Speaker 1: In this video, we're gonna talk about mission, vision, and especially the values an organization wants to uphold. This is the third video in a three-part series, so we're going to emphasize the third part, values. So let's get into the details. At the end of this video, I'm going to ask you to list your top three or four values you want to live by as a professional or as a team. So keep that in mind as we go through this. But first, let's briefly recap the first two videos in this three-part series for some context. I'll put links to those videos on mission and vision in the description below this one. And if you've already watched those two videos, you can skip to the next part and go right to values. Here's a recap. A mission statement is a concise explanation of what an organization does. It's assignment. Usually, a mission statement has three parts. It explains the why or the contribution or benefit the organization is trying to make. The who explains the intended customer or community the organization wants to reach. And sometimes it indicates the how, the distinctive strategy or approach an organization takes. So I'll put this in my own words by saying that a mission statement is like a concise job description for an entire organization that focuses on its day-to-day activity. So here's an excellent example of a mission statement I referenced from an earlier video from Heifer International, a nonprofit organization. The mission of Heifer International is to end hunger and poverty while caring for the earth. Heifer does this by providing appropriate livestock, training, and related services to small-scale farmers and communities worldwide. If a total stranger walked up to a Heifer employee and asked, so what does your organization do? This concise mission statement says it all for Heifer. It explains the organization's why to end hunger and poverty. It's who, small-scale farmers and their communities, and it's how, providing livestock, training, and related services. Next, a vision statement is a concise statement that explains what the organization wants the future to look like. It describes the organization's overarching long-term goal. In video number two in this series, we talked about the original vision statement for Netflix from the CEO, Reed Hastings. That vision statement was becoming the world's best global entertainment distribution service. It's very concise, and it spells out exactly where the CEO wanted the organization to go. They wanted to be the world's best of its kind for lots of reasons. Many people are confused about the difference between a mission statement and a vision statement. So to keep it clear, it's best to think about a mission statement as describing the day-to-day job description of an organization, and a vision statement is the long-term goal of that organization. The mission statement is focused on the present. The vision statement is focused on the future. In theory, the textbook approach to this would be that an organization would spell out its mission, vision, and values really clearly on the website and any of the other corporate materials, and that these statements would all work together in a cohesive way. That's not always the case, but that's one approach. And now let's turn to the topic of values. Many organizations provide both internal and external stakeholders a concise explanation or a bulleted list of the values the company wants to live by. In short, corporate values explain the guiding principles and beliefs that help lead a team or organization toward a common goal. This is a lot like the personal values that you hold dear in your own life. You might want to be honest, hardworking, and pursue excellence in everything you do. Corporate values are the same, except the organization would promote these core values in an effort to get the entire group to take on these values so that the whole enterprise is on the same page. But just like in our own lives, corporations do not always live by the values they say they hold dear. Sometimes organizations say they value one thing, but their behavior does something different. But we will return to that issue a little later in the video. For the moment, let's look at some examples from organizations that you may have heard of. I talked about Wegmans in a previous video in this series, and Wegmans is a respected grocery store chain that has locations mostly in the Northeastern part of the United States. They have a great reputation, and on their website, they state their values directly. We care about the well-being and success of every person. High standards are a way of life. We pursue excellence in everything we do. We make a difference in every community we serve. We respect and listen to our people. We empower our people to make decisions that improve their work and benefit our customers and our company. You'll notice that these corporate values don't say anything about a grocery store, and that's not uncommon in the values statements that you'll see from organizations. Value statements are usually about the way an organization wants to treat people generally and how they want to do business generally. Values are not typically industry-specific. So let's talk about YouTube as a company. Most of us think about YouTube as a place to watch videos or, like me, post videos, but it's also an organization that has values that drive and motivate its leaders, employees, and decisions, at least in theory. And here are the corporate values I found about YouTube as a company and as a platform. YouTube values freedom of expression, freedom of information, freedom of opportunity, and freedom to belong. Does YouTube as a company really live by and uphold these values? It's a good question, but if you comment on that, I will stay out of the debate below. In theory, those are the values that they, at least say, they are striving for. Not all organizations will actually label these in obvious ways as their corporate values. They might just describe what the organization stands for and what they are all about. Heifer International, we mentioned earlier, is a nonprofit organization fighting to end hunger and poverty. And on their website, they call these their 12 cornerstones. But these are their values, and I won't read them all off, but these are the principles that drive and motivate the way Heifer does business. So whether they call them values or cornerstones or core beliefs, it's all the same concept. Another organization I mentioned in an earlier video in this series was Oyster, a sailboat manufacturer. They make high-end sailboats that are made to sail around the world. Oyster doesn't have a bulleted list of corporate values or cornerstones, but they do talk on their website about a deep sense of community. This is their central value that they hold dear. They explain at the heart of Oyster are our people, those who design and build these deck saloon yachts, and those who own and love them. We think of ourselves as a family, inspired by each other, the stories we tell, and the adventures we enjoy. I hope you will join us. If you know what to listen for, you can hear that the value of community is expressed in a couple of different ways. They talk about their people, who design and build the boats, their customers, who own and love the boats, and they think of themselves as a family. Those are all key words that explain this core value of community. Whether it's a short or long bulleted list or a narrative about what the company believes, there's no right or wrong approach. These are just different ways to communicate the team's values. Now let's turn back to an issue I mentioned earlier. Just like in our personal lives, we don't always measure up to the values that we say we want to live by. We may say we value honesty personally, but we may sometimes be dishonest, even when we're trying. And it's the same with organizations, except that organizations are also under pressure to establish a certain kind of reputation and public image. It's a sad but true fact that the fancy sounding values of some organizations on their websites and in their materials have nothing to do with the actual way they do business. An infamous example of this is the company called Enron. The short version of the story is that Enron was a controversial energy company. They went bankrupt about 20 years ago for a really long list of illegal, unethical, immoral activities. If there was a way to lie, cheat and steal, Enron did it. In retrospect, the corporate values published in their company's materials were laughable. They claimed that the corporate values were respect, integrity, communication, and excellence. That sounds good. It spells out the acronym RICE. That was catchy. The problem was that the company's leaders didn't live by these values whatsoever. Some of them went to prison. And I'd like to say that Enron was an isolated incident, but the corporate values that many organizations say they follow are not often consistent with how their people actually do business and how they treat each other in that organization. This is one of the reasons why employees sometimes get a little cynical about the values that their organizations claim to live by. I would say that most organizations stick pretty closely to their mission and they usually have a clear vision that they actually are aiming for. But when it comes to what they say they value and how they treat people along the way, many organizations fall short of their own published principles. I think that being honest about those shortcomings is perhaps the first step in trying to do better. So let's now turn to application. If you had to list your top three or four values that drive you personally, what would they be? Take a few minutes to think about that. And if you're doing this with a team or organization, what are the key values that you want to live by as you do business? If you have not yet watched the first two videos in this three-part series on mission and vision statements, I put links to those videos in the description below this one. Feel free to check those out because all three of these videos are intended to be watched together. So until next time, thanks, God bless, and I will see you soon.