Chapter 7

Vision – expresses an organization's fundamental aspirations and purpose, usually by appealing to its members' hearts and minds.

A vision statement may add soul to a mission statement if it lacks one. Over time traditional statements of mission (example stating the business in which the organization is involved) may change, but the organization's vision may endure for generations.

The following statements represent the visions of three organizations:
Lowe's – to be our customer's first choice for home improvement in each and every market we serve eBay – to pioneer new communities around the world built on commerce, sustained by trust, and inspired by opportunity.
Dell Computer – To create a company culture where environmental excellence is second nature. Bringing value to customers and adding value to our company, our neighborhoods, our communities and our world through diversity, environmental, and global citizenship intiatives.

Many organizations don't have a vision statement. They may have a mission statement only.

Mission – the organization's purpose or reason for existing.

Mission statement answers basic questions such as:
1) What business are we in?
2) Who are we?
3) What are we about?

A mission may describe the customer needs the firms aims to satisfy, the goods and service the firm supplies, or the markets the firm is currently serving or intends to serve in the future. Some mission statements are lengthy but others are quite brief.

The following statements illustrate how three organizations express their missions:
Lowe's – to understand the needs of customers and develop business models to meet those needs eBay – to serve as the world's online marketplace for the sale and payment of goods and services by a diverse community of individuals and businesses
Dell Computer – to fully integrate