The mission, vision and values of a company constitute the elements that identify it, since the values indicate the purposes that define the mission and vision and these give the reason why and why it exists.
Therefore, defining a clear and precise mission and vision for the company is very important, as this will help it to successfully achieve the proposed objectives. These elements give life to the company, justifying its existence and indicating the purpose for which it was established.
In addition, the mission, vision and values become the basis on which the strategies that the company has to implement to achieve growth and success must be developed.
How we define each element
It is important to differentiate each term, so we are going to define each one.
Definition of a company’s mission
On the one hand, the definition of the mission makes a reference to the motive or reason for the existence of the company, it is related to the present moment in which the organization operates, it indicates what the company does at a certain moment .
Also, it is related to the short-term performance of the company, it focuses more on the now and the present moment. The mission helps determine what needs to be done to reach a future goal.
That is, it must establish what the company does and what makes it different from the others, because it encompasses the fundamental reasons why the company was created.
Characteristics of a good business mission
They are as follows:
- Short and precise: The mission statement should be simple and easy to understand, so that everyone understands it.
- Inspirational: It must motivate everyone who is part of the company to seek to achieve the proposed goals.
- It must be original : It must talk about the company, what the company does and what makes it different.
- The market is directed : It indicates what the company does in the market and how value is added to the customer.
Some mission examples could be:
- Google: Organize the world’s information to make it universally accessible and useful.
- Walmart: We save you money so you can live better.
Defining the vision of a company
For its part, the vision determines where the company must go, so its purpose has to be ambitious, but without forgetting to be realistic.
Likewise, it establishes the point at which you want to reach, therefore its achievement is achieved in the long term. The mink becomes a source of inspiration for the people who work in the company to commit to wanting to achieve the goal.
Of course, the vision of a company can change, but it must always maintain the original values that inspired the creation of the company.
Characteristics of good vision
They are as follows:
- Projecting into the future: It must be projected in the short, medium and long term.
- Clear and realistic: Everyone must understand it and it must be achievable.
- Inspiring and consistent: It expresses the dream of how the company wants to be, but maintaining the relationship with the mission of the company
Some examples are:
- Google: To be the most prestigious search engine and the most important in the world.
- Walmart: To turn Walmart into the best and largest retail company in the world, by offering the best products on time and providing excellent service.
Definition of company values
Apart from, the values represent the beliefs and principles that govern a company, which allows to guide the action guidelines and the conduct of the people who work within the organization. They represent the ethical principles that sustain the actions of the company.
Indeed, they become the inspiration and the source of motivation for people, this favors the generation of a positive image of the company and gives it its own identity.
Characteristics of the securities
- Convincing: They must be principles that represent what the company truly believes and with them expresses its level of commitment.
- Coherent : Be congruent with the values of the entrepreneurs and with the values of the business partners.
- Be accepted and complied with : It implies that they must be accepted and respected by all those involved.
Examples of values
Some of Google’s values are:
- Responsiveness, etc.
Some of Walmart’s values are:
- Customer service.
- Respect for the individual.
- Strive for excellence.
- Act with integrity, etc.
Finally, we can say that the mission, vision and values of a company constitute the fundamental axis of every company, especially when choosing their action strategies that they will use in the present in order to successfully achieve their proposed objectives. The way a company performs at the present time will define its future projection; as well as the achievement of its expected degree of growth and success.