Vision, Mission and Values – How can your business benefit from them?
Your vision, mission and values are where your company wants to go and what your company stands for. It is well known that large corporations have their Vision and Mission statement in place, but is it important to smaller companies? The answer is a big “YES”.
Your businesses vision, mission and values are very important to your business plan and direction. Each has a purpose in helping your business succeed and reach new heights of success.
What is a Vision statement?
A vision statement describes what your company wants to achieve in the long term. It represents a vision of what the company will look like in the future.
Key elements of a good vision statement include:
Forward-looking
Motivating and inspirational
Aimed at bringing benefits and improvements to the business
Defines a company’s reasons for existence and the direction it is taking
Here are some examples of Vision Statement from large well-known companies:
Starbucks – "to establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while we grow."
Microsoft – "Empower people through great software anytime, anyplace, and on any device."
Disney - "To make people happy."
What is a Mission Statement?
A mission statement describes what the company needs to do now to achieve their vision. The vision and mission statements must support each other, but the mission statement is more specific. It defines how one business is different from the next in its industry.
Here are some Mission Statement examples from well-known companies:
Starbucks – "To inspire and nurture the human spirit – one person, one cup and one neighbourhood at a time."
Microsoft – "At Microsoft, our mission is to enable people and businesses throughout the world realize their full potential."
Disney – "The Walt Disney Company’s objective is to be one of the world’s leading producers and providers of entertainment and information, using its portfolio of brands to differentiate its content, services, and consumer products."
What are Core Values?
Core values are the deeply ingrained principles and fundamental beliefs that help a business come together as a team or work towards a common goal. It is how a business conducts itself in their business relationships, client relationships and company growth.
Some examples of core values include:
Loyalty
Honesty
Trust
Integrity
Accountability
To be successful your business needs to have purpose and direction, something to stand for and work towards. With strong vision, mission and value you will set your sights on achieving new levels of success.
You can read Inspire Virtual Assistants Vision, Mission and Values here.