Mission & Vision Statements: What is the difference between mission, vision and values statements?

Each statement may be part of the strategic planning process but have a different objective.  These statements may be written for organizations or for individual departments.  

A mission statement is a concise explanation of the organization's reason for existence. It describes the organization's purpose and its overall intention. The mission statement supports the vision and serves to communicate purpose and direction to employees, customers, vendors and other stakeholders. See SHRM's Company Mission Statement Examples for a variety of samples. Questions to consider when drafting mission statements could include: 

• What is our organization's purpose?
• Why does our organization exist?   

A vision statement looks forward and creates a mental image of the ideal state that the organization wishes to achieve. It is inspirational and aspirational and should challenge employees. Questions to consider when drafting vision statements might include:

• What problem are we seeking to solve?
• Where are we headed?
• If we achieved all strategic goals, what would we look like 10 years from now?

A values statement lists the core principles that guide and direct the organization and its culture. In a values-led organization, the values create a moral compass for the organization and its employees. It guides decision-making and establishes a standard against which actions can be assessed. These core values are an internalized framework that is shared and acted on by leadership. When drafting values statements, questions to consider might include:

• What values are unique to our organization?
• What values should guide the operations of our company?
• What conduct should our employees uphold?

In conjunction with a values statement, a code of ethics puts those values into practice. It outlines the procedures in place to ensure the organization's values are upheld. Questions to consider when creating codes of ethics might include:

• What are common ethical issues in our industry?
• What should someone do if he or she sees a violation of our values?

Management cannot create a new values statement or ethics code and expect immediate change. For an organization to have an effective values statement, it must fully embrace its values and ethics at all levels of the company and use them daily to guide its attitudes, actions and decision-making. Refer to What does it mean to be a values-based organization? for more information.

Compass

This framework is based on an article from the Harvard Business Review, December 2011 (link) titles “The Power of Collective Ambition,” by Douglas Ready and Emily Truelove. It profiles, among others, the Four Season’s Hotel chain, who survived the latest recession remarkably well. The authors argue that these companies found a sense of purpose based on collective ambition, spelling out a number of elements that they see as critical to success:

• Purpose: your companies reason for being. 
• Vision: the position or status your company aspires to achieve within a reasonable time frame.
• Targets and milestones: the metrics you use to assess progress toward your vision.
• Strategic and operational priorities: the actions you do or do not take in pursuit of your vision.
• Brand promise: the commitments you make to stakeholders concerning the experience the company will provide.
• Core values: the guiding principles that dictate what you stand for as an organization, in good times and bad.
• Leader behaviors: how leaders act on a daily basis as they seek to implement the company’s vision.  Not revolutionary new stuff, but I find the visual to be a nice way to document all these key things. Brand promise ranks highly, and not surprisingly, the companies portrayed in the article include Four Seasons Hotels, Sephora, HSBC and Danone. For B2B companies, this element is probably somewhat less important, although it should not be ignored altogether. One other important element that the article talks about is the concept of “glue and grease:” Shaping a collective ambition is not only about a nice visual. Companies should undertake efforts to engage as many people as possible (the glue), but also launch initiatives focused on disciplined execution (the grease). 

How to Set the Right Goals and Make Them Work for You

Are you starting to lose focus on your goals? If so, you’re not alone. This is the time of year a lot of people lose their focus.

The problem is that annual goal-setting doesn’t work. You can’t plan an entire year and know in advance all the goals you will need to achieve. It’s likely that many of your goals are no longer motivating and many no longer make sense.

If goal-setting hasn’t been working for you, here’s how to set the right goals that will get you where you want to go:

1. Always keep your vision in mind while choosing goals.

The point of setting goals is to support you in moving toward your vision. Without a clear vision, your goals might not take you where you want to go.

There’s a big difference between a vision and a goal. Vision is your destination. Goals are the milestones that mark your journey. They quantify and define the steps you take along the way.

Where your vision is broad and big, goals are tangible and specific. They answer questions like “when?’ and “how?” and “how much?”  SMART goals are specific, measurable, attainable, relevant and time-bound. Here are three guidelines to keep in mind when choosing goals:

• Look for high-leverage goals – those that will allow you to leapfrog forward.

• Consider goals that will have a long-term payoff, even at a short-term price. For example, you might choose some inexperienced high potential players for your team, with a plan to help them gain the skills and experience.

• Look for goals that will give you some quick wins. This will help you see progress and stay motivated.

2. Be willing to reset your goals.

Don’t get so focused on your goals that you forget about your vision. Change is inevitable. It is said it takes 1001 mid-course corrections to reach the moon.

The trick is to stay focused on your vision, and, as in sailing, “tack” to your destination. Change your course depending on the winds and other conditions.

3. Revisit your vision frequently.

Sometimes teams drift off course without realizing it. And so can individuals. To avoid waking up one day wondering how you got so far off course, revisit your goals frequently and use them as an early warning system to detect when you are off course.

4. Set up systems and practices that support your goals.

On a personal level – what structures and routines do you need to set up to develop the habits that will support your vision? – regular exercise time?

For a team, look at your formal and informal ways of working together. Consider processes for communication, accountability, training and rewards. For example, if teamwork is one of your goals– are there rewards for team performance or is the focus on individual contributions? Systems that are not aligned with your vision and goals will derail you and your team.

5. Set goals for relationships as well as tasks.

The journey is as important as the destination. Are your actions consistent with your values and where you want to go? Make sure you have a good feedback system in order to know.

6. Set goals as you go.

Vision is about COURAGE.  Goals are about TAKING ACTION.

As soon as you identify your vision, start to live it.  You can’t create a vision for a healthy life and continue a diet of junk food. As a leader, not only must you say what’s important, you need to demonstrate it – consistently. People watch what you do more closely than what you say.

Taking action means not waiting for all the details to be worked out. When you are clear about where you’re going, and have set goals for the next steps, the entire path does not be clear. As long as you keep your vision in mind, the next steps will become clear as you accomplish your goals.

6 TIPS TO SET GOALS THAT WILL GET YOU WHERE YOU WANT TO GO

Here’s a more in-depth explanation of the relationship between vision and goals and how to make your goals work for you.

Brand vision