Business: Vision and Mission
A vision, or vision statement, answers the question “What do we want to become?”
When considering this question, think about goals that support your core business.
Here are some questions to ask yourself:
- What will the business look like in 3-5 years?
- What new things will you do?
- How will your customers’ needs change in the future?
Things to think about to help describe your vision:
- Size of your company
- New Products
- Financial Achievements
- Market Positioning
When writing a vision statement it’s important to remember to visualize the future and describe your envisioned future in the present tense, as if the day already arrived.
The more clear, concise and visual, the better will be your vision statement. Add specifics and measurable goals when possible.
Time is an important component to a vision statement. At minimum, it should be three years out in the future. Businesses often undershoot 1-year targets while overshooting long-term targets.
What will you achieve beyond profitability? In other words, what are you bringing to the marketplace? Is it the best customer service in your industry? Is it continued progress or revolutionary innovation? Use descriptive language, and don’t be afraid to shoot for a lofty goal.
Don’t forget to include your values. What do you stand for? If you’re a media company, maybe you stand for Truth in journalism. Your values should inspire the very best in your business, and set the bar high. Standing for something beyond the bottom-line will help your business reach new heights.
A vision statement does three things for your business:
1. Guides the decision-making process. If it doesn’t bring you closer to your vision for the company, don’t do it.
2. Guides employee behavior. By asserting your values, employees know what is expected of them beyond the usual job description
3. Shapes customer understanding of your business. Customers like to know, beyond making money, what motivates you to serve them.
Here are some examples:
McDonald’s vision is to be the world’s best quick service restaurant experience. Being the best means providing outstanding quality, service, cleanliness, and value so that we make every customer in every restaurant smile.
Coco Cola Vision
“To achieve sustainable growth, we have established a vision with clear goals.”
Profit: Maximizing return to shareowners while being mindful of our overall responsibilities.
People: Being a great place to work where people are inspired to be the best they can be.
Portfolio: Bringing to the world a portfolio of beverage brands that anticipate and satisfy peoples; desires and needs.
Partners: Nurturing a winning network of partners and building mutual loyalty.
Planet: Being a responsible global citizen that makes a difference.