Strategic Planning: Fashioning your Vision, Mission, and Core Values

Start with the Big Picture

Your company’s vision statement is the broad overview of where you want to be.  Think of this statement as a declaration of your purpose through your goals and objectives.  It should answer the question, “Why are we here?”.  This is your time to talk about the impact your company will have on its stakeholders in the future.  Dare to dream big and take the opportunity to write a vision statement that will inspire daily operations and future strategic decisions.

Let’s take a look at PepsiCo’s Vision Statement:

“PepsiCo’s responsibility is to continually improve all aspects of the world in which we operate – environment, social, economic – creating a better tomorrow than today.”

Our vision is put into action through programs and a focus on environmental stewardship, activities to benefit society, and a commitment to build shareholder value by making PepsiCo a truly sustainable company.

PepsiCo clearly states their purpose and lists the stakeholders that will benefit from their company.  This statement gives both the employees and consumers a clear understanding of PepsiCo’s goals.  Your vision statement does not have to be lengthy, get to the point in a concise manner you will expand later.

Create a Map

Now that you have established your company’s vision, you can now breakdown the directions to get there.  Your Mission Statement defines the steps you will take to make your vision a reality.  Three questions should be considered when writing your Mission Statement: What do we do?, How do we do it?, and For whom do we do it?.  In 3 – 5 sentences you should be able to give a roadmap of where you are going, highlighting the product or service your company provides and the targeted consumer.

Again looking at PepsiCo in the below Mission Statement, we see the difference between their vision and mission.  PepsiCo mentions their product including both food and beverages and their market niche landing them in convenient locations. In addition, the internal and external stakeholders are mentioned along with the company Core Values: honesty, fairness, and integrity.

Our mission is to be the world’s premier consumer products company focused on convenient foods and beverages. We seek to produce financial rewards to investors as we provide opportunities for growth and enrichment to our employees, our business partners and the communities in which we operate. And in everything we do, we strive for honesty, fairness and integrity.

Core Values

Your company’s Core Values are the foundation of the culture.  They express the standards that are taken in to consideration in every business decision.  The identity of the company stems from these values and potential clients can easily decipher the traits of the business.  Most importantly, it gives your employees the expectations of their behaviors in the workplace.  From hiring to product delivery, your Core Values are a staple in the company.

Share your Strategy

It’s not enough to create a Vision and Mission Statement and have Core Values.  How can your customers and employees help you achieve your goals if they don’t know what the company stands for?  Communicate your Mission Statement, Vision Statement, and Core Values with your employees and external stakeholders by posting them on your website and in your business.  Take it one step further and create a company culture that lives the core values.

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