The importance of an organization to develop a vision, mission and values is important for strategic direction. Without the strong foundation of values illustrated by a vision statement which has to be undertaken by a mission. An organization cannot become an overly successful organization. Without developing a mission, vision, and values to assist in developing a strategy, an organization cannot identify, distinguish or explain itself to its employees and customers alike.
Explaining vision, mission and values using an organization,
Company Name: Unilever
Unilever’s vision mission and value statements are basic foundation for the success of the company’s consumer goods business. The corporate mission statement includes the strategic approaches of the company. In Unilever’s point of view, the mission statement determines how the business addresses the needs of its target consumers. On the other hand, the vision statement provides the development direction of the organization.
Unilever’s vision statement broadly explains what the company needs to do to succeed in the long term. Considering the company’s position as one of the biggest consumer goods firms in the world.
Unilever’s Vision statement.
Unilever’s vision is “to make sustainable living commonplace. We believe this is the best long-term way for our business to grow.” The vision statement provides a special importance on sustainability, specially among consumers.
Commonplace sustainable living is a component in Unilever’s vision statement. This component explains how the company’s efforts in changing its products to match current market conditions. For an example Unilever helps consumers reach their goals to integrate sustainability in their lives, using their products. And the company thinks sustainability is the best way to gain long term success.
Unilever’s Mission statement
Unilever’s mission is “to add vitality to life. We meet everyday needs for nutrition, hygiene and personal care with brands that help people feel good, look good and get more out of life.” This mission statement explains how the company satisfies customers in various aspects of their lives.
Unilever’s vision statement explains how the company is dedicated to be the leader in bringing a sustainable living to customers through consumer goods. However it doesn’t explain the specific details where a vision statement should contain the desired future situation for an example like explaining the market position in the future which will guide to the organizational development.
And the mission statement includes the detailed information of what the organization must do and satisfies standards that require specificity on general strategic approach.
According to Unilever’s website it contains few of their values
• Always working with integrity
• Positive impact and continuous improvement
• Setting out our aspirations
• Working with others
T 1.3 Select an organization of your choice and describe the extent to which this organization meets the objectives of its stakeholders
PepsiCo is an American multinational food, snack and beverage company. PepsiCo’s strategy to meet the stakeholders’ interests is integrated in the company’s Global Citizenship policy, which serves as its primary strategy to CSR.
In the stake holders scenario which the business affect and business get affected by stakeholders, in the company stakeholders have expanded in terms of variety of their demands alongside the companies international growth and expansion. Nonetheless the organization uses CSR (corporate social responsibility) strategy to adopt with the changing business environment, while the interest remain satisfied of stakeholders.
The company has prioritised the stakeholders using corporate beliefs and purpose of the organization. According to Pepsi there are 5 main stakeholders which are:
• Consumers and customers
Consumers and customers
Consumers and customers have the highest priority in the PepsiCo organization. This stakeholders are interested in high quality and reasonably priced products. Based on the interests of these stakeholders, PepsiCo uses continuing innovation processes to improve its products and deliver them with a reasonable price. Such as products under the Pepsi brand. For example producing less sugar products to improve their effects on their consumer health.
The interests of these stakeholders include support for community development programs and protecting the environment. The PepsiCo Foundation provides financial assistance for such programs. The Foundation invests in organizations like Diplomas Now, which supports education and career development in city neighbourhoods. Also, the firm expands recycling and waste management programs. This is called as “Environmental sustainability”
This stakeholder group is interested in career development and fair payments. To address this pepsiCO has a policy “to provide a safe and inclusive workplace globally” where this goal highlights the workplace fairness and the welfare of the employees. PepsiCo has started a loan service for the growth of the employees. PepsiCo believes that employees are significant determinants of the company’s long-term growth.
As stakeholders, investors are interested in PepsiCo’s higher financial performance. These stakeholders affect for the company through availability and cost of capital. The organization believes the approach to focus on consumers/customers, communities, and employees contribute to increase the financial performance.
This stakeholder group is interested in ensuring that companies comply with regulations of the country. PepsiCo’ global legal team and public relations team address issues related to governments. Furthermore, the company has policies for bottlers, distributors, and suppliers to ensure that they comply with government requirements.