Question

Research a hospitality company of your choice: discuss their corporate philosophy * o mission/vision statement o culture o goals o objectives o strategies

please help me discussion this

Answer 1

1. Vision : A Strategic vision is a road map of a company’s future – providing specifics about technology and customer focus, the geographic and product markets to be pursued, the capabilities it plans to develop, and the kind of company that management is trying to create.

Example of vision is TATA Motors Vision To be a world class corporate constantly furthering the interest of all its stakeholders.

2.Mission:A company’s Mission statement is typically focused on its present business scope – “who we are and what we do”; mission statements broadly describe an organizations present capabilities, customer focus, activities, and business makeup.

• Mission should contain elements of long-term strategy as well as desired outcomes they often basic values and the philosophy of the organizations that is perceived by the senior managers at the senior level who write them. A good mission statement should be of precise, clear, feasible, distinctive and motivating.

3.Corporate culture refers to the beliefs and behaviors that determine how a company's employees and management interact and handle outside business transactions. Often, corporate culture is implied, not expressly defined, and develops organically over time from the cumulative traits of the people the company hires. A company's culture will be reflected in its dress code, business hours, office setup, employee benefits, turnover, hiring decisions, treatment of clients, client satisfaction and every other aspect of operations.

4. Goals :Business organization translates their vision and mission into objectives. As such the term objectives are synonymous with goals.But goals have its own features such as:

• Goals are close-ended attributes which are precise and expressed in specific terms. Thus the goals are more specific and translate the objectives to short term perspective.
• goals are strategic objectives that a company's management establishes to outline expected outcomes and guide employees' efforts.

5.​​​​​Objectives : Objectives are organizations performance targets – the results and outcomes it wants to achieve. They function as yardstick for tracking an organizations performance and progress.

All organizations have objectives. The pursuit of objectives is an unending process such that organizations sustain themselves. They provide meaning and sense of direction to organizational endeavour.

   Objective to be meaningful to serve the intended
role must possess following characteristics:

• Objectives should define the organization’s relationship with its environment.
• They should be facilitative towards achievement of mission and purpose.
• They should provide the basis for strategic decision-making.
• They should provide standards for performance appraisal.
• Objectives should be understandable.
• Objectives should be concrete and specific
• Objectives should be related to a time frame
• Objectives should be measurable and controllable
• Objectives should be challenging
• Different objectives should correlate with each other.

  6. Statergies :A typical dictionary will define the word strategy as something that has to do with war and ways to win over enemy. In business organizational context the term is not much different. Businesses have to respond to dynamic and often hostile external forces for pursuit of their mission.

The very injection of the idea of strategy into business organizations is intended to unravel complexity and to reduce uncertainty of the environment. Strategy seeks to relate the goals of the organization to the means of achieving them.

Following other definitions are also important to understand the term:

Igor H. Ansoff : The common thread among the organization's activities and product-markets that defines the essential nature of business that
the organization was or planned to be in future.

Strategies are formulated at the

• corporate,
• divisional and
• functional level.

Strategy is partly proactive and partly reactive: A company's strategy is typically a blend of

(1) proactive actions on the part of managers to improve the company's market position and financial performance and

(2) as needed reactions to unanticipated developments and fresh market conditions.