1.1. What is a vision statement?

The vision statement for Majestica Hotel in Shanghai is its strategic plan for the future – it defines what and where Majestica Hotel in Shanghai Company wants to be in the future. The vision statement for Majestica Hotel in Shanghai is a document identifying the goals of Majestica Hotel in Shanghai to facilitate its strategic, managerial, as well as general decision making processes.

1.2. Components of the vision statement

1.2.1. Concise

The vision statement of Majestica Hotel in Shanghai is brief and to the point. This means that the company has not used long dialects and dialogues to delivers its opinion ad stance to the public and relevant stakeholders. The vision statement should be brief and comprehensive – it should communicate the essence of the business, and its future plans to help the stakeholders understand its business philosophy and business strategy.

1.2.2. Encompassing description

The vision statement of Majestica Hotel in Shanghai should be brief but should be holistic in nature. This means that the visions statement should be complete in its description and information of what the company desires, and how it plans to achieve its long term goals strategically. The vision statement should be a comprehensive statement identifying the company’s core strengths, which would enable it to achieve its futuristic goals.

1.3. How to develop a vision statement

The company should identify the following t be able to guide its business decisions towards future success and progress to be able to develop a successful vision statement:

1.3.1. Look at the organizational history

• When did Majestica Hotel in Shanghai start the business?
• How many employees did the company have during the beginning?
• The significant milestones that Majestica Hotel in Shanghai has achieved since being started, and when were these milestones achieved?
• Include all positive and negative milestones that Majestica Hotel in Shanghai has faced, and how it overcame them?
• What does Majestica Hotel in Shanghai enjoy the most about its business and why?

These questions will help the management and key decision makers at Majestica Hotel in Shanghai to critically assess the history and the various decisions that were made for Majestica Hotel in Shanghai and the business. These will be critically reviewed for the positive o the negative consequences they brought, and how that influenced the general business direction or Majestica Hotel in Shanghai to have it stand in its present position.

1.3.2. Look at the present

• What is the business landscape for Majestica Hotel in Shanghai currently?
• How many employees does the business have currently?
• What is the unique value proposition offered by Majestica Hotel in Shanghai
• What are the strengths, weaknesses, opportunities and threats being faced by Majestica Hotel in Shanghai in the present?
• What is the financial strength of the company in the present?

These questions will help strategic managers and decision-makers identify the need of the business to progress, as well as identify the resources needed for advancement. In addition, these questions will also help Majestica Hotel in Shanghai in deciding the future direction it wants to take on, and how to achieve and realize that direction. Lastly, assessment of present standing for Majestica Hotel in Shanghai will help the business identify how it can improve the business with potential changes.

1.3.3. Look at the future of the organization

• What are the long term goals for Majestica Hotel in Shanghai?
• What are the short term goals for Majestica Hotel in Shanghai?
• How can the company improve its offerings?
• Which processes and ideas can be implemented to help the business gain higher effectivity and efficiency?
• What is the potential for growth for Majestica Hotel in Shanghai?
• What are the secondary goals of the business?

These questions will allow managers and decision makers for Majestica Hotel in Shanghai to clearly think about where they want the business to be in the future, and how this future and its goals can be achieved and realized.

1.3.4. Identify loopholes

The process of critically assessing the past, present and future of Majestica Hotel in Shanghai is important for vision building because:

• It allows identification of gaps and loopholes between the present an the future
• It directs Majestica Hotel in Shanghai towards filling those loopholes through correct resource allocation
• It helps idea generation for enhancing business performance
• It allows strategic decision making for fueling business growth

1.4. How to implement a vision statement

1.4.1. Gathering for a meeting and idea generation

• Majestica Hotel in Shanghai should gather all employees from different managerial levels in groups
• These groups should work towards generating ideas based on what the organization stands for, and what it offers
• The idea generation should be based on the employee's perception
• The ideas should also involve where the progression of the company should be focused on
• In addition, the employees should also focus their ideas on foreseeing a potential future for Majestica Hotel in Shanghai

1.4.2. Grouping similar ideas and developing drafts

• Similar ideas should be grouped
• Senior level employees should develop and compare descriptions for grouped ideas
• The grouped ideas should be categorized according to themes
• The thematic groupings should be prioritized with the organizational offerings and values
• Draft vision statements should be created based on high priority groups of ideas and descriptions

1.4.3. Evaluating the vision statement

• Visions statements should be evaluated on their criteria of matching with the organizational offering and potential
• The vision stamen should also reflect the work environment and business potential of Majestica Hotel in Shanghai
• The vision statement should be in line with the values of Majestica Hotel in Shanghai

1.4.4. Communication of vision statement

• The visions statement should be communicated to all relevant stakeholders of Majestica Hotel in Shanghai
• The visions statement should be incorporated in the annual statement
• The visions statement for Majestica Hotel in Shanghai should also be updated, and transparently be drafted within the organization
• The visions statement should be sued to guide the drafting of the mission statement

2. The mission statement of Majestica Hotel in Shanghai

2.1. What is a mission statement?

The mission statement for Majestica Hotel in Shanghai is a public document that details the values and strategic aims of Majestica Hotel in Shanghai. The mission statement of Majestica Hotel in Shanghai also identifies the purpose of the organization existence, highlighting the services and the products it offers. Further, the mission statement also identifies the organization’s operational goals for Majestica Hotel in Shanghai, the processes the company uses to achieve those, the target customer groups, and the region where the company operates.

2.2. Components of a mission statement

2.2.1. Customer satisfaction

The mission statement of Majestica Hotel in Shanghai focuses on addressing issues of customer satisfaction. The mission statement of Majestica Hotel in Shanghai has identified its target customer groups, and also identified their needs and demands. The mission statement reflects on how its products and services work towards increasing customer satisfaction for its target customers.

2.2.2. Based on core competencies

The mission statement of Majestica Hotel in Shanghai is based on its integral strengths and competencies. This is important for Majestica Hotel in Shanghai as the mission statement will highlight the different systems and processes as well as strategic tactics that the company uses to achieve its organizational and strategic goals. The achievement of the goals will depend on how well Majestica Hotel in Shanghai makes use of its core competencies.

2.2.3. Realistic and clear

The mission statement for Majestica Hotel in Shanghai is also realistic and clear. This means that Majestica Hotel in Shanghai has used simple, string, and easily understood words and phrases in the drafting of its mission statement. Clarity is important so that the mission statement is understood by all relevant stakeholders of Majestica Hotel in Shanghai Company. Majestica Hotel in Shanghai’s mission statement is also realistic, which makes it able to achieve various set goals and targets.

2.2.4. Motivational and inspirational

The mission statement of Majestica Hotel in Shanghai is motivational in that it works towards inspiring the employees and the workforce towards giving their optimal best performance towards the goal achievement of Majestica Hotel in Shanghai. The mission statement of Majestica Hotel in Shanghai is also inspirational in that it develops the need for growth and progress in individuals – for the betterment of not only the company but also for their own selves.

2.2.5. Specific and sharp

The mission statement of Majestica Hotel in Shanghai is precise and to the point. It is easy to understand and delivers what the audience must know about Majestica Hotel in Shanghai’s offerings and operations. It is important to keep the missions statement short, sharp and precise to be able to successfully communicate the company’s standing to stakeholders, instead of dragging it on into long pages with repetition and non-important aspects.

2.2.6. Reflects the company’s offerings

The mission statement of a company should be based on what the company has to offer in terms of products and services. This means that the mission statement for Majestica Hotel in Shanghai highlights its offerings, but ensures that this offering is in line with the values that the company stands for. The mission statement for Majestica Hotel in Shanghai, therefore, identifies the ethical grounds through which the company systematically works to deliver its offering.

2.3. How to develop a mission statement

It is important to follow the following steps and answer the following questions to be able to develop successful mission statements:

2.3.1. What does Majestica Hotel in Shanghai do?

• Define the purpose of Majestica Hotel in Shanghai
• Define its brief history
• Define the need for existence for Majestica Hotel in Shanghai

2.3.2. How does Majestica Hotel in Shanghai manage to achieve its promised offering?

• Explain the systems and operations employed at Majestica Hotel in Shanghai
• Identify relevant ethical policies in place at Majestica Hotel in Shanghai
• Highlight the use of transparency at Majestica Hotel in Shanghai in all matters
• Define the processes that Majestica Hotel in Shanghai uses to deliver its promised offering to target customer groups

2.3.3. For whom does Majestica Hotel in Shanghai produce offerings?

• Define target market customers for Majestica Hotel in Shanghai
• Target market customers from different regions can also be defined
• Majestica Hotel in Shanghai can also explore secondary target market groups, and define them in the mission statement

2.3.4. What value is Majestica Hotel in Shanghai adding on?

• Define the value additions being brought forward by Majestica Hotel in Shanghai in the customer’s life
• Define the purpose of the offerings being delivered by Majestica Hotel in Shanghai
• Highlight the importance of Majestica Hotel in Shanghai in the lives of its customers

2.4. How to implement the mission statement

2.4.1. Communication

• Majestica Hotel in Shanghai should communicate the mission statement to all stakeholders – employees, customers, shareholders, public, government etc.
• Majestica Hotel in Shanghai should also keep the mission statement transparent and accessible at all times

2.4.2. Training

• Majestica Hotel in Shanghai should encourage its employee force to undergo training if need be to meet the requirements of the mission statement
• Majestica Hotel in Shanghai should regularly hold workshops to refine the values being defined in the mission statement and build them in its employee force

2.4.3. Goal setting

• Majestica Hotel in Shanghai should develop SMART goals to meet the strategic targets identified in the mission statement
• Majestica Hotel in Shanghai should also develop ethical grounds to remain in line with the mission statement
• Majestica Hotel in Shanghai should keep goals flexible, but the means to achieve the goals should be stringent and should reflect the values drafted in the mission statement

3. Goals of Majestica Hotel in Shanghai

3.1. What are organizational goals

Organizational goals are those business and strategic objectives that define the purpose of Majestica Hotel in Shanghai. Organizational goals are strategic targets that Majestica Hotel in Shanghai wants to achieve over a period of time. This time period is generally long term. The goals of Majestica Hotel in Shanghai help direct its employee behaviour, as well as help in directing the operations of the business in the short term.

3.2. Components of goal

3.2.1. Achievable

The goals set by Majestica Hotel in Shanghai should be achievable. This means that Majestica Hotel in Shanghai should have the resources and the finances necessary for being able to realize the organizational goals over the long haul. Majestica Hotel in Shanghai should also have the strategic leadership to be able to achieve these organizational goals.

3.2.2. Time-frame defined

All goals set by Majestica Hotel in Shanghai- even for the long term – have an attached time frame. This is important to ensure that the organization is effective and efficient in realizing its goals.an attached time frame for the goals set for the long term future also helps in establishing a related time frame for the more short term organizational objectives.

3.2.3. Easy to understand

The goals should be fairly simple and should be easily understood by all employees of Majestica Hotel in Shanghai. This is important as only when employees are clear about what the goals are, their importance, and the urgency of achieving them will they be able to relate with them and work towards achieving them.

3.2.4. Easy to communicate

The goals set by Majestica Hotel in Shanghai should also be easy to communicate. This means that the jargon used for goal setting and goal communication should be clear and precise. These goals should be communicated with all managerial levels, and all employees to allow them a directive path to help the organization achieve these goals.

3.2.5. Pragmatic

The goals set by Majestica Hotel in Shanghai should also be realistic in nature. This means that all strategic goals defined by Majestica Hotel in Shanghai should take into consideration not only its internal financial position and resources but also the skill set of its employees and the larger macro environment. This will enable the company to set goals that will sue the core competencies of Majestica Hotel in Shanghai to help it achieve the strategic goals easily, and realistically.

3.2.6. Relation with job tasks

All goals should be relatable with the employees of Majestica Hotel in Shanghai. This means that all goals should directly or indirectly be tied to the job tasks and job nature of employees. This is to ensure that employees don’t feel redundant and use their skills to help the organization progress.

3.3. How to develop goals

3.3.1. Strategic evaluation

• Assess and review the vision statement
• Based on the vision statement and company values, decide where Majestica Hotel in Shanghai should be in the next five years

3.3.2. Brainstorming

• Brainstorm goals that will help Majestica Hotel in Shanghai achieve its long term direction
• Group goals according to themes
• Cluster the goals, and briefly describe each group and cluster
• Set long term goals for the company according to different clusters and groups

3.3.3. Prioritization

• Prioritize different clusters and groups
• Set and define long term goals based on prioritization
• Prioritization should be based on how soon the different defined goal groups and clusters will help Majestica Hotel in Shanghai progress and achieve its desired position in the next five years or so to develop a successful vision statement

3.4. How to implement goals

3.4.1. Communication

• Communicate the goals to all managerial levels
• Goals should also be communicated to all relevant stakeholders – including distributors, shareholders, third-party contractors etc.
• Goals may also be communicated to customers
• Communication of goals will help Majestica Hotel in Shanghai achieve goals by defining roles and milestones needed for achievement

3.4.2. Periodic strategic evaluation

• Evaluate the progress of goal attainment periodically
• This evaluation is done at a strategic level and operational level
• Different goals should be set for different departments of Majestica Hotel in Shanghai to help it achieve the broader long term goals
• These departmental goals help in directing operations towards the larger strategic goal attainment

3.4.3. Training

• Employee training to develop skills needed and necessary for goal attainment
• Training can be in-house or out-house for employees
• Training for Majestica Hotel in Shanghai should be continual and should be consistent with the goals set

4. Objectives of Majestica Hotel in Shanghai

4.1. What are organizational objectives

Organizational objectives for Majestica Hotel in Shanghai are the short to medium term targets and goals that the organization sets to achieve the bigger strategic goals set for the long term. The organizational objectives are important in shaping resource allocation within Majestica Hotel in Shanghai as well as in determining the policies, schedules and processes that are implemented in Majestica Hotel in Shanghai.

4.2. Components of objectives

4.2.1. Specific

All objectives set by Majestica Hotel in Shanghai are specific and clear. This helps employees, as well as managers, manage and maintain focus on the targets and the end results that need to be achieved. At the same time, specific objectives help managers determine skill development and training needs within their departments as well.

4.2.2. Measurable

Objectives at Majestica Hotel in Shanghai are also measurable. This means that all objectives can be tracked for progress. This is important for Majestica Hotel in Shanghai as it helps in meeting deadlines. The element of measurability is added in objectives by adding quantifiable criteria for determining progress and objective achievement.

4.2.3. Attainable

The goal should be attainable that even in stretching the abilities of the employees and challenging them, it should remain possible to achieve. The objectives at Majestica Hotel in Shanghai are attainable in that they push the employees out of their comfort zones but remain possible to achieve.

4.2.4. Realistic

Objectives at Majestica Hotel in Shanghai are also attainable in that they are realistic. This means that Majestica Hotel in Shanghai sets objectives keeping in view the organizational resources and constraints to be able to achieve objectives effectively and within time.

4.2.5. Timely

Objectives at Majestica Hotel in Shanghai are also time-bound in that they have a specified start and finish date. The timeliness of the objective helps Majestica Hotel in Shanghai maintain a sense of urgency in employees, and keep them motivated towards achieving the objective.

4.3. How to develop objectives

4.3.1. Focus on overall strategy

• Objectives should focus on the broader organizational strategy
• This will facilitate the organization in keeping in view the broader purpose and at the same time work towards achieving quantifiable goals and objectives
• By keeping in view strategic focus, Majestica Hotel in Shanghai also maintains proximity with the vision of the organization and works towards enhancing the performance of the organization

4.3.2. Focus on goal

• Objectives at Majestica Hotel in Shanghai should be set keeping in view the set organizational goals
• Objectives at Majestica Hotel in Shanghai should flow from the organizational goals, and work towards helping the company and its departments and operations achieving the set goals
• This is important as it keeps objectives strategically relevant to the organizational processes and systems

4.3.3. Focus on the time frame and skill sets available

• Objectives at Majestica Hotel in Shanghai should focus on the time constraints present in terms of resource present, as well as the urgency of the organization and the industry
• Objectives at Majestica Hotel in Shanghai should also focus on the skillset of employee and organizational resources available
• Focus on resources and skills is important to ensure that all objectives are attainable
• Focus and relevance with resources and skills will also help Majestica Hotel in Shanghai identify gaps that it needs to fill through training

4.4. How to implement objectives

4.4.1. Communication

• Objectives at Majestica Hotel in Shanghai should be discussed with employees mutually
• Purpose of the set objectives should be clearly discussed, and communicated with the employees
• This discussion should entail not only the objective, but also the time period within which it is expected to be completed, and the processes and means to achieve it
• Objectives should also include aspects of personal and individual growth and development of employees to make sure that employees remain motivated throughout

4.4.2. Performance appraisal

• The performance appraisal at Majestica Hotel in Shanghai helps managers and supervisors keep track of objective achievement and employee performance
• The performance appraisal also helps keep the objectives time bound through regular reviews and discussions
• The performance appraisal also helps identify skills development aspects that employees need and helps the managers develop suitable and needful strategic training programs for skill development and skill improvement