Understanding the Importance of Business Mission and Vision

To be able to get to your destination, you need to know where you’re going. We all know that you cannot achieve your goals if you don’t set your objectives beforehand. To strategically make decisions concerning your priorities, finances, and targets to help move your company forward, you need these two tools, your company’s vision, and mission statement. 

This statement or couple of sentences helps drive you and your employees forward in a unified direction as everyone knows where they are headed. Despite the importance, many organizations still do not have a clearly stated mission and vision statement, others who do either meld both of them together or don’t put much thought into them. 

This can cause a lot of discord and confusion in the company as everyone is pulling in a different direction. So in this article, we will discuss what these statements are, what makes them vary, and the roles they play in an organization’s continuity. 

What is a Vision Statement?

A vision statement has usually attributed the role of stating your hopes and dreams, proposing your ideas and wishes, but it goes deeper than that. The vision statement is about what you want your company to be moving forward, what you want to stand for. It serves as your inspiration. 

If written properly, it also serves as a solid framework for your strategic planning. Although it doesn’t show you how you get to where you want to go, it aids you in your decision-making process on how to go about achieving your long-term goals. Here are a few examples of vision statements;

Microsoft says, “Empower people through great software anytime, anyplace, and on any device.”

• Starbucks believes “to establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while we grow.”

What is a Mission Statement?

A mission statement is a description of the company’s present state, purpose, and objectives. Unlike the vision statement, it is a short-term declaration that is subject to change, although it shows how the company’s vision will be attained. Properly written mission statements must answer these three questions sufficiently – What does the organization do, for who does the organization do it, and how does the organization do what it does? Some examples of the company’s mission statements include;

American express says, “We work hard every day to make American Express the world’s most respected service brand”.

• IKEA says, “To create a better everyday life for the many people.”

What Makes A Business Mission and Vision Statement Important?

1. It sets a standard for performance and dedication

Once the vision and mission statements have been decided, it makes it much easier to establish a basis on what is expected of employees. These statements help guide the company’s workers as they know the level of performance required to work in that establishment.

2. Helps guide the thinking and actions of workers

The mission and vision statements help rally your troops as they all receive uniform information about conducting themselves as employees of the organization. An explicitly stated and interpreted mission and vision statement can help a lot in fine-tuning your employees’ actions as they can make more informed decisions.

3. Provides a stable and steady framework

The process of establishing a precise vision and mission statement is a daunting and difficult task, but when properly created, they provide a solid basis from which your employees can maneuver. It ensures that a change in management staff or ownership will not adversely affect performance or progress.

4. It serves as a source of inspiration

Self-motivated persons occupy a very small percentage of our population. Most people are more easily motivated by external sources like money, status, a noble achievement. The statements serve as a written document of what the company intends to achieve and to motivate those who align with its proclamations.

5. Helps attract the right people

A clearly stated vision and mission statement will remove the guesswork from attracting and hiring new talent into the organization. A succinctly written statement helps weed out those unfit for the job as the job requirements become much more specific and unambiguous.

6. It aids Public Relations

The vision and mission statements help solidify your organization’s identity; thus, it is expected that it will be part of your marketing plan. What you do, how you do it, and who you do it for are always great inclusions to your branding strategy as it aligns your company with those who relate to your aspirations. 

The statements will have a huge say in how the general public perceives your company/organization.

7. It facilitates potential partnerships and collaborations

When your company’s vision and mission statement has been properly established, there is a higher chance of garnering specific interest. This means you will get collaborators, partners, and customers who associate with and patronize you because of what you stand for and what you aim to achieve. 

8. Helps provide and maintain context during a restructuring

Organizational restructuring and resource reallocation are unavoidable aspects of company ownership, and they can cause your organization a lot of stress. Having a crisp and clear vision and mission statement will help keep your customers and employees in check, and they remain attached to your goals and beliefs.

Vision and mission statements are an essential part of the success of any organization. They work in tandem to help your employees and partners know what it is your organization stands for and what goals you aim to meet in the future. 

This helps align your company with other like-minded companies or customers who will add value to your organization and help reinforce your beliefs. If done properly, your company will grow with the right people using a set of common values to attain success.

A clear vision encourages innovation, critical thinking, and properly oriented actions which all work together to achieve an aim. This makes the vision and mission statement the bedrock of any organization that wants to go the distance.

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