Lesson 1: Vision and Mission Statements

Novus Business and IT Training Program

Vision and Mission Statements

Training Objective: To understand vision and mission statements, understand their role in strategy, and learn how to create strong, effective statements.

2Novus Business and IT Training Program

Introduction

3Novus Business and IT Training Program

Introduction

• Vision Statement = dream• Mission Statement = purpose

• Importance– Basis of strategy– Provide financial & emotional benefits

4Novus Business and IT Training Program

Vision Statement

• Contains:– Company’s dream for future– Ambition– Clarity

Can, but does not have to, contain something about a social issue.

5Novus Business and IT Training Program

Vision Statement Examples

• Democratize the automobile• We will destroy Yamaha• Become the company most known

for changing the worldwide poor quality image of Japanese electronics

6Novus Business and IT Training Program

More Examples

• Become the dominant player in commercial aircraft and bring the world into the jet age

• To be the company that best understands and satisfies the product, service and self-fulfillment needs of women – globally

7Novus Business and IT Training Program

Creating a Vision Statement

What you should do:1. Have conversations2. Have insight3. Include peopleWhat is should be:• About the future• Inspiring• A definition of your business• Only one sentence

8Novus Business and IT Training Program

Vision Statement Mistakes

• De-motivating• Staff is not involved• Too long• Not unique

9Novus Business and IT Training Program

Mission Statement

• Contains– Company’s purpose– Values (optional)– Description of customers (optional)

While a vision talks about the future, a mission tells us why the company exists.

10Novus Business and IT Training Program

Mission Statement Examples

• Coca Cola– To refresh the world...– To inspire moments of optimism and happiness...– To create value and make a difference.

• Pizza Hut– We take pride in making a perfect pizza and

providing courteous and helpful service on time all the time. Every customer says, "I'll be back!" We are the employer of choice offering team members opportunities for growth, advancement, and rewarding careers in a fun, safe working environment.

11Novus Business and IT Training Program

More Examples

• McDonald’s– To provide the fast food customer food prepared

in the same high-quality manner world-wide that is tasty, reasonably-priced & delivered consistently in a low-key décor and friendly atmosphere.

• Marriott Hotels– To provide economy and quality minded travelers

with a premier, moderate priced lodging facility which is consistently perceived as clean, comfortable, well-maintained, and attractive, staffed by friendly, attentive and efficient people.

12Novus Business and IT Training Program

Creating a Mission Statement

• Ask:– Who is your target customer?– What product/service do you provide?– What makes your product/service unique?

• Make it exciting• Think about your customers• Include what is important to you• Don’t make it long• Review

13Novus Business and IT Training Program

Mission Statement Mistakes

• Too long• Boring• Too general• Not clear• Ubelievable

14Novus Business and IT Training Program

Mission Statement Misuse

• Poorly written missions• Not achieving mission’s goals• Not understanding the mission• Approving bad statements• Mission does not influence• Staff not involved• Writing for the wrong reasons

15Novus Business and IT Training Program

Using Mission Statements

• Avoid the noted mistakes and misuses

• Involve various stakeholders

• Match organizational structure to the mission

• Write a satisfying mission