Mission, Vision, Goals and Objectives of Taj Hotel Group (2024)

1.1. What is a vision statement?

The vision statement for Taj Hotel Group is its strategic plan for the future – it defines what and where Taj Hotel GroupCompany wants to be in the future. The vision statement for Taj Hotel Group is a document identifying the goals ofTaj Hotel Group 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 Taj Hotel Group is brief and to the point. This means that the company has not used longdialects and dialogues to delivers its opinion ad stance to the public and relevant stakeholders. The visionstatement should be brief and comprehensive – it should communicate the essence of the business, and its futureplans to help the stakeholders understand its business philosophy and business strategy.

1.2.2. Encompassing description

The vision statement of Taj Hotel Group should be brief but should be holistic in nature. This means that the visionsstatement should be complete in its description and information of what the company desires, and how it plans toachieve its long term goals strategically. The vision statement should be a comprehensive statement identifyingthe 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 andprogress to be able to develop a successful vision statement:

1.3.1. Look at the organizational history

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

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

1.3.2. Look at the present

• What is the business landscape for Taj Hotel Group currently?
• How many employees does the business have currently?
• What is the unique value proposition offered by Taj Hotel Group
• What are the strengths, weaknesses, opportunities and threats being faced by Taj Hotel Group 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 Taj Hotel Groupin deciding the future direction it wants to take on, and how to achieve and realize that direction. Lastly,assessment of present standing for Taj Hotel Group will help the business identify how it can improve the business withpotential changes.

1.3.3. Look at the future of the organization

• What are the long term goals for Taj Hotel Group?
• What are the short term goals for Taj Hotel Group?
• 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 Taj Hotel Group?
• What are the secondary goals of the business?

These questions will allow managers and decision makers for Taj Hotel Group to clearly think about where they want thebusiness 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 Taj Hotel Group is important for vision buildingbecause:

• It allows identification of gaps and loopholes between the present an the future
• It directs Taj Hotel Group 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

• Taj Hotel Group 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 itoffers
• 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 Taj Hotel Group

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 andpotential
• The vision stamen should also reflect the work environment and business potential of Taj Hotel Group
• The vision statement should be in line with the values of Taj Hotel Group

1.4.4. Communication of vision statement

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

2. The mission statement of Taj Hotel Group

2.1. What is a mission statement?

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

2.2. Components of a mission statement

2.2.1. Customer satisfaction

The mission statement of Taj Hotel Group focuses on addressing issues of customer satisfaction. The mission statementof Taj Hotel Group has identified its target customer groups, and also identified their needs and demands. The missionstatement reflects on how its products and services work towards increasing customer satisfaction for its targetcustomers.

2.2.2. Based on core competencies

The mission statement of Taj Hotel Group is based on its integral strengths and competencies. This is important forTaj Hotel Group as the mission statement will highlight the different systems and processes as well as strategictactics that the company uses to achieve its organizational and strategic goals. The achievement of the goals willdepend on how well Taj Hotel Group makes use of its core competencies.

2.2.3. Realistic and clear

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

2.2.4. Motivational and inspirational

The mission statement of Taj Hotel Group is motivational in that it works towards inspiring the employees and theworkforce towards giving their optimal best performance towards the goal achievement of Taj Hotel Group. The missionstatement of Taj Hotel Group 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 Taj Hotel Group is precise and to the point. It is easy to understand and delivers what theaudience must know about Taj Hotel Group’s offerings and operations. It is important to keep the missions statementshort, sharp and precise to be able to successfully communicate the company’s standing to stakeholders, instead ofdragging 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 andservices. This means that the mission statement for Taj Hotel Group highlights its offerings, but ensures that thisoffering is in line with the values that the company stands for. The mission statement for Taj Hotel Group, 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 successfulmission statements:

2.3.1. What does Taj Hotel Group do?

• Define the purpose of Taj Hotel Group
• Define its brief history
• Define the need for existence for Taj Hotel Group

2.3.2. How does Taj Hotel Group manage to achieve its promised offering?

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

2.3.3. For whom does Taj Hotel Group produce offerings?

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

2.3.4. What value is Taj Hotel Group adding on?

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

2.4. How to implement the mission statement

2.4.1. Communication

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

2.4.2. Training

• Taj Hotel Group should encourage its employee force to undergo training if need be to meet the requirements of themission statement
• Taj Hotel Group should regularly hold workshops to refine the values being defined in the mission statement andbuild them in its employee force

2.4.3. Goal setting

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

3. Goals of Taj Hotel Group

3.1. What are organizational goals

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

3.2. Components of goal

3.2.1. Achievable

The goals set by Taj Hotel Group should be achievable. This means that Taj Hotel Group should have the resources and thefinances necessary for being able to realize the organizational goals over the long haul. Taj Hotel Group should alsohave the strategic leadership to be able to achieve these organizational goals.

3.2.2. Time-frame defined

All goals set by Taj Hotel Group- even for the long term – have an attached time frame. This is important to ensurethat the organization is effective and efficient in realizing its goals.an attached time frame for the goals setfor the long term future also helps in establishing a related time frame for the more short term organizationalobjectives.

3.2.3. Easy to understand

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

3.2.4. Easy to communicate

The goals set by Taj Hotel Group should also be easy to communicate. This means that the jargon used for goal settingand 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 Taj Hotel Group should also be realistic in nature. This means that all strategic goals defined byTaj Hotel Group should take into consideration not only its internal financial position and resources but also theskill set of its employees and the larger macro environment. This will enable the company to set goals that willsue the core competencies of Taj Hotel Group 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 Taj Hotel Group. This means that all goals should directly orindirectly be tied to the job tasks and job nature of employees. This is to ensure that employees don’t feelredundant 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 Taj Hotel Group should be in the next five years

3.3.2. Brainstorming

• Brainstorm goals that will help Taj Hotel Group 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 Taj Hotel Groupprogress 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 Taj Hotel Group achieve goals by defining roles and milestones needed forachievement

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 Taj Hotel Group to help it achieve the broader long termgoals
• 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 Taj Hotel Group should be continual and should be consistent with the goals set

4. Objectives of Taj Hotel Group

4.1. What are organizational objectives

Organizational objectives for Taj Hotel Group are the short to medium term targets and goals that the organizationsets to achieve the bigger strategic goals set for the long term. The organizational objectives are important inshaping resource allocation within Taj Hotel Group as well as in determining the policies, schedules and processes thatare implemented in Taj Hotel Group.

4.2. Components of objectives

4.2.1. Specific

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

4.2.2. Measurable

Objectives at Taj Hotel Group are also measurable. This means that all objectives can be tracked for progress. This isimportant for Taj Hotel Group as it helps in meeting deadlines. The element of measurability is added in objectives byadding 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, itshould remain possible to achieve. The objectives at Taj Hotel Group are attainable in that they push the employees outof their comfort zones but remain possible to achieve.

4.2.4. Realistic

Objectives at Taj Hotel Group are also attainable in that they are realistic. This means that Taj Hotel Group setsobjectives keeping in view the organizational resources and constraints to be able to achieve objectiveseffectively and within time.

4.2.5. Timely

Objectives at Taj Hotel Group are also time-bound in that they have a specified start and finish date. The timelinessof the objective helps Taj Hotel Group maintain a sense of urgency in employees, and keep them motivated towardsachieving 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 towardsachieving quantifiable goals and objectives
• By keeping in view strategic focus, Taj Hotel Group also maintains proximity with the vision of the organizationand works towards enhancing the performance of the organization

4.3.2. Focus on goal

• Objectives at Taj Hotel Group should be set keeping in view the set organizational goals
• Objectives at Taj Hotel Group should flow from the organizational goals, and work towards helping the company andits 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 Taj Hotel Group should focus on the time constraints present in terms of resource present, as well asthe urgency of the organization and the industry
• Objectives at Taj Hotel Group 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 Taj Hotel Group identify gaps that it needs to fillthrough training

4.4. How to implement objectives

4.4.1. Communication

• Objectives at Taj Hotel Group 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 tobe completed, and the processes and means to achieve it
• Objectives should also include aspects of personal and individual growth and development of employees to makesure that employees remain motivated throughout

4.4.2. Performance appraisal

• The performance appraisal at Taj Hotel Group helps managers and supervisors keep track of objective achievement andemployee 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 themanagers develop suitable and needful strategic training programs for skill development and skill improvement