MISSION AND VISION - Why is it important?
The importance for an organization to develop a vision and mission, is important for strategic direction. It helps the employee know the purpose of its existence and core values on which it is governed. It is an integral part of a company's strategy that helps to set priorities, allocate resources, and ensure that everyone is working towards common goals and objectives, thus providing a road-map to the future.
However, there is a basic difference between the vision and mission statements.
What is a Mission Statement?
A Mission statement is important for an organization because it defines the business, products or services, and customers, thereby defining the primary objective. It provides detailed information about what the organization does, how it does, and who it does it for. Unlike the vision statement, it is short-term in nature.
“According to Stephen Covey if you don’t set your goals based upon your Mission Statement, you may be climbing the ladder of success only to realize, when you get to the top, you are on the wrong building”
What is a Vision Statement?
Where in, the Vision statement focuses on its goals and aspirations, which describes how the future will look if the organization achieves its mission. They are also timeless, even if the business changes its strategy, the vision will often stay the same. A realistic, credible, and attractive vision statement attracts commitment and energizes its people.
In addition, a well thought out vision statement bridges the present with the future while establishing a standard for excellence. It also communicates the purpose of the organization to the employees and other stakeholders and provides them with the inspiration to achieve that purpose.
Importance of Vision and Mission Statement in an organization
Both the mission and vision statement play an important role in the organization:
- The vision and mission statements define the purpose of the organization and instill a sense of belonging and identity to the employees. This motivates them to work harder in order to achieve success. It gives the right mindset to grow business.
- The mission statement provides the direction that is to be followed by the organization while the vision statement provides the goal (or the destination) to be reached by following the direction.
- It helps to properly align the resources of an organization towards achieving a successful future.
- The mission statement provides the organization with a clear and effective guide for making decisions, while the vision statement ensures that all the decisions made are properly aligned with what the organization hopes to achieve
- The vision and mission statements provide a focal point that helps to align everyone with the organization, thus ensuring that everyone is working towards a single purpose. This helps to increase efficiency and productivity in the organization.
In conclusion, we can only say that vision and mission statements are very essential for companies. Without vision and mission statement companies do not have the goals and if there is no goal, how can companies survive?
A Vision and mission statement is a born of every planning and strategy of the companies and they can best be described as a compass and destination of the organization respectively. However, we can say that vision and mission statements are the base of organizations as not doing so would be like going on a journey without knowing the direction you are to follow or the destination.
Creating a vision and mission statement for your organization
A company’s success, a lot of it, depends on its vision and mission statements. They have certain core elements that drive an organization to the height it aims at reaching. Creating correct statements for your business that suits your trade and work area should be on top priority.
Though it takes a lot of brainstorming sessions to draft a vision and mission statement, if followed these steps, creating them is easier.
Know the purpose of your organization
Before drafting the vision and mission statements, you should be completely aware of the purpose of your organization. An organization’s purpose is solely based on its core values and a philosophy that dictates it. Note your values, beliefs, and purpose is set.
Note your strengths
To become successful you must know your strengths. To discover your strengths,
- Take your employees perspective on your company
- Consider improvement opportunities from time to time
- Sometimes explore beyond your horizons
- Identify factors that influence your business
By knowing your strengths, you can improve even better and get a better vision for your organization. You can set your next targets accordingly.
Project a five-year plan
Now, you know your company’s purpose and strengths. Setting up goals becomes easy for you. You can now write your vision and mission statement based on the analysis of these. To have a proper vision and mission statement, you should be specific, measurable, attainable, relevant, and timebound. Determine your five-year plans such as business expansion or startup ideas based on this information.
Draft your statements
Your vision and mission statements are for everyone who is associated with your organization in one way or another. It should be concise, simple, and should be easily memorized.
The core elements while drafting an effective vision and mission statement are:
- Being Specific
- Should be attainable
- Should Inspire people within and outside the organization.