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Every corporation must develop its strategy. Otherwise it is impossible neither to run the business nor to measure the company’s performance.
A vision of the corporation is a statement that describes what it will become once its goals, targets, strategies, and actions are realized.
A mission of the company answers the question “What business are we in?”
Strategic plan is usually developed for several years. It sets the long-term objectives and can be adjusted in accordance with changes of company policy.
The goals are the main aims and principal objectives of the corporation.
Operating principles listed in the strategic plan represent the work ethics and principles the company holds valuable.
All employees should consider these principles when making decisions and conducting corporate business.
Words and phrases:
actions – мероприятия
adjust – корректировать, редактировать
conduct corporate business –управлять корпоративным (объединенным) предприятием
goals – цели (требуемые показатели)
long-term objectives – долгосрочные задачи, цели
main aims – основные идеи
measure the company performance – измерять (оценивать) результаты работы компании (по каким-либо критериям)
mission – миссия компании
once – (здесь – если, при условии что)
operating principles – принципы работы
targets – задания (намеченные цифры)
vision – видение компании
work ethics – рабочая этика, «моральный кодекс» компании
5.1 Answer the questions to the text:
1. What the company strategy is developed for?
2. What is the vision of the company?
3. What is the mission of the company?
4. For what term is the strategic plan usually developed?
5. Can the strategic plan be adjusted in accordance with company policy changes?
6. What are the company goals?
7. What do the operating principles listed in the plan represent?
8. Is it obligatory for the employees to obey these principles?
5.2 Below there is a vision of the ‘MH’ Corporation. Read it and translate it into Russian:
‘To be recognized as the best utility in North America with respect to safety, rates, reliability, and customer satisfaction, and to be considerate of all people with whom we have contact.’
5.3 Read the mission of the same company. Translate it into Russian:
‘To provide for the continuance of a supply of energy adequate for the needs of the province and to promote economy and efficiency in the development, generation, transmission, distribution, supply, and end-use of energy. Provide and market energy and related products and services, within and outside the province.’
5.4 Look through the ‘MH’ s goals. Which of them can be relevant for any company?
- Continuously improve safety in the work environment
- Provide the customer with exceptional value (rates, reliability, service, and power quality)
- Increase export power net revenues
- Have highly skilled, effective, innovative employees
- Be a recognized leader in protecting the environment
- Support business development in the province
5.5 Below there are ‘NM’s operating goals. Read them attentively:
- Work together for the success of the organization as a whole, recognizing that all our activities are interrelated.
- Establish long-term cooperative relationships with all employees, customers, suppliers, and other stakeholders, aimed at achieving our shared Vision.
- Create a working environment which removes barriers to effective performance and which fosters mutual respect, trust, and open communication.
- Provide opportunities for all employees to develop their full potential, recognizing people’s inherent desire to do their best.
- Measure outcomes, develop an understanding of the causes of variation from planned performance, and take appropriate action.
- Practice continuous improvements through ongoing coaching, learning, and innovation, focused on the needs and wants of internal and external customers.
5.6 Find the English equivalents for the following Russian words and phrases:
совместно работать для успеха организации как единого целого, вся наша деятельность (все наши экономические показатели) взаимосвязана(ы), заинтересованные стороны (круги), служащие, клиенты, поставщики, рабочая обстановка, устранять препятствия к эффективной работе, стимулировать взаимоуважение, открытое общение, развивать свой потенциал, признавать изначальное желание людей быть лучшими, оценивать результаты, постоянное обучение, инновации (нововведения), сосредоточиваться на потребностях заказчиков.
5.7 In the text above find the verbs in Passive Voice. Pattern: are realized – Present Simple Passive (plural)
5.8 Recollect the conjunctions neither … nor, either… or, both… and…. Find the example in the text and compose your own sentences with these words.
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