New Vision Statements And New Mission Statement Marketing Essay

Published Date: 23 Mar 2015

INTRODUCTION

In this given task we have to work as per the vision of the company and also provide new vision statement for the company as per the company can follow. On the same way to look in to the company's mission statement and provide suitable techniques and also develop new mission statement for the company.

OBJECTIVES

To develop a new vision statement

To develop a new mission statement

MISSION STATEMENT

A mission statement is a formal, short, written statement of the purpose of a company or organization. The mission statement should guide the action of the organization and put overall goal, provide a sense of direction and guide decision making. Mission Statement is providing the framework or context within the company's strategy which is formulated.

According to Hill, Mission Statement consist

A statement containing the reason for using your product

A statement of some desired future state

A statement of the key value the organization is committed to

A statement of major goals

An effective mission statement must resonate with the people working in and for the organization, as well as with the different constituencies that the organization hopes to affect. It must express the organization's purpose in a way that inspires commitment, innovation and courage. Organization mission statement answers three key questions.

What are the opportunities or needs that we exit to address?

What are we doing to address these needs?

What principles or belief guide our work?

The mission statement ensure some transparency for investor and employees alike so they can have some confidence as to any potential use of their resources be they capital investment or labour. A mission statement is also designed to ensure that all stakeholder are clear on the overarching purpose of the company so everyone can be focused on the same goals and objective. When someone reads a mission statement in a business plan they are looking to get a feel for the range of activities that the company will focus on in other words its core purpose and what it stands for.

CURRENT MISSION STATEMENT OF TATA MOTORS

Tata Motors is committed in letter and spirit to Corporate Social Responsibility.

STEPS TO CRATE A NEW MISSION STATEMENT

IDENTIFY THE COMPANY'S WINNING IDEAS:

My companies winning ideas what that produce unique product and innovation at the first time in the market.

Internationalization: Tata Motors have great strategy which internationalization of the business. Company mostly focusing in Indian market with that they are also focusing on International business. Tata Motor is operated in different countries with different strategy.

Highly Growth: Tata motor is mostly believes that continued economic growth, Tata motor is outperformed in industry growth with its trust on new product introduction and Tata motor has gained market share in both commercial and passenger care vehicles.

Product Improvement Strategy: Tata motor is believes that customer statisfaction is more important and for that matter they are always trying to improve their product with different facilities as per requirement.

Marketing Capturing with Development: Tata motor is always trying to improvement their market with development in different countries. Tata has already established in different countries through different strategy and their goal. Tata motor is developing their market through collaboration, join venture and partnership with foreign companies.

FINDING KEY MEASURES OF SUCCESS:

Customer Satisfaction: Tata motor is providing customer fully satisfaction before and after Sales services. Even they are very much through about the services. Tata Motor is helping customer 24 hour helpline and breakdown service facilities. Even Tata has highly qualified technician, service advisor and customer relationship officers.

Research and Development: one of the factors of the Tata Motor success is their constant and advance automobile technology through research and development. There is a high emphasis on research that provides the much needed inspiration for the birth of new ideas, which in turn breathes new life in to product.

Acquisition and Merger: Tata motors is always growing and expanding the main way through acquisition and mergers since 2004. Tata Motor has acquired different foreign companies which for development of the company and this is the one of the success for the company.

Innovation: Tata motor's success is based on innovation of the different product which is likely to the customer need and demand. Even Tata Motor is providing product which is more comfortable to their customer.

Follow the Laws as per Countries: Tata Motor is likely follow the Laws as companies required. Tata is also follow the rules like different countries where they set up their business and this is one of the success of Tata Motors.

Follow Code of Conduct Rules: Tata Motor is also follows the code of conduct as per the companies required, Tata Motor has to follow the rule as Tata group of companies, and they have maintained their clause and become success in the market.

Maintaining Relationship with Strategic Partners: One of the Successful factor of the Tata Motor is to maintaining the relation with their partner. For the making growth company maintain their relationship with their partners in different countries.

Stakeholder Involvement: Tata Motor is taking decision with the stakeholder involvement. They are also getting better result from the stakeholder. Tata Motor is one of the best companies to maintain the stakeholder involvement in the company.

Increasing Shareholders: Tata Motor is working to develop their business in different countries and also with that there are increasing in shareholders in Tata Motors.

COMBINE WINNING IDEAS AND SUCCESS:

From the given above data it shows that for success of Tata Motor is depend on the customer satisfaction and provides goods as customer needs. And Tata Motor is also involve the international business strategy is one of the best success of the company. The marketing strategy is one of the best strategies of Tata Motors for promoting the product. Another thing about Tata Motor is innovation of the product as per customer requirements. Tata Motors have been successful in their own might in creating a brand image for itself.

PUT A CONCISE AND PRECISE STATEMENT

NEW MISSION STATEMENT

To gain highly leadership in passenger car market.

VISION STATEMENT

Vision Statement also defines the organization purpose, but this time they do so in term of the organization's value rather than bottom line measure. The vision statement communicates both the purpose and value of the organization. It gives direction about how companies are expected to behave and inspires them to give their best. Shared with customer it shapes customers understanding of why they should work with the organization.

Vision statement is something called a picture of your company in the future but it is so much more than that. Company's vision statement is your inspiration, the framework for all your strategic planning. A vision statement may apply to entire company or to a single division of that company. Weather all part of organization, the vision statement answer the question "where do we want to go?"

Vision statement can be valuable starting point for articulating your values. Companies vision statement will have a huge influence on decision making and the way you allocate resources.

BENEFITS OF VISION STATEMENT

Make it easier to define the action and goals that will help you achieve your vision.

Acts as a yardstick against which you can measure your current reality and your progress.

Allows you to evaluate your value.

TATA MOTORS VISION STATEMENT

Best in the manner in which we operate, best in the production we deliver, and best in our value system and ethics.

STEPS FOR VISION STATEMENT

FIND THE REAL HUMAN VALUE IN THE MISSION:

Tata Motors is associated with the human value is committed to enhancing the quality of life for all people by building a global community based on the human value as Tata Motor shares with common, while celebrating the diversity of culture and religious identities.

Tata Motors is working with the mission is mostly related to the human value of the organization. Tata Motor has ensured that corporate governance practice are compatible with the international standard. Tata Motors has adopted the business excellence as a means of driving excellence. In order to track process on long term strategic goal, balance score card methodology is used. This enable the company to go beyond financial performance to incorporate consideration of environment and society.

http://www.tatamotors.com/our_world/csr-pdf/GRI-report-07-08.pdf

Tata Motor goal and mission statement is to concisely convey the purpose of the company and how the product or service fulfils the needs of its consumers. Tata Motors mission statement about human value is mentioning that highest standard of behavior towards every one we work with the communities where they touch with the environment for which they are impact.

FIND WHAT THE COMPANY IS?

Customers Value:

Customer Value in the Tata Motor is very much high, Tata Motor is developing their product customer expectation in terms of quality and value. Tata Motor mission statement is also based on the customer's value because it shows the social responsibility for the company. Tata motors value long term relationship with the customer based on functional level. Tata Motors is committed to designing process and practices that ensure continue trust of its customers. In mission statement Tata implement customer relationship management program which is done time to time. Customers are treated in the fair manner by the channel member of the company and their needs are also captured and responded to through this programme.

Stakeholders Value:

Tata Motor will also give outstanding value or great return to their stakeholder. Tata Motors is minimize the cost and waste while improving the quality of its products, which is enhancing the skills and satisfaction of its employees and they are contribution about the development of community from which is draws its resources and sustenance. Compare with shareholder value approach.

COMBINE THE MISSION AND VALUE:

Tata Motors mission and value is related with the each other and company for the achieving their vision and mission through the customer value and stakeholder value. Even they are very much strong on the customer value and their satisfaction they are also increasing the shareholders wealth through innovation and going into globalization.