If you don’t know where you’re going, how will you get there?
Every great leader starts by defining the goals and core values of their team. An organization’s culture is shaped by thinking about its Mission, Vision and values. Every leader must take the time to do this!
Vision is the strategic direction of a business owner or senior leader. It is considered the ultimate goal. It captures the essence of success, which is stable over time. And a profound driving force for the organization at all levels.
A mission is a realistic, credible, and compelling description of your organization at its ideal level. It is a carefully constructed statement of direction that defines why the business exists. How businesses will maintain and increase competitive advantage. As well as how the business treats other businesses and the people it comes into contact with.
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Why is Vision needed?
- Businesses cannot go further than the Business Owner’s vision
- If you don’t have a vision, you will have to buy someone else’s vision
- And conversely, you can absolutely sell the vision!
- Sell to whom?
- Sell for yourself, so you have the motivation to grow your business every day. And a secret to the law of attraction is that you will attract what you desire!
- Sell to customers, so they become your raving fans!
- Sell to your team, attract and retain talented people with similar values, and bring your business to your vision!
- Sell to shareholders, attract investors to you!
- As a Business Owner, you will attract many great things to you if you have a great vision.
What is the vision?
The definition of vision is very simple, it is a description of the position your business wants to achieve in the future. It is a source of inspiration and motivation.
In the simplest terms, vision is the answer to a question. “Where does your business want to go? What is your business target? Where do you want your business to be in 5, 10, 15, 50 years from now?…”.
The important role of the vision statement is the driving force for business development. Therefore, to create an inspirational vision statement, businesses need to pay attention to 3 factors:
- Purpose (ie the reason for the business’s existence): A true purpose is a customer-oriented purpose. People who will use the business’s products or services.
- Future orientation: Is a picture of the destination that the business will achieve.
- Business values: what values are needed to support the business in reaching its destination. For example: reliability, accuracy, quality, integrity, excellence, cooperation, efficiency…
What is the mission?
If Vision focuses on the future, Mission is a statement for the present. Understand simply. Mission is the answer to questions. “What is your business doing? Who does your business serve? How does your business do that and why does it need to do that? A business’s Mission Statement reflects all aspects of that business. Including from employees, customers, partners, products/services to quality…
If the business owner understands and clearly defines the two statements Vision and Mission. This will determine the correct comprehensive path for both the current and future development strategy of the business.
Questions to ask yourself to determine whether your company’s Mission is strong enough or not:
- Is the mission future-oriented?
- Is the mission likely to lead to a better future for the organization?
- Is the mission consistent with the organization’s values?
- Does the mission set standards of excellence?
- Does the mission clarify purpose and direction?
- Does the mission arouse enthusiasm and encourage commitment?
- Does the mission set the company apart from its competitors?
- Is the mission ambitious enough?
- Are you excited about the Mission?
The Difference Between Vision and Mission
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| Vision | Mission | |
| Define | A Vision statement clearly states where you want to go. Communicate both the purpose and values of your business. Visibility is the location of the mountain top | A Mission Statement is about how you will get to where you want to go. Identify your purpose and key objectives related to customer needs and your team’s values. Mission is the path to the top of the mountain |
| Time | Focused vision of the future | Mission focuses on the present |
| Answer the question | Where are we headed? | What we do? What makes us different? |
| Function | It shows where you stand in the future. Why do you do this job? It inspires you to give your best. | The function looks inward, determining the measure of business success. The main objects of the organization’s mission are the board of directors, shareholders, and personnel |
| Build a statement | Answers to the questions: Where do we want to go? When do we want to achieve? and How do we want to do it? | Answer the questions: Who are we? What are we doing? Who do we do it for? What are the benefits? In other words, Why do we do what we do? What, For Whom and Why? |
| Factors that make an effective statement | Clear, portrays a bright future; emotionally strong, memorable and engaging; Realistic, achievable aspirations | The organization’s purpose and values: Who are the organization’s main customers? What are the organization’s responsibilities to customers? |
Between Vision and Mission, which one should be done first?
Depending on the type of business, the choice of which statement to make first will be different. Accordingly:
- For newly established businesses: Build a vision first to guide the mission. And help businesses follow the planned path.
- For established businesses: The mission already exists, so the vision will be guided by the mission. From there, implement business strategies for the future.
Steps to build Vision and Mission
Take some quiet time. And answer the questions below to gradually build the Vision and Mission for your business
Step 1
What does your product or service bring to your customers? (How does it meet their needs, solve their pain, or help them reach their goals?)
Step 2
Who do you offer your products or services to? Be specific. (Example: Geography, Age, Gender, Income Level, etc.)
Step 3
What is the driving force behind your business and how is it positioned in the market? Prioritize the following:
- Marketing methods
- Market served (meets certain needs)
- Technology advantage
- Low cost
- Operational capacity (e.g. fast delivery)
- Delivery method (Internet? In person? etc.)
- Profit
Once completed, check the three MOST IMPORTANT items according to your priority.
Step 4
How do you differentiate yourself from your competitors in your product or service offering? (Examples: Technology driven; Marketing (“low-cost supplier”, “innovative solutions”, etc.); Manufacturing/Distribution (partnerships, ease of delivery, warehousing )
Step 5
Describe the type of relationship you would like to have with:
- Your customer
- Your suppliers
- Your shareholders
- Your competitors
- Your community
- Your staff
Step 6
If a reputable organization honors your company as “Company of the Year”. In the introduction, what do you want them to write about you?
Step 7
What important needs are your services meeting in:
- Community
- Market
- Region
- World
Step 8
You wish to change the history of (tick all that will be included in your mission)
- Community
- Market
- Regions
- World
- Other
Step 9
Now write down your Mission statement, including your activities, current status, and desired achievements.
Step 10
Now write down your Vision statement (this is your 10 year goal and combines the best of the items discussed above)
Example of Vision
Visibility is quantified
- Wal-Mart (1990) – Became a $125 billion company by 2000.
- Ford Motor Company (early 1900s) – Popularization of the automobile.
- Sony (early 1950s) – Became the company best known for changing the poor worldwide image of Japanese products.
- Citibank, predecessor of Citicorp (1915) – Became the most influential, best-serving world financial institution ever.
- Boeing (1950) – Became the dominant player in commercial aircraft and brought the world into the jet age.
The vision has images comparing fighting with giants
- Philip Morris (1950s) – Displaced R/R as the number one tobacco company in the world.
- Nike (1960s) – Crushed Adidas.
- Honda (1970s) – We will destroy Yamaha.
Demonstrates a role model appropriate for emerging organizations
- Giro Sport Design (1986) – Became the Nike of the cycling industry.
- Watkins-Johnson (1996) – Became as respected in 20 years as Hewlett-Packard is today.
- Stanford University (1940s) – Became the Harvard of the West.
International orientation of large organizations
- General Electric Company (1980s) – Became number one or number two in every market we served and revolutionized the company to have the strengths of a large company combined with leanness and The agility of a small company.
- Rockwell (1995) – Transformed the company from a defense contractor into the most highly diversified technology company in the world.
- Components support department of a computer products company (1989). Transform this department from a less-than-reputable internal product supplier to one of the most respected, exciting, and sought-after departments in the company.
Mission Example
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- 3M – To creatively solve unsolved problems
- Cagill – To raise living standards worldwide
- Fannie Mae – Strengthening the fabric of society by continuously democratizing home ownership
- Hewlett Packard – Technical contributions to the progress and welfare of humanity
- Lost Arrow Corporation – To be a role model and a tool for social change
- May Kay Cosmetics – To give unlimited opportunities to women
- Merk – To preserve and improve human life
- Nike – To experience the feeling of winning in competition and crushing your opponents
- Sony – To experience the joy of progress and the application of technology for the benefit of the public
- Telecare Joint Stock Company – To help people with mental impairments and reach their full potential
- Wal-Mart – So that ordinary people have the opportunity to buy the same things as rich people
- Disney – To make people happy
- Apexcorp – Helping customers be more successful
Summary
Master Nguyen Phong Phu shared scientific methods to help you build a vision and mission for your business. If your business needs training in strategy building and business implementation, please contact Apexcorp immediately.
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