Critically Evaluate the Vision and/or Mission of Your Organisation and Comment on Its Relevance Given the Prevailing Economic Situation and Make Recommendations.

1450 WordsMar 4, 20106 Pages
"Vision without action is a daydream. Action without vision is a nightmare." – Japanese proverb Introduction According to Viewpoint, a vision is a statement giving a broad, aspirational image of the future that an organization is aiming to achieve. It outlines what the organization wants to be, or how it wants the world in which it operates to be. A vision concentrates on the future and it is a source of inspiration that provides clear decision-making criteria. It may also create a sense of direction and opportunity to managers and other stakeholders. For a vision to inspire managers and other stakeholders, it should be achievable, and it should answer the question, what do we want to become? This paper seeks to evaluate the vision…show more content…
According to the foreword by DR G Gono, the Reserve Bank of Zimbabwe Governor commenting on the supervisory action taken in terms of the troubled bank resolution framework, ……… “ The creation of ZABG represents the single major supervisory action taken ever by the Reserve Bank, with the main objective of being the protection of depositors’ funds and restoring stability and confidence in the financial sector…………………..’’ The statement by the Governor reflects that it is not the responsibility of an individual bank to restore confidence in the sector. Having said that, it is therefore evident that ZABG’s quest to restore confidence in the financial services sector is not achievable. Since the vision articulated where the bank envisaged to become in the future, it worth noting that the question, what do we want to become, was well taken care of and was answered. Relevance of the vision In the current prevailing economic conditions that is characterised by low liquidity levels where the Central Bank has no control over the velocity of money, it becomes almost impossible that one of the players dream of building confidence in the market. Currently, the Reserve Bank cannot even perform one of its key functions that of lender of last resort. ZABG’s vision to build confidence in the sector is not relevant because it is not the responsibility of an individual bank to perform that function but for all the players in the industry.

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