Hey people..I am sorry for being off the cloud for so many days. A week, i fear. PGDM is taking it's toll. And so the post today is also about the idea I found most interesting amongthis week's classes.
The idea I had was about talking of the mission statements of the firm's in general. A mission statement is what guides the long term plans of a company. It does not and should not focus on short term goals. It is to act as a beacon to simply guide the ship away from the rough waters and not guide it home.
The mission statement should focus on the needs of the people, like the firms in the business of public or private transport should have a mission to move people from one place to the next. Without focusing on the wants or demands of the people. By wants I mean what people believe that they need, like to satisfy the need of going from place A to place B people may believe that they want an easy to drive, fast, efficient and if possible enviornment friendly private mode of transport. These wants should be found in mid-term focus statement because probably this will be what the demand will be for, in five to ten years from now. But immediate or short-term goals is only what should focus upon the demand. Like with economic slowdown, the demand may be only for a Maruti 800 but focussing on it's demand even in mid-term period is going to see the firm in deep financial crisis.
Khair..for now I am too tired. Will post again tomorrow.
Take care everyone *peace*
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