Vision

Corporate vision is a short, succinct, and inspiring statement of what the organization intends to become and to
achieve at some point in the future, often stated in competitive terms. Vision refers to the category of intentions
that are broad, all-inclusive and forward-thinking. It is the image that a business must have of its goals before it
sets out to reach them. It describes aspirations for the future, without specifying the means that will be used to
achieve those desired ends.
Warren Bennis, a noted writer on leadership, says: "To choose a direction, an executive must have developed a
mental image of the possible and desirable future state of the organization. This image, which we call a vision,
may be as vague as a dream or as precise as a goal or a mission statement."

Questions that help in crafting the vision:

1. What lines of business is the company going to be in?

2. What market position are we chasing

3. What size (revenue, profits, etc) will the company be

4. How much will the company be worth?

5. Listed or still a family business?

6. What assets (immovable and movable) will the company have?

7. What will its people be like (level of expertise, personal worth etc)

Mission Statement

A mission statement answers three key questions:

• What do we do?

• For whom do we do it?

 • What is the benefit?

Mission Statement Samples

"Our goal is simply stated. We want to be the best service organization in the world." (IBM)

"FedEx is committed to our People-Service-Profit Philosophy. We will produce outstanding financial

returns by providing totally reliable, competitively superior, global, air-ground transportation of
high-priority goods and documents that require rapid, time-certain delivery." (Federal Express)

"To give ordinary folk the chance to buy the same thing as rich people." (Wal-Mart)

"Our mission is to earn the loyalty of Saturn owners and grow our family by developing and
marketing U.S.-manufactured vehicles that are world leaders in quality, cost, and customer
enthusiasm through the integration of people, technology, and business systems." (Saturn)

The difference between mission and vision statements

A vision statement, on the other hand, describes how the future will look if the organization
achieves its mission. A mission statement gives the overall purpose of an organization, while a
vision statement describes a picture of the "preferred future." A mission statement explains what
the organization does, for whom and the benefit. A vision statement, on the other hand, describes
how the future will look if the organization achieves its mission.

Suggested implementation process:

1. Begin with the end in mind – craft the vision statement.

2. State the corporate values

3. Craft the mission statement

Read more:

i. http://wiki.answers.com/Q/What_are_the_different_between_vision_and_mission_statement
#ixzz1A4SERGaV

ii. http://management.about.com/cs/generalmanagement/ht/MissionStatemen.htm

iii. http://humanresources.about.com/cs/strategicplanning1/a/strategicplan_2.htm

iv. http://www.birnbaumassociates.com/mission-vision-values.htm

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