BUSINESS FUNDAMENTALS
FOR ENTREPRENEURS
Prof. Devdip Purkayastha
Indian Institute of Technology Bombay
Desai Sethi School of Entrepreneurship
https://www.iitb.ac.in
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MODULE 3
VISION, MISSION,
GOALS
STRATEGY &
CULTURE
WEEK 2, MODULE 3
VISION, MISSION, GOALS
STRATEGY & CULTURE
PART 1
WEEKS 1 - 4
OVERVIEW OF A
01 COMPANY & STRUCTURES
BUSINESS? 02
VISION, MISSION, GOALS INNOVATION & PRODUCT
03 04
STRATEGY & CULTURE DEVELOPMENT
MANUFACTURING FINANCE &
05 06
& QUALITY ACCOUNTING
LEADERSHIP & ENVIRONMENT, SOCIETY
07 08
HUMAN RESOURCES & GOVERNANCE
Module-3 Topics
Company Purpose
Company Values
Vision & Mission
Company Goals
Company Performance
Company Reporting
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Company Purpose
A Purpose Statement is an explanation of the
company’s motivations and reasons for being, and why
it works the way it does.
It should answer the question ‘Why do We Exist?’ Thus,
it helps employees understand the bigger & longer term
picture, inspiring them to do their best work, increasing
engagement, and fulfilling the company's greater
purpose.
For the external world, it can help with effective
branding and communicating the company's values to
customer, suppliers, investors and society at large.
Purpose must be genuine & be lived-by every day.
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Company Purpose
https://www.drreddys.com/who-we-are
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Company Purpose
https://www.pfizer.com/about/purpose
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Company Purpose
https://www.infosys.com/about.html
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Company Purpose
https://www.amd.com/en/corporate-responsibility/purpose
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Company Purpose
https://www.mahindra.com/investor-relations
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Company Purpose
https://corporate.ford.com/about/purpose.html
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Company Purpose
https://www.boozallen.com/about/our-values-and-ethics/leading-with-purpose-and-values.html
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Company Purpose
https://www.coca-colacompany.com/company/purpose-and-vision
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THREE MINUTE
REFLECTION
Please reflect and try to craft your own ‘Personal Purpose
Statement’ in your open life.
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WEEK 2, MODULE 3
VISION, MISSION, GOALS
STRATEGY & CULTURE
(Continued Part 2)
Company Values
Values are the fundamental beliefs that govern the
collective actions of a company and all employees.
They guide and inspire how company employees
act and interact. They guide company decisions
about what to do and what not to do, how to do and
how not to do.
Core values should be sacrosanct and not be
compromised for convenience or short-term
financial gain.
Core values often reflect the values of the
company’s founders and survive through
generations of managers and employees. 17
Company Values - Examples
Working Internally
Honesty & Integrity
Respect for Each Other
Innovation
Passion
Excellence
Resilience
Working Externally
Customer Focus
Doing Good – Environment, Society
Win-Win Partnerships
Transparency
Thought Leadership
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Vision & Mission
VISION
A ‘Vision Statement’ is a description of the
desired future state of the company. An
effective vision inspires the team, showing
them how success will look and feel.
MISSION
A Mission Statement is a definition of the
company’s business, who it serves, what it
does, its objectives, and its approach to
reaching those objectives.
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Mini Case Studies
https://us.pg.com/policies-and-practices/purpose-values-and-principles/
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Mini Case Studies
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Mini Case Studies
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Mini Case Studies
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Mini Case Studies
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Mini Case Studies
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Mini Case Studies
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Mini Case Studies
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Mini Case Studies
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Mini Case Studies
https://www.larsentoubro.com/corporate/about-lt-group/vision/ 29
Mini Case Studies
https://www.tata.com/about-us/tata-values-purpose
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Mini Case Studies
& others
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Mini Case Studies
https://www.tata.com/about-us/tata-values-purpose
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Mini Case Studies
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Mini Case Studies
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Mini Case Studies
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Mini Case Studies
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Mini Case Studies
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Mini Case Studies
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Mini Case Studies
https://www.iitb.ac.in/en/about-iit-bombay/institute-vision-mission 39
Vision & Mission - Example
https://www.microsoft.com/en-in/about/
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Vision & Mission - Example
https://www.ikea.com/gb/en/this-is-ikea/about-us/the-ikea-vision-and-values-pub9aa779d0
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THREE MINUTE
REFLECTION
Think of a Company you work for or would like to work
for. From it’s website try to find out and reflect on:
What is its Purpose’?
What are its ‘Vision’ & ‘Mission’?
What are its ‘Values’?
If You started a new company as an entrepreneur:
How would you define your company ‘Purpose’?
How will you set your company ‘Vision’ & ‘Mission’?
What ‘Values’ will you establish?
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WEEK 2, MODULE 3
VISION, MISSION, GOALS
STRATEGY & CULTURE
(Continued Part 3)
Company Goals
360* Goals
Financial goals
Customer goals
Employee goals
Shareholder goals
Growth goals
Process goals
Innovation goals
Social & Environmental goals
SMART Goals
Specific
Measurable
Achievable
Relevant
Time Bound
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Company Goals
SMART Goals
Sets direction
Provides transparency
Increases co-ordination
Motivates employees
Establishes accountability
Helps track performance & progress
Helps identify gaps and obstacles
Helps plan resources & training
SMART Deployment
Clarity
Communication
Consistency
Collaboration
Commitment 45
Company Reports
https://investors.larsentoubro.com/Quarterly-Results-Archives.aspx
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Company Results
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THREE MINUTE
REFLECTION
Think of a Company you work for or would
like to work for. Assuming it is listed and
published the results on it’s website:
What are it’s Financial goals?
What are the Employee goals?
What are the Environmental goals?
What are any other goals announced?
What are the key results?
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End of Module
Indian Institute of Technology
Bombay
IIT Bombay, Powai, Mumbai 400 076, Maharashtra, India
Phone: +91 (22) 2572 2545 | Fax: +91 (22) 2572 3480
https://www.iitb.ac.in
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