Understanding Vision, Mission, and Values for Organizational Success
Explore the importance of vision, mission, and values in guiding a company. Learn how to craft effective statements and see examples from top organizations.
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Mission, Vision, Values Explained Business Corporate Strategy Course
Added on 10/02/2024
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Speaker 1: Imagine a CEO shares with you that there is constantly discussion amongst management and employees on what directions the company should take and asks you for help. You may quickly find out that there is a lack of clear and common vision, mission, and values. In this module, we will discuss each of these concepts, how they relate to each other and share some practical examples for better understanding. So, let's dive into it. We'll start with the first element, which is vision. A formulated vision provides a concrete way for stakeholders, especially employees, to understand the meaning and purpose of your business. It describes the desired long-term results of your company's efforts. For example, an early Microsoft vision statement was a computer on every desk and in every home. A company vision statement reveals at the highest levels what an organization most hopes to be and achieve in the long term. Having a vision in business will help you to align everyone to head in the right direction and give a purpose to what they do. So, how can one define their company's vision? Well, many companies have their teams brainstorm to come up with a vision statement that summarizes the company's vision in a brief and concise way. Brevity is key here. After all, your task is to write a vision statement, not a vision paragraph. Here are some examples of well-written vision statements from successful organizations. Amazon. Our vision is to be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online. LinkedIn. Create economic opportunity for every member of the global workforce. Great. Now that we've discussed what vision is, let's move on to the next element – mission. While vision is about using your imagination and foreseeing your company's future, the mission is about rolling up your sleeves and putting in the work. It's necessary to understand the difference between vision and mission. The vision statement describes where you want to take your company, whereas the mission statement describes what needs to be done to turn that vision into a reality. And just like the vision statement, a mission statement needs to be short and to the point. A moment ago, we discussed the vision statements of Amazon and LinkedIn. Now, let's discuss the mission statements of both of them. Amazon. Our mission is to continually raise the bar of the customer experience by using the Internet and technology to help consumers find, discover and buy anything, and empower businesses and content creators to maximize their success. LinkedIn. Connect the world's professionals to make them more productive and successful. Now, let's compare LinkedIn's mission statement with its vision statement that was mentioned before. If you can recall, LinkedIn's vision is to create opportunities for professionals around the world. And what does it need to achieve this vision? Well, as stated in the mission statement, LinkedIn plans to accomplish this by connecting professionals with each other. Great. Now that we've discussed vision and mission, it's time to discuss the last element, which is values.

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