Why developing vision, mission and value statements is important?
Sometimes companies put little to no time and effort into developing a clear vision, mission and value statement. There are many reasons for this including not thinking about the importance, thinking that employees already know what they need to know, believing everyone is already on the same page and seeing no value in the process.
Why? The purpose, of these statements, is to articulate the direction of the organization so you don’t have to take one step forward only to slide backwards. By developing a clear mission and vision statement, you can powerfully communicate your intentions and motivate your organization to realize a common vision for now and for the future.
The difference between the mission, vision and values?
A Mission Statement defines the purpose and primary objectives of the organization. It states what the organization does. It takes into account what uniquely positions you versus your direct and indirect competitors.
A Vision Statement outlines the purpose of the organization. What is your company committed to and what is the benefit of that commitment to your customers or the recipients of your services.
Values are your principles. It is what you believe in, what you assume and what you need to do to be successful. I think of values as your belief about how things should be done or how customers should be related to.
The mission, vision and value statements give your employees a sense of belonging as well as an overall view of how they are expected to conduct business, what comments they should be looking for and inspires them to give their best.
Shared with customers, it shapes the customers’ understanding of why they should work with your company and the benefits of doing so.