Mission Statement: Mission statement is a statement which is used to describe why the organization exists and to explain what the company does to achieve the vision. The mission of a company is the one which changes as the organization develops. An example of such a statement is that of Wipro, which reads, ‘Our mission is to be a RF System Solution Provider, through its innovative research and design works for a new world of broadband wireless communications’ (Wipro Techno, 2010). The statement of company highlights its working towards the vision that has been set down by the company.
Vision: The vision of a company can be defined as the intended future that the company aims at reaching. This is a long term view and is the basis for all the planning of the organization. An excellent example of this is the vision of Wipro which reads, ‘Contribute for global e-society, where a wide range of information is being exchanged beyond time and space over global networks, which breaks down the boundaries among countries, regions and cultures, allowing individuals to take part in various social activities in an impartial, secure way. Continous effort to enhance people’s lifestyle and quality by means of developing new technology in wireless communication’ (Wipro Techno, 2010).
Core Competencies: The core competencies of an organization are the basic knowledge, abilities and skills that a company possess. This helps in classifying the organizations and to learn what the organization is best at doing. For the example of Wipro, as explained by the President and COO for Wipro Infocrossing, Sameer Kishore, ‘IT infrastructure management is our core competency and we will bring a well-proven data center transition and managed services methodology to help CSG meet its goals’ (Wipro Corporate, 2010).
Strategic Approach: The strategic approach used by Wipro is one which is goal