Developing of Vision, Mission, and values

Developing of Vision, Mission, and values

Introduction

This chapter is about developing the mission, vision, and values of an organization. The organizations essential planning part is clearly stated in the organization’s mission and vision. The mission and vision communicate the importance and purpose of an organization (Morden, 2016, Pg 91). The best mission and vision incite the emotions of the employee and the customer. The mission statement answers the questions; Who are we? What things does our organization value? The vision statement answers the question where is this organization going?

Mission Statement

The mission statement shows the current position of an organization while the vision statement shows the future endeavours of the company. A mission statement is a statement of purpose, describing who the company is and what it does. The vision statement on the hand is future-oriented. It declares the organization’s purpose and aspirations.  He values are the shared principles, standards and goals. An example of a mission statement is that of an outdoor clothing company Patagonia. The company’s mission statement states, ’To build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.”

A survey conducted by consulting firm Bain and Company in 2011, shows that the companies which had strong mission statements were more successful than the companies with a weak mission statement (Morden, 2016 Pg 92). The study also showed that the firms whose mission and vision statement was communicated, widely understood, and collectively shared toped in the performance. The top-performing firms also had strategies, goals, and objectives aligned with the mission and vision statement.

The primary purpose of a mission statement is to communicate to people why an organization exists.

The mission statement also indicates how the organization aims at serving its key stakeholders. The key stakeholders that are usually emphasised on by the organization are; customers, employees, and investors. Other stakeholders, like the government or communities, may also be discussed in the mission statement. A mission statement may also include a summary of the organization’s values. Values stand for the beliefs an individual or organization has. In the case of an organization, the organizational value refers to the amount where members are emotionally connected.

Vision Statement

Contrary to the mission statement, vision statements future-oriented. A vision statement is a declaration of the organization’s future purpose and aspirations (Morden, 2016, Pg 94).  The mission statement outlines the organization’s current ”purpose of being” while the vision statement describes the purpose based on ” what we may one day become.’ The firm’s strategies should be in line with its mission and vision statement. Policies are intended to achieve the vision of the organization and satisfy the mission of the organization.

The length of vision statements differs from organization to organization. Some of the vision statements are relatively short like Wal-Mart’s vision statement of ”Save money. Live better. They can also be lengthy like the Amazon. Com which states, ”Our vision is to be earth’s most customer-centric company; to build a place where people can come f to find and discover anything they might want to buy online.” (Morden, 2016 Pg 962). The Starbucks vision statement also lengthy. It states, ‘’Establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles as we grow.’’

Practically, from the Starbucks mission statement; we can get six guiding principles which also communicate the organization’s values as listed below;

1. Provide a great work environment and treat each other with respect and dignity.
2. Embrace diversity as an essential component in the way we do business.
3. Apply the highest standards of excellence to the purchasing, roasting, and fresh delivery of our coffee.
4. Develop enthusiastically satisfied customers all of the time.
5. Contribute positively to our community and our environment.
6. Recognize that profitability is essential to our future success.

Comparison Between Mission and vision

The vision describes what a company would like to be in future (Morden, 2016 Pg 95).  On the other hand, the mission is about the past and present.  A purpose gives an outline of why the organization exists. It also explains the role it plays in society.  A well-formulated mission statement captures the identity of any organization. The mission statement answers the fundamental question of ”who are we?”

Practically, the mission statement explains to key stakeholder why they should support the organization. Examples of a good mission statement that connects the organization and the needs of the stakeholder include; Harley Davidson mission statement states, ”we ride with our customers and apply this deep connection in every market we serve to create superior value for all of our stakeholders.”  Another example is Starbucks which states; ‘to inspire and nurture the human spirit – one person.one cup and one neighbourhood.

The vision of an organization describes what the country aspires to be in future (Morden, 2016 Pg 96). The concept highlights the values and aspirations that lay at the heart of an organization. The vision statements have the potential to inspire employees, customers, and other stakeholders.  Vision statements are rare and getting a good one is more singular. Examples of good vision statements include; Google-‘’to develop a perfect search engine, Alcoa-‘’to is the best company in the world –in the eyes of our customers, shareholders, communities and people.

Conclusion

I have learnt about the crucial role of the mission and vision statements. In my role as a manager, I let people know about our vision and mission with the aim of increasing the performance of the company. What is coming pout from the chapter is that the firms whose vision and mission statements are known, the performance is likely to go up. This will benefit me in my job because I will be reminding my fellow employees the importance of vision and mission statements.