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Develop the

DM 214 Strategic Planning1st Semester 2013

Module 11

Formulating and Adopting Strategies

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Reported by:

Brenda G. PaderesRonald O. Acosta

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…Definitions

Vision - a guiding concept of what the

organization is trying to achieve, where it wants to be in the future.

- is seeing a future state with the mind’s eye.

- is applied imagination.

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…Definitions (cont…)

Vision - it sees opportunity

inside the challenge.

- it represents desires, dreams, hopes, goals & plans for the future.

- it’s like a blueprint of a house before it is built.

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Developing a Strategic Vision

Involves thinking strategically about Firm’s future business plans Where to “go”

Tasks include Creating a roadmap of the future Deciding future business

position to stake out Providing long-term direction Giving firm a strong identity

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Characteristics of a Strategic Vision

Charts a company’s future strategic course

Defines the business makeup for 5 years (or more)

Specifies future technology-product-customer focus

Indicates capabilities to be developed

Requires managers to exercise foresight

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Entrepreneurial Challenges inForming a Strategic Vision

How to creatively prepare a company for the future

How to keep the company responsive to Evolving customer needs Competitive pressures New technologies New market opportunities Growing or shrinking

opportunities

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…Definitions

Mission - is a statement of purpose to

reach your vision. a statement of the purpose of

a company or organization  guide the actions of the

organization, spell out its overall goal, provide a path, and guide decision-making

organization's purpose, its raison d'etre or reason for existing

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…Definitions

Mission

- A company's mission is its reason for being. The mission often is expressed in the form of a mission statement, which conveys a sense of purpose to employees and projects a company image to customers. In the strategy formulation process, the mission statement sets the mood of where the company should go.

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Characteristics of a Mission Statement

Defines current business activities Highlights boundaries of current business Conveys

Who we are, What we do, and Where we are now

Company specific, not generic —so as to give a company its own identity

A company’s mission is not to make a profit !The real mission is always—“What will we do

to make a profit?”

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Defining a Company’s Business

A good business definition incorporates three factors Customer needs -- What is

being satisfied Customer groups -- Who is

being satisfied Technologies and competencies

employed -- How value is delivered to customers to satisfy their needs

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Your VISION — MISSION Statement

Should include the best of both

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Communicating the Vision—Mission

An exciting, inspirational vision

Challenges and motivates workforce

Arouses strong sense of organizational purpose

Induces employee buy-in

Galvanizes people to live the business

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Strategic Visions vs. Missions

A strategic vision concerns a firm’s future business path -- “where we are going” Markets to be pursued Future technology-

product-customer focus

Kind of company that management is trying to create

A mission statement focuses on current business activities -- “who we are and what we do” Current product and

service offerings Customer needs

being served Technological and

business capabilities

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Ref: http://www.worksystems.com/services/strategic_planning.html

Translating the vision & mission Into Strategic Direction

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Managerial Value of a Well-Conceived Strategic Vision and Mission

Crystallizes long-term direction

Reduces risk of rudderless decision-making

Conveys organizational purpose and identity

Keeps direction-related actions of lower-level managers on common path

Helps organization prepare for the future

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of an Electric Cooperative

Examples of Vision/Mission

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Our Vision and Mission Statements

VisionWe envision of becoming the outstanding electric cooperative (in the Philippines) with the most reliable and competitive power rate using the modern technology in providing excellent service. MissionTo deliver quality service and affordable power rate for the satisfaction and delight of member-consumers.

Pangasinan III Electric Cooperative

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VisionA competitive and financially viable electric distribution utility in an environment of open access and retail competition.

MissionEffective, reliable service through unity, cooperation and commitment.

Central Pangasinan Electric Cooperative

Examples: Vision and Mission Statements

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Vision“BENECO shall be a model electric cooperative, delivering quality service in order to sustain a progressive and ecologically soundcommunity.”

Mission“We commit to extend our lines and services to all areas of Baguio City and Benguet Province. We continuously engage in the development of our resources in consonance with and in adherence to standards.”

Benguet Electric Cooperative, Inc.

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VisionTo become a globally competitive electric distribution utility providing the best quality service to its progressive communities and satisfied consumers.MissionTo electrify all households within its coverage area and continually adopt innovative ideas that will ensure a reliable, affordable and efficient electric service to all its consumers.

Nueva Ecija 2 Electric Cooperative, Inc.

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VisionTo be recognized as a leading, caring and committed electric cooperative.

MissionTo be a provider of quality and dependable supply of electricity at a reasonable cost;To be a leading partner of our government in improving the quality of life of our member-consumers, in promoting progress; and in sustaining development; andTo be the steward of welfare of our member-consumers by providing them mindful, accurate and prompt service.

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Vision“A responsible leader in utility service“

Mission"Committed to provide our customers with reliable, efficient and responsive electric service at reasonable cost“.

La Union Electric Company

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VisionA dynamic light distributor and service delight for life.

MissionTo uplift the status and quality of life by providing Efficient, reliable, safe and affordable power for member-consumer ‘s satisfaction.

Zambales II Electric Cooperative, Inc.

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VisionAn electric cooperative with highly-professionalized services for customer delight. MissionTo deliver quality electric service for the cooperative's area coverage up to the last sitio as well as the delight of its customer and manpower.

Bohol Electric Cooperative, Inc.

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.

Ilocos Norte Electric Cooperative

VISION“To be the preferred distribution utility in an open-access environment. “

MISSION“ We are committed to our member-consumers to provide safe, reliable and efficient electric service at a reasonable cost through dedicated officers and employees. "

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Pangasinan III Electric Cooperative

We envision of becoming the outstanding electric cooperative (in the Philippines) with the most reliable and competitive power rate using the modern technology in providing excellent service.

To deliver quality service and affordable power rate for the satisfaction and delight of member-consumers.

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Vision and why it matters?

guiding concept of what the organization is trying to achieve seeing a future state opportunity inside a challenge desires, dreams, hopes, goals

for the future long term direction strong identity

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Organizational Core Values of PANELCO III

Honesty Unity

Thrift Commitment

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Value Formation Core Team

VFCT was created by PANELCO III purposely to:

1. assist management in the resolution of critical issues and concerns of its operation;

2. serve as role models in the practice of cooperative values;

3. monitor effectiveness of the prescribed core values and innovate strategies/approaches; and

4. conduct bench marking activities relative to core values enhances enhancement from other successful organization

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