A mission statement is a formal short written statement of the purpose of the company or organization. The mission statement should guide the actions of the organization, spell out its over all goal, provide a sense of direction, and guide decision making. It provides the framework or context within which the company’s strategies are formulated. A mission statement talks about the present leading towards the future. Your mission statement may change, but it should still tie back to your core values, customer needs and vision.
A vision statement takes into account the current status of the organization and serves to point the direction of where the organization wishes to go. As means of setting a central goal that the organization will aspire to reach, the vision statement helps to provide a focus for the mission of the corporation, business or non profit entity. A vision statement talks about your future. As your organization evolves, you might feel tempted to change your vision. However, mission or vision statements explain your organization’s foundation, so change should be kept to a minimum.
What are the functions of mission statement?
It lists the broad goals for which the organization is formed. Its prime function is internal; to define the key measure or measures of the organization’s success and its prime audience is the leadership, team and stockholders.
What are the functions of vision statement?
It lists where you see yourself some years from now. It inspires you to give your best. It shapes your understanding of why you are working here
The mission statement guides the day-to-day operations and decision-making of the organization. It helps in tactical planning and “rallying the troops” around a common near- to medium-term goal. The mission statement helps members of the organization get on the same page on what they should do and how they should do it. The vision statement is, in a sense, loftier. It outlines the worldview of the organization and why it exists. It attracts people — not just employees but also customers and vendors — who believe in the vision of the organization.
What to Include in a Mission Statement
When developing a mission statement, it should be seen that the following questions are answered:
What do we do today?
For whom do we do it?
What is the benefit?
Features of an effective mission statement are:
Purpose and values of the organization
What business the organization wants to be in (products or services, market) or who are the organization’s primary “clients” (stakeholders) What are the responsibilities of the organization towards these “clients” What are the main objectives that support the company in accomplishing its mission
What to Include in a Vision Statement
When developing a vision statement, it should be seen that the following questions are answered:
What do we want to do going forward?
When do we want to do it?
How do we want to do it?
Features of an effective vision statement include:
Clarity and lack of ambiguity
Describing a bright future (hope)
Memorable and engaging expression
Realistic aspirations, achievable
Alignment with organizational values and culture
Time bound if it talks of achieving any goal or objective