What the vision and mission of any company should entail:
The
Mission statement of a company should describe what the company aims to achieve through its existence. It must define the company’s business, motives and methods.
The mission has to be reevaluated and reexamined on a regular basis to keep the company relevant and dynamic. Reviewing the mission gets an organization back to the basics. (Smallbusinessnotes.com, 2011).
Each member of an organization should be able to verbally express this mission.
Additionally, each employee in the organization needs a mission for his life. The alignment of an employee’s life mission with the organization’s mission is a very important determinant in job satisfaction. If they are incongruent, you employees are most likely dissatisfied with their working environment. (humanresources.about.com, 2011).
The
Vision serves as a structure which guides the business into achieving its goals set in the mission statement. It also functions as a motivator inside the organization. When the vision is vivid and meaningful enough it can inspire employers and employees to do surprising things to bring the mission to realization.
A vision statement answers the question “what impact do we want to have on society?” It creates a sense of organizational purpose, impacting the mindsets of employees to see themselves as “building a cathedral” rather than “laying stones”. (smallbusinessnotes.com, 2011)
It sets practical goals to aim for and can serve as a statement of what the organization wants to become like in the future. All members of the organization should be lead to feel proud, excited and part of something significant. (humanresources.about.com, 2011)
Why a company needs a vision and mission statement:
When a company lacks a vision to which all its employees subscribe, individual visions and missions tend to rise up and compete with each other. The result is conflict, delays, and lost revenues in the organization. (management-issues.com, 2005)
The mission and vision statement brings focus and unity to the organization. The direction of the organization must be thoroughly communicated to all its members.
The mission statement may be one way to influence the public through descriptive words and concepts. A mission statement is often carefully constructed, and the phrases are tailored for maximum meaning. (helium.com, 2011)
The vision statement creates a clear picture for the business owner or organization leader and sets goals which should be achieved. It aids the organization in making objective decisions.
Furthermore it serves as inspiration to employees as it motivates them during their every-day tasks.
It is important to use the vision statement to evaluate how a company and its employees should spend its time. (
ezinearticles.com)
Steps involved in the Strategic Planning Process
1. Agree on a strategic planning process and establish responsibilities for the various steps in the process
2. Develop the Vision, Mission and values of the company. Clearly define specific mandates.
3. Do business and operation analysis (environmental scan, SWOT Analysis etc.). Understand internal Strengths and Weaknesses as well as external Threats and Opportunities. Involve various stakeholders to analyze your business.
4. Identify key issues, questions, and choices to be addressed as part of the strategic planning effort. Specify strategic issues the organization should address and set priorities in terms of importance or time constraints.
5. Establish strategic objectives or goals to use as success measurement in the future. When the strategic options are SMART (Specific, Measurable, Achievable, Realistic and Time-bound), it will help to ease the communication toward the lower level of the organizational hierarchy for implementation.
6. Draft a strategy execution plan and solicit feedback.
7. Develop a strategy execution plan (strategy action plan) that addresses the goals described earlier
8. Establish Resource Allocation. Ensure enough resources are allocated to ensure individuals, teams or departments are not overloaded.
9. Do a progress review. Analyse the organization’s progress with the strategic plan.
10. Evaluate periodically to ensure the organization plan is dynamic and adaptive.
11. Make strategic planning an on-going process by continually re-evaluating the strategic plan. (siteresources.worldbank.org, 2001) (June Campbell, nightcats.com, 2011) (Dr. LM Foong, ezinearticles.com,2011) (CFFBest.org, 2011)
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