What is a vision?
A vision is a long-term and inspiring picture of what an organization strives to achieve in the future. The vision serves as a guide and a motivating force for all members of the organization. It is often expressed in the form of a short and powerful sentence that describes the company's ultimate goals and ambitions.
Examples of visions:
Google: "To organize the world’s information and make it universally accessible and useful."
IKEA: "To create a better everyday life for the many people."
Tesla: "To accelerate the world’s transition to sustainable energy."
What is a mission statement?
The mission statement describes what the company does, for which customers, and how it differs from the competition. It is more concrete and specific compared to the vision and focuses on the products or services the company offers and the market it targets.
Examples of mission statements:
Spotify: "To give people access to all the music they want, all the time – in a completely legal and accessible way."
Airbnb: "To create a world where anyone can belong anywhere, providing healthy travel that is local, authentic, diverse, inclusive and sustainable."
Nike: "To bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete."
How do vision and mission statement relate to each other?
The vision and the mission statement complement each other and are both important for creating a coherent and successful strategy. The vision provides an overall picture of the company's future goals and ambitions, while the Mission statement describes the concrete path to get there.
The connection between vision and mission statement:
The vision inspires and motivates, while the mission statement concretizes and guides.
The vision is long-term and abstract, the mission statement is short-term and concrete.
The vision provides an overall purpose, the Mission statement describes how this purpose is achieved.
Other important concepts: values and goals
In addition to vision and Mission statement, there are several other important concepts that play a central role in the company's strategic planning.
Values: Values are the fundamental principles and beliefs that guide the company's culture and decision-making. They serve as ethical guidelines for how the company and its employees should act.
Examples of values:
Google: "Focus on the user and all else will follow."
Coca-Cola: "Leadership, collaboration, integrity, accountability, passion, diversity, quality."
Zappos: "Deliver WOW through service."
Goal: Goals are specific, measurable and time-bound statements of what the company wants to achieve. They can be divided into growth targets, strategic goals (long term) and operational goals (shorter term).
Examples of goals:
To increase market share by 15% within the next two years.
To launch three new products within the coming year.
To improve customer satisfaction by 20% within six months.
To create a vision and mission statement
Formulating a strong vision and a clear mission statement is crucial to giving your company a clear direction and a long-term purpose. Here's a step-by-step guide to creating these fundamental components using tools like GoalEnvision:
Create a vision
Gather your team: Involve management and key people in the company to get different perspectives and ideas.
Identify the company's core values and long-term goals: Discuss what is most important for the company and what you want to achieve in the long term.
Formulate an inspiring vision: Create a short and powerful sentence that describes the desired future. The vision should be motivating and easy to remember.
Test and adjust: Present the vision to the entire company and gather feedback. Make the necessary adjustments to ensure it resonates with everyone.
Implement and communicate: Integrate the vision into all aspects of the company, from strategic plans to day-to-day activities. Use tools like GoalEnvision to communicate the vision clearly to all employees.
Download workshop instructions to create vision...
Create a mission statement
Analyze the market and competitors: Understand the market you operate in and identify your competitors. Analyze their strengths and weaknesses.
Define your customers and their needs: Determine who your target groups are and what needs and problems they have that your company can solve.
Identify your unique positioning: Determine what makes your company unique compared to the competition. This can be unique products, services or approaches.
Formulate the mission statement: Write down a clear and concise description of what your company does, for which customers and how you differ from the competition.
Test and adjust: As with the vision, present the mission statement to the entire company and gather feedback. Adjust it if necessary.
Implement and communicate: Integrate the Mission statement into all strategic documents and use it as a guide for decision-making and day-to-day activities. GoalEnvision can help structure and follow up the mission statement.
Download workshop instructions to create a mission statement...
Creating a vision and a mission statement is an iterative process that requires commitment and collaboration. By using structured tools such as GoalEnvision, the process can be made simpler and more efficient, leading to a clearer direction and stronger cohesion within the company.
Practical examples and case studies
To understand how vision and mission statement can be implemented effectively, it is useful to look at some real examples.
Case study 1: Tesla
Vision: "To accelerate the world’s transition to sustainable energy."
Mission statement: Tesla designs and manufactures electric cars, solar power systems and energy storage solutions to promote sustainable energy and reduce the world's dependence on fossil fuels.
Case study 2: IKEA
Vision: "To create a better everyday life for the many people."
Mission statement: IKEA offers a wide range of well-designed and functional home furnishing products at such low prices that as many people as possible should be able to afford them.
Vision and Mission statement are central concepts that together help companies create a clear direction and a strong purpose. By understanding and effectively implementing these, companies can inspire their employees, differentiate themselves from the competition and achieve their long-term goals. Having a well-articulated vision and mission statement is not only important for large companies, but also for small and medium-sized companies striving for growth and success.
