What’s the difference between a mission, vision, and values? This is a question we often get here at Business Unit. While the three terms are similar, they each serve a different purpose in your company. A mission statement is a brief description of what your company does. It should be clear and concise, so that anyone who reads it knows what you do and why you do it. A vision statement is a description of what you hope to achieve in the future. It’s more aspirational than the mission statement, and it can be longer-term (5-10 years). Values are the guiding principles that inform how you make decisions as an organization. They don’t change as often as the mission, vision and values but they should be revisited periodically to make sure they still reflect the culture of the company. Now that we’ve gone over the basics, let’s dive into each one in more detail.
What is a Mission Statement?
Your mission statement is your company’s reason for being—the motivating factor behind all that you do. It’s the “why” of your business. And it should be clear, concise, and inspiring.
A mission statement answers the question: What is our purpose?
Think of your mission statement as a rallying cry that informs everything you do as a company—from the products and services you offer to the way you treat your customers and employees. It’s the foundation of your brand and what sets you apart from your competition.
When crafting your mission statement, keep these things in mind:
- Keep it short and sweet. A good mission statement should be no more than a few sentences long.
- Focus on the future. Your mission statement should be aspirational—it should describe where you want to be, not where you are today.
- Be specific. A vague or general mission statement won’t do much to inspire or guide your team. Be clear about what you do and who you serve.
- Think about what sets you apart. What makes your company unique? Why should people care about what you do? Use those insights to inform your mission statement.
What is a Vision Statement?
A vision statement is a brief description of an organization’s long-term aspirations. It typically includes some element of success or positive change that the organization hopes to achieve. For example, a company might have a vision of becoming the most successful and respected business in its industry.
Mission statements, on the other hand, are more focused on an organization’s present goals and purpose. They usually describe the specific actions that an organization plans to take in order to achieve its vision. For example, a company’s mission might be to provide high-quality products and services that meet the needs of its customers.
Values are the beliefs and principles that guide an organization’s behavior. They help shape decision-making and can influence everything from how an organization treats its employees to how it interacts with customers. For instance, a company that values customer satisfaction might make sure that its products are always of the highest quality.
What are Core Values?
Your company’s core values are the foundation of your organization – they guide your decisions, shape your culture, and make you unique. A strong set of core values will help you attract and retain the best employees, inspire customer loyalty, and weather difficult times.
To develop your own set of core values, start by brainstorming a list of qualities that are important to you and your team. Then, narrow down that list to the 3-5 most essential values. Once you’ve settled on your final values, put them into action by living them every day and infusing them into all aspects of your business.
How to Develop Mission, Vision, and Values Statements
It’s important for every company to have a clear mission, vision, and set of values. Here’s how to develop these key statements:
- Mission Statement:
The mission statement should be a concise description of what your company does. It should answer the question, “What business are we in?”
- Vision Statement:
The vision statement should be an aspirational description of what you want your company to become. It should answer the question, “What do we want to achieve?”
- Values Statements:
Values statements should describe the principles that guide your company’s actions. They should answer the question, “What do we believe in?”
The Importance of Mission, Vision, and Values Statements
In order to maintain a successful business, it is essential to have a clear and concise mission, vision, and values statement. Your mission statement should define your company’s purpose, while your vision should lay out what you hope to achieve in the future. Lastly, your values statement should highlight the core principles that guide your company’s decision-making.
While some businesses choose to have all three of these statements separately, others choose to combine them into one overarching document. Regardless of which route you take, it is important that each statement be given careful thought and consideration. Your mission, vision, and values will serve as the foundation for all of your company’s decisions and actions, so it is crucial that they reflect your desired direction for the future.
If you are having trouble developing these statements on your own, there are plenty of resources available to help you get started. There are also many examples of successful mission, vision, and values statements from other businesses that you can use for inspiration. However you choose to develop yours, remember that these statements will be instrumental in shaping your company’s identity and guiding its future success.
Examples of Mission, Vision, and Values Statements
There are many ways to write a mission, vision, or values statement. Here are a few examples:
To promote world peace and understanding through education and cultural exchange.
A world where people of all cultures live in harmony and respect each other’s differences.
– We believe in the inherent worth and dignity of every person.
– We stand for justice, equality, and opportunity for all.
– We embrace diversity as a strength and value different perspectives.
The roles of mission, vision, and values are important to an organization’s success. A mission statement provides a sense of purpose and direction for the organization, while a vision statement sets forth the organization’s goals. Values provide a framework for decision-making and help guide the actions of employees. When these three elements are aligned, they can create a powerful engine for organizational success.