...Mission Statement vs. Vision Statement Every organization, in essence has some mission and vision, that are key factors in sustaining it in the business. Mission and vision statements give purpose to the firm in attaining a significant goal. Without a mission or a goal, it's impossible for any business entity to succeed in the long run. Comparison Mission statements are the main objectives of an organization. They inform the readers and customers about core values of your firm. They are like your business priorities, your methods and values of working that your firm will follow to achieve its objectives. Vision statements, on the other hand, are you long term goals that you have envisioned for the growth of your firm. Vision is your future and mission is your present, your reason for existence. Examples Some companies tend to use both the terms without any change in meaning. For example, Google's mission statement, as stated on their website is: "To organize the world's information and make it universally accessible." If we reflect upon the aforementioned statement, we will realize that it should indeed be the vision statement, because that is what Google ultimately aims to achieve- make search easier, faster and universally accessible. Similarly, if you go through the official website of Amazon, you will find that for the answer to the question, "Does Amazon have a Mission or Vision Statement?", their answer is, "Our vision is to be earth's most customer centric...
Words: 761 - Pages: 4
...INTRODUCTION A vision is a dream, it is what the firm or organization believes are the right conditions for its stakeholders for instance customers, employees and management. For example in the case of Annie Oakley’s case its vision can be: to inspire passion and spirit of ANNIE’S BABIES to the defense market with high quality and distinctive guns. A mission describes what the organization is going to do and the reasons for doing it. It always inspires people to action in order to achieve the desired vision. An example of a mission in the case: to provide the highest quality service to our esteemed customers by operating professionally managed dealerships committed to be the leader in the markets that they serve. To provide our employees with the opportunity to receive best compensation and opportunities for advancement within the organization. The role of Vision and mission statements in Annie’s Babies organization: They will help the organization to focus on important matters by helping the members and employees to remember what is important as they go about their daily activities in the organization. They will help other organizations and individuals to have a picture of who your group is and what its aspirations are. People can learn about the organization without having to work hard in order to find out about the organization. This helps in activities such as recruitment, promoting products and customer focus. Vision and mission statements are also very useful in...
Words: 843 - Pages: 4
...Nokia Group Finland Nokia’s mission is simple, Connecting People. Our strategic intent is to build great mobile products. Our job is to enable billions of people everywhere to get more of life’s opportunities through mobile. News - new strategy, new leadership, new operational structure Nokia has recently outlined its new strategic direction, including changes in leadership and operational structure to accelerate the company’s speed of execution in a dynamic competitive environment. Major elements of the new strategy include: * Plans for a broad strategic partnership with Microsoft to jointly build a new winning mobile ecosystem. * A renewed approach to capture volume and value growth to connect ”the next billion” to the Internet in developing growth markets * Focused investments in next-generation disruptive technologies * A new leadership team and organizational structure with a clear focus on speed, results and accountability “Nokia is at a critical juncture, where significant change is necessary and inevitable in our journey forward,” said Stephen Elop, Nokia President and CEO. “Today, we are accelerating that change through a new path, aimed at regaining our smartphone leadership, reinforcing our mobile device platform and realizing our investments in the future.” The strategy Nokia’s strategy is about investing in and ensuring Nokia’s future. “I have incredible optimism because I can see fresh opportunity for us to innovate, to differentiate, to...
Words: 1272 - Pages: 6
...Concept of Mission Statement & Vision Statement Every company should have a Mission and or a Vision Statement. But they are very difficult to write - they should short, clear, vivid, inspiring and concise without using jargon, complicated words or concepts. A Mission Statement is generally included in documents such as Business Plans and Staff Handbooks and can be described as a cross between a company or corporate slogan and an executive summary. A highly successful Mission Statement is both memorable and engaging. No wonder a Mission Statement is hard to write and there is so much confusion between a Mission Statement and a Vision Statement. Vision Statements and Mission Statements are the inspiring words chosen by successful leaders to clearly and concisely convey the direction of the organization. By a clear mission statement and vision statement, entrepreneurs can powerfully communicate their intentions and motivate their team or organization to realize an attractive and inspiring common vision of the future. A Mission Statement defines the organization's purpose and primary objectives. Its prime function is internal – to define the key measures of the organization’s success – and its prime audience is the leadership team and stockholders. Vision statement is a short, succinct, and inspiring statement of what the organization intends to become and to achieve at some point in the future. Vision refers to the category of intentions that are broad, all-inclusive and...
Words: 862 - Pages: 4
...Vision Statements and Mission Statements are the inspiring words chosen by successful leaders to clearly and concisely convey the direction of the organization. By crafting a clear mission statement and vision statement, you can powerfully communicate your intentions and motivate your team or organization to realize an attractive and inspiring common vision of the future. "Mission Statements" and "Vision Statements" do two distinctly different jobs. A Mission Statement defines the organization's purpose and primary objectives. Its prime function is internal – to define the key measure or measures of the organization's success – and its prime audience is the leadership team and stockholders. Vision Statements also define the organizations purpose, but this time they do so in terms of the organization's values rather than bottom line measures (values are guiding beliefs about how things should be done.) The vision statement communicates both the purpose and values of the organization. For employees, it gives direction about how they are expected to behave and inspires them to give their best. Shared with customers, it shapes customers' understanding of why they should work with the organization. Mission Statement Creation 1. To create your mission statement, first identify your organization's "winning idea". 2. This is the idea or approach that will make your organization stand out from its competitors, and is the reason that customers will come to you and not your competitors...
Words: 473 - Pages: 2
...Mission and Vision Statement Today, in the 21st century, when the borders between countries erased, and people travel all over the world and within their countries, the airline industry has become more popular. Air carriers have become more sophisticated and aware of their customers’ needs; thus, they operate at all levels providing a valuable service to their customers. Talking about the US airline industry, I want to analyze such companies as Southwest Airlines and Jet Blue Air. In order to analyze these companies, it is necessary to start with what are the company aims, what is important to it, what it wants to achieve, and who the groups are. All this valuable information is reflected in the company’s mission and vision statement. Thus, let’s take a closer look at mission and vision statements of Southwest Airlines and Jet Blue Air. According to the Southwest Airlines Annual Report (2013), “The mission of Southwest Airlines is dedication to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit.” Moreover, the company has expanded mission statement, “We are committed to quality service for the everyday person. Southwest provides air transportation to cities all around the United States. We fly the most luxurious planes on the market with the latest technology money can buy. We competitively provide the lowest airfare price in search for the greatest advantage in today’s busy world. We provide the...
Words: 3518 - Pages: 15
...Faculty of Business & Society Assignment Cover Sheet | | Module Code: | AF3S27 | | Module Tutors: | Ricky Li | | | | | | | Module Title: | Strategic Management Accounting and Performance Measurement | | | | | | | Submission Date: | Sunday, 11:59pm, 25th November, 2013 | | Return Date: | You work will be returned within 20 working days of the date of submission. | | | | | | | | | | | | Plagiarism Advice:You must not engage in plagiarism when completing your coursework as it is a form of deception. It is deliberately or carelessly passing off another’s written or oral work as yours. If you engage in it, or allow others to copy your work, your work (and theirs) will attract a mark of zero pending investigation. Plagiarism includes copying the words (spoken or written), ideas or research results of another without acknowledging the original of the source. Acknowledging (crediting) a source requires an entry in your bibliography. It also requires proper annotation and applies to both electronic and paper sources. If an allegation of plagiarism is subsequently confirmed under the University’s procedures for dealing with unfair practices in assessments, it will go on your record and will be disclosed to those specifically requesting such information to be given in references for students. Submission:You are required to submit one copy electronically on Blackboard. Please also note any further instructions listed below. Important...
Words: 1185 - Pages: 5
...and Contrast Vision and Mission Statement” INTRODUCTION: “If you fail to plan you plan to fail” this magnificence statement reflects how is important to have a plan whether for your life or your entrepreneurship. Also, if you do not know what you want to get is, you won’t achieve any things; simply in other meaning, properly you will not achieve success by coincidence. Therefore, you have to determine what you want before creating your plan, which will lead us to talk about the mission and vision in order to achieve our goals. Vision Statements and Mission Statements are the inspiring words chosen by successful leaders to clearly and concisely convey the direction of the organization. By crafting a clear mission statement and vision statement, you can powerfully communicate your intentions and motivate your team or organization to realize an attractive and inspiring common vision of the future. Over the last few years, there has been a substantial body of business research leading to the inescapable conclusion that those companies that specifically state where they are going and why do remarkably better than those who do not. Accordingly, organizations that do not take the time to develop missions are often ineffective. This paper describes the nature and importance of organizational vision and mission statements. Guidelines are presented for preparing vision statement and mission statements, with comparing and contrasting between vision and mission statements, supported...
Words: 2488 - Pages: 10
...2.1 Vision and Mission Vision and mission statements summarize strategy of a company in a form that can be communicate and understand easily by management and stockholder. A vision statement should not be confused with mission statement as both statements taking part in two distinctive aspects. As indicated in the strategic management model, vision and mission are indispensable. A vision statement describes as a blueprint of what an organization sees itself to be in the future. Therefore, a vision statement must able to answer the question, “What do we want to become?” because main function of vision statement is to communicate to the stakeholder where the organization desires and aspires to be. Generally an effective vision statement is usually short phrases and concise. Besides, development of a vision statement must be established first prior to the mission statement because vision statement as a cornerstone to form and design an effective mission statement. Thus, manager and employees in an organization should devote valuable inputs and participate to the development of a vision statement, so that they acknowledge and embrace the direction and future that the organization is heading. Furthermore, mission statement declaring an organization’s purpose and reason for being. A mission statement should seek to attempt to answer the question, “What is our business?”. It expressed an organization’s core values, business principles, philosophies, beliefs and attitudes that...
Words: 738 - Pages: 3
...1 Analysis of Vision and Mission Strategy Management Contents 1.ICICI BANK ............................................................................................................................................4 Analysis of Vision: ...............................................................................................................................4 2.BANK OF INDIA.....................................................................................................................................4 Analysis of Mission..............................................................................................................................4 3.CANARA BANK......................................................................................................................................4 Analysis of Vision ................................................................................................................................4 Analysis of Mission..............................................................................................................................4 4.GAIL......................................................................................................................................................5 Analysis of Vision ................................................................................................................................5 5.Infosys................................
Words: 1853 - Pages: 8
...MISSION AND VISION STATEMENTS A vision statement is what companies do to give a full idea of what they want for the company or what direction the company is targeting. It’s a clear structure of what the company wants and why they want what they want. A vision statement is when a company set long term or short term goals. Vision statement is for a company to achieve and accomplish the desired targets of the business. A good vision statement provides structure for the daily operation of the company. The two must important part of a vision statement is what the company wants for the future and it must have excitement and motivation. "Use the company culture description for more details on the goals and direction of the business." Vision statements are future-based and are meant to give inspiration and direction to the employees of the company, not anyone outside the company. Vision statements are formal and can change over time. As a company grows, its objectives and goals most likely will change. Vision statements need to be restructured as needed to compliment the change as goals are on target and met. A couple of questions you might need to ask yourself when writing your vision statement includes the following, what problem does your company want to solve? What does your company wish to achieve? Who is your target consumer, and what do you want to do for them business wise? Vision statements should provide a sense of direction and enlarge...
Words: 757 - Pages: 4
...Q1: Briefly, explain your personal vision and mission. Vision In my vision, I enclosed a picture of myself in the future that I really want to be. My vision is a long term perspective. It’s included all elements related to my life, career and contribution because all of them are beyond important to me. Here’s the Vision Statement I cerates alike: “I must built a simple family with a career and strong financial resources while helping others Muslim brothers who need helps” The three most important things I make priorities which are as follows: * Have a simple family included wife and children. * Have a strengthen economy with a stable career. * Big help towards Islam and other people. Mission In my mission, creating the action goals that should be done in achieve my three visions. First of my vision, I need to learn and be fully prepared before getting a married. Second vision, I have to be fully motivated in getting career’s success. For the last vision, I need the huge resources and knowledge to help other people. Here’s the Mission Statement I cerates alike: “To become the knowledgeable, successful and helpfulness individual by learning from others, motivate myself and contribute to others” Q2: With the use of SWOT analysis, prepare your personal scanning. In-order to identify personal strengths, weaknesses, opportunities, and threats (SWOT) in developing a lifestyle, career and contribution plan, I must do analysis of several factors. Doing a personal...
Words: 589 - Pages: 3
...Mission and Vision Statement Analysis of Patagonia and Columbia Sportswear Patagonia Mission Statement: Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis. Columbia Sportswear Mission Statement: Design and deliver authentic, outdoor, high-value products for active consumers of all ages. Mission Statement Analysis Both Patagonia and Columbia Sportswear principle market sector involves outdoor apparel and equipment. Patagonia’s mission statement does not directly state what their product is but focuses more on the quality and impact of manufacturing on the environment. Based upon Patagonia’s annual report from 2013, the company has gone to endless measures to ensure they maintain their social responsibility as guardians of the environment. “[C]ause no unnecessary harm”, is reflected in one instance in 1996 when the company stopped using traditionally grown cotton in their clothing because of chemicals and pesticides used in growth. In 2001, founder Yvon Chouinard cofounded 1% for the Planet, a collective of organizations dedicating 1% of their sales to support environmental efforts. Patagonia consistently sets the bar for environmental awareness in business and manufacturing practices. As a consumer of their products for close to a decade, I can attest the “[b]uild the best product” is an accurate statement, comparative to other outdoor clothing producers. Even with “build the best product” as their...
Words: 1109 - Pages: 5
...Business Vision and Mission Angela Massa BUS/475 September 26, 2011 * * * * * * Business Vision and Mission A company’s vision and mission statements are the encouraging words put into place by company leaders to clearly convey the objective of the company. A clear mission and vision statement can distinctly communicate the company’s intentions and encourage the organization to carry out a general vision for the future of the company. Even though vision and mission statements are a lot alike, they serve a different purpose for the company. A mission statement describes the company’s function and primary goals while its main purpose is internal. A vision statement communicates both the purpose and values of the organization. Sam’s Club Overview Sam’s Club is a division of Wal-Mart Stores Incorporated and has become an international company that opened its doors in 1983. Sam’s Club requires a membership in order for their customers to purchase bulk products along with many other products at discount prices. Membership costs for a business is $35.00 per year and the cost for family memberships is $40.00 annually. Sam’s Club offers an array of merchandise such as food products you can purchase in bulk, cleaning machinery and supplies, clothes, electronics and basic household items. As a small business, Pankow’s Bar is a Sam’s Club member, and saves money by purchasing cases of potato chips, candy, paper towel and other items such as plastic...
Words: 863 - Pages: 4
...health food stores – Whole Foods and Trader Joe’s. Included in this report will be the similarities and differences of each store and the quality of each store’s mission statement. This account will also determine how the mission statement defines or does not define each organization and how it drives strategic decisions. Contained in this report will be a detailed recommendation to the leadership team to improve the quality of each store’s mission statement. There will also be a discussion of each store’s vision statement, determining if they are both headed in the same direction and why. By analyzing both stores’ mission and vision statements, information will be obtained to show how each store relates to their customers, employees and stakeholders. Both stores present store mottos that express what they will give to their customers. Trader Joe’s motto is “Great Food, Great Prices, Great Choices.” This means Trader Joe’s will give their customers exotic foods, like buffalo burgers and cookie butter, at a remarkable price. Trader Joe’s succeeds in elevating routine grocery shopping to a Tiki-themed cultural adventure (McNeal, p. 41). While, Whole Food’s is intent on giving their customers more than just a supply of foodstuff, because their motto is “Whole Food, Whole People, Whole Planet (www.wholefoodsmarket.com/mission-va). Even though they both have store mottos, they plan to carry out their work in a different way. Trader Joe’s will deal with changing the shopping experience...
Words: 1718 - Pages: 7
