Organizational Vision, Mission, Goals and Objectives

LEADERSHIP FUNNELEvery SACCO should have a clear statement of its vision, mission, goals and objectives in order for all those involved in its management/ operations to have a clear sense of destiny, and for the Management Committee/Board of directors to guide or direct management in that direction.
 Vision- This is the ultimate aspiration of the SACCO as an institution and its members. The institutional vision expresses the dreams of the SACCO as an institution and its members in the long run. An example of SACCO vision may run as follows “ a rich and prosperous membership served by a profitable and sustainable SACCO”
 Mission Statement – this is a brief statement that indicates the purpose for which the SACCO was formed, it indicates the direction to which the SACCO is intended to move, and the clientele it aims to serve. It seeks to answer the following questions:
1) What business is the SACCO in?
2) What business does the SACCO want to be in?
3) What do we intend to achieve?
4) Who are our clients and stakeholders?
Examples of mission statements could be:
“We aim to excel in meeting the savings and credit service needs of the community through provision of safe and secure saving deposit services as well as affordable and easily accessible credit facilities”
“Through provision of high quality financial services, intend to help our membership excel and thereby maintain a leading position in the local market;”
 Goals – these are medium and long-term aspirations that the SACCO wants to achieve, based on its mission statement and driven by its vision. Examples of a goal statement may run as follows “Maximize savings and credit services to members while maintaining a healthy portfolio during the next 6 years” or “Attaining and maintaining a leading market position by way of clients served and gross loan portfolio in four years’ time”
 Objectives are specific quantified targets that the SACCO has set to be achieved in a short-term period, which will move it in the direction of achieving its goals. Examples SACCO objectives may include the following:
– To increase savings by 20% per annum over the next five years
– To increase credit services to members by 20% by the end of the year
– To increase income and net profits by 15% per year, etc.
– To increase the number of members from 80 to 200 by the end of next year
– To serve 2,000 borrowers and 6,000 savers, with a loan portfolio of Ksh. 1.2 Million in two years’ time.
– Increase the savings deposits by 200% in the next five years
– To improve the gross income by 155% and net income by 215% in seven years
One goal may have one or more objectives, which are in a sense the more specific targets contributing to the attainment of the goals.

ADAPTED FOR THIS BLOG FROM: RWANDA COOPERATIVES AGENCY (RCA) MODULE ONE: ORGANISATION AND MANAGEMENT OF THE UMURENGE SACCOS

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