IMPORTANCE OF MISSION AND VISION OF THE FIRM IN THE CORPORATE STRATEGIC PLANNING PROCESS

Vision, mission and values are key elements of an organizations strategic planning. They must be approved by the board of directors and should be communicated to staff, volunteers, members and other stakeholders.

Vision
The vision sets out what the organization wants to accomplish, and should inspire members, staff and supporters. Vision statements may describe: how things would be different as a result of the organizations activities eg. Canadian Cancer Society: Creating a world where no Canadian fears cancer how the organization wants to be seen by others eg. Canadian Institute of Chartered Accountants: We are Canadas most valued, internationally recognized profession of leaders in senior management, advisory, financial, tax and assurance roles Good visions are aspirational. Some are hardtoreach ideals while others are more modest or describe objectives that are achievable in the near future. In either case, the vision helps establish the unique contribution that the organization makes to society. From a practical perspective a vision can be a quick, memorable way to describe the organizations reason for being. This can be valuable in times of crisis when it helps to remember what is really important. The vision and mission are often published in the organizations annual reports, brochures and fundraising materials.

Mission
The mission typically describes what the organization does to achieve its vision. Because the vision is often expressed as a dream or ideal, the mission helps clarify the practical aspects of what the organization will actually do. Most missions emphasize action, using such words as: support, involve, assist, contribute, provide, promote, etc. eg. United Way of Toronto mission: To meet urgent human needs and improve social conditions by mobilizing the communitys volunteer and financial resources in a common cause of caring The organizations mission must be compatible with its legal purposes and must meet the requirements for notforprofit and (if applicable) charitable status. A good mission statement is concise and precise. It should identify the organizations key stakeholders and set out how the organization will serve them. eg. CNIB (Canadian National Institute for the Blind) mission: To enhance independence for people with vision loss and to be the leader in promoting vision health

Shared values influence everything an organization does, as well as its relationships with stakeholders and its reputation. Values may be expressed as beliefs, guidelines or rules, and may be set out in a code of conduct. Eg. Canadian Red Cross Values: Integrity and accountability Ethical practices Quality Caring and compassion Clientfocused Responsiveness A statement of values can provide guidance when tough decisions must be made, for example in allocating scarce resources, or when presented with a donation from a group which may be incompatible with the organizations mission. The values, mission and vision are key elements of a notforprofit organizations strategic planning process, and will guide the development and delivery of program services and activities. Further information on strategic planning for notforprofit organizations can be found in the CICA publication 20 Questions Directors of NotforProfit Organizations Should Ask about Strategy and Planning, authored by Hugh Lindsay. Much of this discussion is based on that publication. The content above is provided for general information only and does not constitute legal advice. The views expressed are those of the author and do not necessarily reflect those of the Canadian Institute of Chartered Accountants.

ANALYSIS OF STRATEGIES OF INFOSYS

Strategy: Infosys has adopted a client-focused strategy to achieve growth. Rather than focusing on numerous small organizations, it focuses on limited number of large organizations throughout world. In order to cater its clients, the company emphasizes on custom-built softwares. Another differentiating factor for Infosys is that it commands premium margins. Company does not negotiate over margins beyond a certain limit and some time prefers to walk-out rather than compromise on quality for lowcost contracts. This has helped in building an image for quality driven model rather than costdifferentiating model. Increase business from existing and new clients: Infosys has focused on expanding the nature and scope of engagements for the existing clients by increasing the size and number of projects and extending the breadth of its service offerings. For new clients, it provides value added solutions by leveraging its in-depth industry expertise. It increases its recurring business with clients by providing software re-engineering, maintenance, infrastructure management and business process management services which are long-term in nature and require frequent client contact. Expand geographically: Infosys plans to establish new sales and marketing offices, representative offices and global development centers to expand its geographical reach. It plans to increase presence in

China through Infosys China, in the Czech Republic and Eastern Europe directly and through Infosys BPO, in Australia through Infosys Australia and in Latin America, through Infosys Mexico. Enhance solution set: Infosys focuses on emerging trends, new technologies, specific industries and pervasive business issues that confront our clients. In recent years, it has added new service offerings, such as consulting, business 26 process management, systems integration and infrastructure management, which are major contributors to its growth. Develop deep industry knowledge: Infosys has specialized industry expertise in the financial services, manufacturing, telecommunications, retail,transportation and logistics industries. Enhance brand visibility: Infosys invests in the development of its premium brand identity in the marketplace by participating in media and industry analyst events, sponsorship of and participation in targeted industry conferences, trade shows, recruiting efforts, community outreach programs and investor relations. Pursue alliances and strategic acquisitions: Infosys is known for its organic growth (risk averse) strategy though it has strategic alliance with leading technology providers take advantage of emerging technologies in a mutually beneficial and cost-competitive manner.

ANALYSIS OF STRATEGIES OF INFOSYS Corporate level strategies: Core Strategies: Global Delivery Model Producing where it is most cost effective to produce & selling where it is most profitable to sell. Moving up the Value Chain Getting involved in a software development project at the earliest stage of its life cycle. PSPD Model Predictability of Revenues, Sustainability of Revenues, Profitability, De-risking for risk management. Actions Taken: 1. To maintain low-cost advantage they have opened offices in Czech Republic, Mauritius, Poland, Philippines, Thailand and Mexico. 2. Invested in developing training centers - 3. Improved quality capabilities CMM level 5i company. 4. Infosys Consultancy established to provide high end services in value chain. 5. Has hedged currency for more predictability of revenues (risk management). Firm believer in Organic growth and acquire only those companies in line with strategic goals. Global Delivery Model Producing where it is most cost effective to produce & selling where it is most profitable to sell. Moving up the Value Chain Getting involved in a software development project at the earliest stage of its life cycle. PSPD Model Predictability of Revenues, Sustainability of Revenues, Profitability, De-risking for risk management. GENERIC STRATEGIES: 1. Low cost Global delivery 24/7 Model. 2. Little differentiation in low-end services of value chain; high differentiation in high end services of value chain like software products and package solutions. 3. Focus on quality, customer relationship management, timely-delivery.

GRAND STRATEGIES:
Ansoffs Matrix: Current Product New Product

Current Market Market Penetration Strategy Product Development Strategy

New Market Market Development Strategy Diversification Strategy

MARKET PENETRATION STRATEGY: Current Markets: USA and Europe Current Products: ADM, BPO, KPO, consultancy services (in BFSI, manufacturing and retail) and software products (financial products). Recommendation: As most large clients in US and Europe are cutting costs, Infosys needs to be more aggressive on cost and quality front. Result of strategy: Unlikely to yield good results MARKET DEVELOPMENT STRATEGY: New Market: India, Middle-east and Australia Current Product: ADM, BPO, KPO, consultancy services (in BFSI, manufacturing and retail) and software products (financial products). Recommendation: Since these are fast developing IT market, Infosys needs a paradigm shift in focus from US and EU markets to these markets. Result of strategy: Likely to yield good result. PRODUCT DEVELOPMENT STRATEGY: Current Market: USA and Europe New Product: Consultancy and package implementation services in relatively growing sectors esp. healthcare, life sciences and aviation sector, and KPO services. Recommendation: Concentrate on building expertise in these domains by strategic acquisitions. Result of Strategy: Likely to have good result. (better the company acquired, the better the result). DIVERSIFICATION: New Market: India, Middle-east and Australia New product: Consultancy and package implementation services in relatively growing sectors esp. healthcare, life sciences and aviation sector, and KPO services. Recommendation: Changing Brand image from low value service provider to high value service provider. Result of Strategy: Difficult to achieve overnight (possible in long term) OTHER STRATEGIES: CONCENTRATION: 90% of Infosys revenues from American and European nations. VERTICAL INTEGRATION: Infosys recently made a bid to acquire a European major Axon consultancy to improve its business in European markets, but finally called off the deal due to high valuation. Otherwise, Infosys has always believed in organic growth. INNOVATION: The Software Engineering and Technology Labs (SETLabs) at Infosys is the center for applied technology research in software engineering and enterprise technology. SETLabs conducted 24 Innovation Workshops with customers from the US and Australia, to identify research collaboration possibilities. Infosys promotes a favorable work environment that encourages innovation and meritocracy.

Infosys is a one of the most successful Global IT Company.

Reliance Strategy
At Reliance, we have made sustainable development a cornerstone of our business strategy to achieve sustainable and profitable growth. We adopted principle of materiality and prioritized key issues after collective deliberation by management and key stakeholders. These issues include; Energy Security, Health & Safety, CorporateGovernance and Transparency, Product Responsibility, Climate Change andWaste Management. Our sustainable development strategy draws on our proven technology and risk management framework and evolves from the materiality analysis that we have been performing over the years. The focus areas under our sustainability development strategy include the following:
Energy Security Growth through Innovation Health & Safety Environment Product Responsibility Social Institution Building

Energy Security

As a company involved in the energy and materials value chain, we are committed to responsible use of energy. Our systems and processes ensure optimum energy usage by continuous monitoring of all forms of energy and increasing the efficiency of operations. Our endeavour in exploration & production of oil & gas is to ensure energy availability for India, minimise dependence on imported crude oil and reduce exposure to vagaries of crude oil prices. Our contribution will increase Indias indigenous production of hydro carbons by over 40 percent in the next 18 months. Natural gas - a low-carbon, low polluting green fuel that will flow from our fields will create value and bebeneficial to a large section of our society.We are building transformational initiatives to promote use of alternative energy.
Growth through Innovation

We firmly believe that growth through innovation will give us a big competitive advantage and will be a key differentiator. Our goal is to make RIL one of the most innovative companies in the world and to achieve breakthrough growth in revenues and profits by creating and implementing sustainable solutions.We are developing an innovative ecosystem that builds on organisational systems and processes, talent management, open innovation andworld classR&Dfacilities. Health and Safety Safety overrides all production targets this vision drives us to continuously look for ways to achieve zero accident at workplace. Our vision is to develop a dedicated pool of safety

professionals and lead in safety performance across our operations by focusing on process safety and behavioural safety. Environment Protecting the environment and preserving natural resources is a high priority area. Through annual environment plan and business targets, we identify projects and take action to reduce water consumption and become carbon neutral and achieve maximum possible recycling and reuse of wastes. We set targets for key environment-related performance indicators such as material intensity, GHG emissions, air quality, water consumption, effluent discharge, waste generation and disposal, and conservation of bio-diversity. Product Responsibility For us, product responsibility is to offer efficient and reliable product and services with minimum environmental impact throughout the life cycle of the product fromthe cradle to the grave. Our product and services are designed, manufactured and delivered with principle consideration of customer safety. Social Institution Building Social welfare and community development is at the core of our Corporate Social Responsibility (CSR) philosophy. Our strategy is to have close and continuous interaction with the people and communities around our manufacturing divisions to bring qualitative changes and support the underprivileged. We contribute in the area of health, education, infrastructure development (drinking water, improving village infrastructure, construction of schools etc.), relief and assistance in the event of a natural disaster and other social initiatives. Our aim is to provide comprehensive health services covering preventive, promotive, curative and community health care services. Strategy Milestones Made significant investments in E&P of O&G to secure energy supplies Implemented systems to monitor and measure sustainability performance Introduced sustainability awareness programmes in the intranet Formed the Reliance Innovation Council Sustainability report assured by an independent assurance provider

Our short-term and long-term plans of achieving excellence in sustainability initiatives are as below:

Short-term plan
Form a sustainability council as an apex body to give impetus to our sustainability strategies Identify and develop measurable goals for sustainability performance indicators

Give a structured approach to our social initiatives Create a pan-RIL system for managing organisational knowledge assets with the objective of empowering every employee with connective organisation knowledge for delivering superior performance Create a sustainability portal for e-enabling data and information collection

Long term Plan

Embed life cycle and systems thinking in all business processes Reduce environmental footprint by deploying appropriate systems and technologies Move towards a low carbon business enterprise Strengthen the talent pool to cater to our diverse and integrated nature of business Create a triple bottom-line accounting system