Goal setting Vision winter2012

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					      Overview of Today’s Class


• Goal Setting

• Building a Vision
Goal Setting “Process”

     Vision for Yourself




  Individual Objectives/Goals
Building Vision



                      Understanding Vision

       1. What is Vision?
                     Components of Vision

                     Example of Vision

       2. Developing a Vision
                     Class Exercise- Creating Vision
                     Take Home vision Creation (Conservation
                      Crisis Team)
Building Vision


                             What is Vision?

                                  Vision



             Core Ideology                          Envisioned Future




                         Core              Vision Level            Vivid
    Core Values
                        Purpose               BHAG              Description
Building Vision

                                        Core Values


        Core Ideology
                                          Core
                                         Purpose

     Core Ideology defines the enduring character of an
     organization- a consistent identity.

     Core Ideology is:
        Unchanging
        A source of guidance and inspiration
        The glue that holds the org. together

         Consists of two main parts- Core Values & Core
         Purpose
Building Vision


                  Example of Core Values

                        Core Values of
                        Sony (1950’s)

       Elevation of the Japanese culture and national
        status
       Being a pioneer- not following others; doing the
        impossible
       Encouraging individual ability and creativity
Building Vision


                    What are Core Values?

    Core Values are the essential and enduring tenets of an
    organization.

    Core Values:
       Have intrinsic value to those inside the org.
       Stand the test of time

           Organizations tend to have 3 to 5 core values.
Building Vision


                       Example of Core Purpose

                               Core Purpose of
                                Sony (1950’s)

                  To experience the sheer joy of innovation
                  and the application of technology for the
                  benefit and pleasure of the general
                  public.
Building Vision


                  What is Core Purpose?

    Core Purpose is the organization’s reason for being; it
    reflects the people’s idealistic motivations for doing the
    company’s work.

    Core Purpose:
       Can never be fully realized
       Answers the question- We make product or service
         X- Why is this important?
Building Vision


                                           Vision Level
                                              BHAG
      Envisioned Future
                                               Vivid
                                            Description



    Envisioned Future is a concrete comprehensive
    visualization of an yet unrealized aspiration of a
    company.

    It encompasses two parts:- Vision level BHAG and a
    Vivid Description of that BHAG.
Building Vision

                  What is Vision Level BHAG?
       Vision level Big Hairy Audacious Goal

       is:

        Clear, compelling, unifying focal point of effort,

             that acts as a catalyst for team spirit.

        Applies to entire organization

            Requires 10 to 30 years to complete.

        50% to 70% probability of success
Building Vision


                  Example of Vision Level BHAG

                       Vision Level
                      BHAG of Sony
                         (1950’s)

          Become the company most known for changing
          the worldwide poor-quality image of Japanese
          products.
Building Vision
                    Some company BHAG goals...
• Become a $125 billion company by the year 2000 [Wal-Mart,
  1990)
• Became the company most known for changing the worldwide
  poor-quality image of Japanese products (Sony, early 1950s)
• Knock off RJR as the number one tobacco company in the
  world (Philip Morris, 1950s)
• Become the Nike of the cycling industry [Giro Sport Design,
  1986)
• Become as respected in 20 years as Hewlett-Packard is today
  (Watkins-Johnson, 1996)
• Become the Harvard of the West (Stanford University, 1940s)
• Become number one or number two in every market we serve
  (General Electric Company, 1980s)
Building Vision


                  Example of Vivid Description

                           Vivid
                         Description
        We will create products that become pervasive
        around the world… We will be the first
        Japanese company to go into the US market
        and distribute directly. We will succeed with
        innovations that US companies have failed
        at…Made in Japan will mean something fine,
        not something shoddy.
Building Vision


                  What is a Vivid Description?

    Vivid Description is a vibrant, engaging and specific
    description of what it will be like to achieve the BHAG.

    Vivid Description:
        Passion, emotion and conviction are essential
        Translates the BHAG into an image in minds of
         employees.
Building Vision




                  Putting it all Together
Building Vision
                    Vision of Sony in the 1950’s
            Core Ideology                              Envisioned Future

        Core      Elevation of the Japanese        Vision Level    Become the
       Values      culture and national                BHAG         company most
                   status
                                                                    known for changing
    Being a pioneer- not following others;
                                                 the worldwide poor-quality image of
     doing the impossible
                                                 Japanese products.
    Encouraging individual ability and
     creativity
                                                      Vivid
                                                   Description
     Core
    Purpose                               We will create products that become
                                          pervasive around the world… We will be the
 To experience the sheer joy of           first Japanese company to go into the US
 innovation and the application           market and distribute directly. We will
 of technology for the benefit            succeed with innovations that US companies
 and pleasure of the general              have failed at…Made in Japan will mean
 public.                                  something fine, not something shoddy.
                                                 Adapted from Collins and Porras (1996)
Building Vision
                  Personal Vision Statement
            Core Ideology                             Envisioned Future

        Core         Community/Family             Vision Level   Become a well
       Values         Optimism                       BHAG        known political
                     Passion
                                                                  leader and source of
                     Creativity
                                                                  inspiration to those
                     Fun
                                               in my community.
                     Integrity
                     Work-life Balance
                                                    Vivid
                                                 Description
     Core
    Purpose                               I will build a strong personal image
                                          based on care for others as I would for
   To encourage, inspire,                 self. I will engage in endeavors to bring
   create and build positive              families, and people together towards a
   relationships that in turn             common goal. I will be seen as an
   generate strong                        unselfish and passionate leader who is
   communities.                           courageous and pragmatic.
Building Vision


                         Do Not Confuse
                  Core Ideology vs. Envisioned Future

      Core Ideology features..   Envisioned Future features..

        Discovery Process         Creative Process

                                   Changes once BHAG is
        Never changes              attained

        What company stands       What company aspire to
         for                        become.
Building Vision


                                Do Not Confuse
                  Core Purpose vs. Vision level BHAG
      Core Purpose features..           Vision Level BHAG features..


        Can never be completed          Achievable in 10 to 30 years

        Not a specific goal             Clearly articulated goal

        Forever pursued                 Once reached, move on to
                                          next goal.
Building Vision


                                 Do Not Confuse
                             BHAG vs.           Goal

    Vision Level BHAG features..                 Goal (traditional sense) features..

     Strategic Level                         Operational Level

     Company/Departmental Scope              Task Specific
     Long time horizon 10 to
      30years                                 Short time horizon

     What company aspire to                  Used to achieve BHAG
      become.


 Eg. Become the company most known for       Eg. Reach a sales target of$1 000 000 in the
 changing the worldwide poor-quality image   Latin American market in one year..
 of Japanese products.
Building Vision

                   Developing a Vision

                      Class Exercise

     Use Concepts discussed in this Vision Lecture and in
           the Collins and Porras article to develop a:
      Vision for Management BBA program University of
                      Toronto Scarborough
    Tip-

    Use Sony’s Vision as a Template.
Building Vision


                                        Hints
  • There are different stakeholders with their Individual
    Goals

           Stakeholder                      Goal
           Teaching and Co-op Faculty       To be known and connected:
                                            Internationally &
                                            locally
           Research Department              To be a research community of
                                            choice for
                                            internationally recognized world class
                                            knowledge creation
           Students                         The best place to start your
                                            enterprising
                                            business career regardless of what
                                            your
                                            future path may be
Building Vision


         Vision of UTSC Management BBA program
        Core Ideology                               Envisioned Future

       Core
                                                 Vision Level   Be ranked #1 in
      Values
                                                    BHAG        pre-professional
     High academic achievement                                 management
     Invention and experimentation                             education in
     Learning through experience                               Canada through
     Diversity of viewpoints                                   emphasis on the
     Impact on the world and the community                     Co-op experience.
     Interaction/ collaboration/ partnerships
     Social consciousness                          Vivid
                                                                undisclosed
                                                 Description
                  To engage an innovative,
     Core         research-based and highly
    Purpose       collaborative community by
                  proving the best pre-
                  professional management
                  education through the co-op
                  model of education.

				
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posted:7/22/2012
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