How to define your company's Mission, Vision and Values: a practical guide - Leadership and Much More (2024)

Defining a company’s mission, vision, and values is crucial to its success. These elements serve as a roadmap for the organization, guiding decision-making, setting priorities, and shaping its culture. However, crafting a mission statement, vision statement, and core values can be a challenging task, especially for new businesses or those undergoing a period of change.

In this article, we’ll provide you with a practical guide to defining your company’s mission, vision, and values. We’ll cover everything from the importance of each element to the steps you can take to create them effectively. With our expert guidance, you’ll be able to articulate a clear purpose and direction for your organization, foster a shared sense of values and goals, and ultimately, drive growth and success. So if you’re ready to define your company’s mission, vision, and values, read on to discover our practical guide.

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Mission, Vision, and Values: How to define these statements to reflect your company’s identity

Mission, vision and values are fundamental elements of a company or organization that help define its identity and guide its strategic decisions. The mission is the company’s statement of purpose or reason for existing, while the vision represents the future that the company aims to achieve.

Values are the ethical and cultural principles that guide the behavior and actions of the organization. These elements are essential for the company to establish clear objectives consistent with its identity, in addition to conveying its message and brand effectively.

Some inspirations to assemble Mission, Vision and Values:

Mission

• What are we going to do today ?
• What are we for?
• What are we trying to accomplish?
• What impact do we want to achieve?

Vision

• Where are we going to move forward?
• What do we want to achieve in the future?
• What kind of future society do we envision?

Values

• What do we support?
• What are our non-negotiables?
• How do we treat our organization and community members?

What comes first: Mission, Vision or Values?

When building a company or organization, it is important that the definition of the mission is the starting point, as it represents the purpose or reason for the company’s existence. The mission is the statement that defines its identity, its performance and its value for society and for the market in which it operates.

From the definition of the mission, the organization’s values can be established, as they reflect the ethical and cultural principles that guide the behavior of the company and its employees. Values are fundamental for building the organizational culture and for employee engagement, as they represent what is considered important and ethical in the company’s operations.

Finally, the vision of the future must be established taking into account the mission and values of the organization. It represents what the company wants to achieve in the long term, but it must be aligned with its identity and purpose.

Therefore, the mission must come first in building the company or organization, followed by the values and vision of the future, so that its identity, culture and strategy are coherent and aligned with its purpose.

What are the 3 parts of a Vision Statement?

A vision statement can be made up of several parts, but is usually structured around three main elements: what you do, how you do it, and why you do it.

1. The first element, “what you do”, refers to the description of the company’s main activity. This part of the vision is important to define the company’s scope of action and to delimit the market or sector in which it operates.
2. The second element, “how you do it”, refers to the definition of how the company carries out its main activity. This part of the vision is important to establish the competitive advantage of the company in relation to its competitors and to highlight its value proposition.
3. Finally, the third element, “why do you do it”, refers to the definition of the company’s purpose or reason for existing. This part of the vision is important for conveying the company’s aspiration and sense of purpose, as well as for establishing its organizational identity and culture.

By combining these three elements, the company’s vision statement is able to convey a clear message about what the company does, how it does it, and why it does it. This is essential to establish strategic objectives consistent with the company’s identity and purpose.

How do I initiate the mission vision values?

Starting to define a company’s mission, vision and values may seem like a challenging task, but it is essential to establish the company’s identity, purpose and organizational culture.

Bringing the company’s leadership team and key personnel together to discuss and establish the company’s aims and values is a smart place to start. It is important that this discussion is guided by questions such as: “what is our purpose?”; “What do we want to achieve in the long term?”; “What are the values that guide us?”; “What differentiates us from our competitors?”.

In order for the company’s vision, purpose, and values to accurately reflect the variety of thoughts and viewpoints present inside the business, it is also crucial to take into account the perspective and opinion of every team member.

Another option is to conduct a survey of the firm’s stakeholders, such as customers, suppliers and business partners, to learn how they view the organization and what their expectations are for it. This survey can help identify the company’s strengths and weaknesses and guide the definition of the vision, mission and values.

In summary, starting to define the company’s mission, vision and values can be done through collective discussions, considering the perspective of all team members, or through surveys with the company’s stakeholders. What is important is that these definitions reflect the company’s identity, purpose and organizational culture.

How to create Vision, Mission and Values Statements

Creating vision, mission, and values statements is an important process for establishing a company’s identity, purpose, and organizational culture. Here are some tips to help you create these statements:

Define Your Company’s Purpose

• Defining the purpose of your company is a crucial step in creating vision, mission, and values statements. This purpose statement should articulate the core reason why the company exists and what it aims to achieve. It should be concise, inspiring, and reflective of the company’s overall direction.

Identify Your Company’s Values

• Values are the guiding principles that shape the company’s culture and behavior. They define how the company operates, interacts with stakeholders, and makes decisions. It’s important to identify the core values that align with the company’s mission and vision. These values should reflect the desired ethical standards, beliefs, and priorities of the organization.

Establish Your Company’s Vision

• The vision statement represents the desired future state of the company. It serves as an aspirational guidepost that inspires and motivates employees and stakeholders. A compelling vision statement should be ambitious, specific, and aligned with the company’s purpose. It should paint a vivid picture of what the company aims to achieve in the long term.

Write Vision, Mission, and Values Statements

• Based on the purpose, values, and vision, craft concise and impactful statements for the vision, mission, and values. The vision statement should capture the company’s future goals and aspirations. The mission statement should define the company’s overall purpose, what it does, and who it serves. The values statement should articulate the guiding principles and beliefs that shape the company’s culture and decision-making processes. These statements should be clear, memorable, and easily understood by employees and stakeholders.

Review and Adjust

• Vision, mission, and values statements should not be set in stone. They should be periodically reviewed to ensure they remain relevant and aligned with the evolving needs of the company and its stakeholders. As the company grows and changes, it’s important to assess whether the statements accurately reflect its identity, purpose, and organizational culture. Adjustments may be necessary to maintain consistency and ensure that the statements continue to inspire and guide the company’s actions.

By following these steps, companies can create vision, mission, and values statements that provide a clear sense of purpose, direction, and identity, fostering a strong organizational culture and guiding decision-making processes.

How does the customer see a company that has a well-defined mission, vision and values?

Customers generally view a company that has a well-defined mission statement, vision, and values as more reliable and committed to quality and customer satisfaction. This is because the statements reflect the company’s identity and purpose, its organizational culture and its commitment to providing products or services in line with the customer’s needs and expectations.

A clear and concise mission statement helps customers understand the company’s purpose and goals, and this can help establish customer trust and loyalty. A compelling vision can also demonstrate the company’s dedication to enhancing its offerings over time in order to satisfy consumers’ changing demands.

Company values are also important to customers, as they demonstrate the company’s commitment to operating in an ethical and responsible manner. This can be especially important for customers who value sustainability and social responsibility.

Customers favor businesses that have well defined mission statements, visions, and values because it shows that they are dedicated to meeting their requirements and expectations for high-quality goods and services. These statements can help establish trust, loyalty and a lasting relationship between the company and its customers.

Conclusion

In conclusion, the mission, vision and values statement is an important tool for any company that seeks to succeed and stand out in its sector. These statements help establish the company’s identity and purpose, its organizational culture and its commitment to providing quality products or services in line with customer needs and expectations.

A clear and concise mission statement helps guide the company in its daily decisions and actions, while an inspiring vision gives the company a sense of direction and long-term purpose. The company’s values reflect its core beliefs and help establish its culture and commitment to operating ethically and responsibly.

For customers, the mission, vision and values statement can be an important factor when choosing a company to do business with. Consumers like organizations with a clear and well-defined statement since it shows the company is committed to offering quality products or services that meet their wants and expectations.

In summary, the mission, vision and values statement is an essential tool for any company seeking to be successful and sustainable in the long term. It helps establish the company’s identity and purpose, guiding its daily decisions and actions and demonstrating its commitment to providing quality products or services in line with the customer’s needs and expectations.

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Other references:

https://courses.lumenlearning.com/wm-principlesofmanagement/chapter/reading-mission-vision-and-values/

https://www.batonglobal.com/post/how-to-write-mission-vision-and-values-statements-with-examples

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