

 Protect the prestige of the enterprises for consumers.

 Understand and excute well social responsibility standards: paying

taxes, protecting the enviroment; protecting the interest of

employees and local communities, etc

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 Question, please?

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