Lecturer: Imran Zafar

Mission Statement
A mission statement is a statement of the purpose of a company, organization or person,
its reason for existing.
The mission statement should guide the actions of the organization, spell out its overall
goal, provide a path, and guide decision-making. It provides "the framework or context
within which the company's strategies are formulated." It's like a goal for what the
company wants to do for the world.
Contents
Effective mission statements start by cogently articulating the organization's purpose of
existence.
Mission statements often include the following information:

Aim(s) of the organization

The organization's primary
congregation, etc.

stakeholders:

clients/customers,

shareholders,

How the organization provides value to these stakeholders, for example by offering
specific types of products and/or services

A declaration of an organization's sole core purpose. A mission statement answers

the question, "Why do we exist?"

According to Bart, the commercial mission statement consists of 3 essential components:

1. Key market who is your target client/customer? (generalize if needed)
2. Contribution what product or service do you provide to that client?
3. Distinction what makes your product or service unique, so that the client would
choose you?
Examples of mission statements that clearly include the 3 essential components:
For example:

McDonald's - "To provide the fast food customer food prepared in the same highquality manner world-wide that has consistent taste, serving time, and price in a lowkey dcor and friendly atmosphere."[citation needed]

Key Market: The fast food customer world-wide

Contribution: consistent taste and reasonably-priced food prepared in a

high-quality manner

Lecturer: Imran Zafar

Distinction: delivered consistently (world-wide) in a low-key dcor and

friendly atmosphere.

Courtyard by Marriott - "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"

Key Market: economy and quality minded travelers

Contribution: moderate priced lodging

Distinction: consistently perceived as clean, comfortable, well-maintained,

and attractive, staffed by friendly, attentive and efficient people

The mission statement can be used to resolve trade-offs between different

business stakeholders. Stakeholders include: managers & executives, non-management
employees, shareholders, board of directors, customers, suppliers, distributors,
creditors/bankers, governments (local, state, federal, etc.), labour unions,
competitors, NGOs, and the community or general public. By definition, stakeholders
affect or are affected by the organization's decisions and activities.
According to Vern McGinnis , a mission should:

Define what the company is

Be limited to exclude some ventures

Be broad enough to allow for creative growth

Distinguish the company from all others

Serve as framework to evaluate current activities

Be stated clearly so that it is understood by all

Best Examples of a Vision Statement

A vision statement for a company or organization focuses on the potential inherent in the
company's future, or what they intend to be. While a vision statement might contain references to
how the company intends to make that future into a reality, the how is really part of a
"mission" statement, while the vision statement is simply a description of the what, meaning,
what the company intends to become.
Vision Statements: Reviews and Ideas

Lecturer: Imran Zafar

To find the best examples of vision statements, consider these statements made by some of the
world's most innovative and successful companies:
Online Retailer
We intend to provide our customers with the best online shopping experience from beginning to
end, with a smart, searchable website, easy-to-follow instructions, clear and secure payment
methods, and fast, quality delivery.
From this statement example, you can clearly tell that this company is an online retailer. You can
also tell they have put thought into the statement by making a list of goals. They don't simply say
that they want to be the best online shopping site they give a list of ways in which they
intend to do that. This is a quality vision statement because it outlines the specific future they
intend to create for themselves, but it doesn't give specific steps on how they will do it (better
saved for a mission statement).
Hair Salon
Our salon will change the way you think about a haircut. Full service comfort, friendly staff, a
relaxing atmosphere, and the best prices in town give you an experience that will leave you
glowing both inside and out.
Once again, it's clear from this vision statement what type of business is behind it. It's also a
good, clear list of goals, without being too specific.It paints an overall picture of a pleasant,
successful business that the company hopes to become, and since the vision statement isn't just a
vision of your future it's also a vision you're presenting to your customers about who you are
it's important that it do just that.
Apple Computer
"We believe that we are on the face of the earth to make great products and that's not changing.
We are constantly focusing on innovating. We believe in the simple not the complex. We believe
that we need to own and control the primary technologies behind the products that we make, and
participate only in markets where we can make a significant contribution. We believe in saying
no to thousands of projects, so that we can really focus on the few that are truly important and
meaningful to us. We believe in deep collaboration and cross-pollination of our groups, which
allow us to innovate in a way that others cannot. And frankly, we don't settle for anything less
than excellence in every group in the company, and we have the self-honesty to admit when
we're wrong and the courage to change. And I think regardless of who is in what job those values
are so embedded in this company that Apple will do extremely well."- Tim Cook, CEO of Apple
Computer (Quoted on CNN Money.com).
PepsiCo
"PepsiCo's responsibility is to continually improve all aspects of the world in which we operate environment, social, economic - creating a better tomorrow than today. Our vision is put into
action through programs and a focus on environmental stewardship, activities to benefit society,

Lecturer: Imran Zafar

and a commitment to build shareholder value by making PepsiCo a truly sustainable company."
(Quoted from Pepsi Co.com.)
Amazon
"Our [Amazon's] vision is to be earth's most customer centric company; to build a place where
people can come to find and discover anything they might want to buy online." (Quoted
from Amazon.com)
Short Vision Statements
Sometimes a vision statement can be summarized in one sentence.
Examples include:
To help people be healthy,
To have our product in every home in the United States,
To help people enjoy life, or offer an affordable solution to health care.
Local companies might aspire to be the best company in the town or to offer locally grown
produce. A restaurant may have this vision statement: To offer fresh and delicious food to our
customers along with a fun-filled dining experience.

Long Vision Statements

Vision statements may also be longer as well.
Some examples include:
As we move towards our goal of being a world-class university, we will support research
on a global scale. Locally, our campus will service the research needs of the learning
community, granting access to many informational resources.

The XYZ Company will inspire its employees to be the best they can be. We will engage
in sustainable practices and anticipate the needs of our customers. We will maximize return
to the stockholders while still maintaining quality in our products.

Our vision is to bring our students into the 21st century through innovation and modern
technology. Learning will be enhanced with computer software and educational games that
will allow students to proceed at their own rate according to their ability.
In each of these examples, the vision statement helps to define goals, creating something to work
towards in the future.

Writing a Good Vision Statement

Looking at these vision statement examples should give you a good jumping off point for
knowing what a vision statement is and how to write one. Vision statements are a challenge for
many people because they aren't sure what form the statement is supposed to take.

A typical corporate or company vision statement will be brief and succinct; it will say a
lot in just a few words, so those words must be very carefully chosen.

Lecturer: Imran Zafar

The key to a good vision statement is to think of things in a long-term, broad sense,
without sounding generic.

If you're too specific, you will limit your vision and it won't be applicable ten years down
the road: for example, if your current goal for your business is to move into a larger
building, that's a vision for the future but it's not the vision for the future of your entire
business. It's too narrow in focus.

On the other hand, if you say that you want to achieve success well, any business in the
world could say that. It's too generic. The best statement will be clear about who you are as a
company as well as who you wish to become.
Writing a good vision statement isn't difficult. Think about what your business does and what, in
an ideal world, you would like it to do and how you would like to appear to the outside
world.Consider the services and attributes that your company provides, then imagine how it
would be if you provided the very best version of them possible. List those visions, and
incorporate them into a brief statement that gives a good overview of the kind of image you want
to represent.

Understanding your goals and being able to state them clearly is the first step toward making
them happen.

Comparison Between Mission and Vision Statement

Companies summarize their goals and objectives in Mission and Vision statements. Both
these things serve different purposes for the company but are often confused with each
other. While a mission statement describes what the company wants now, the vision
statement describes what the company wants to be in the future.
Comparison chart
Mission Statement

Vision Statement

About

A Mission statement talks about HOW you A Vision statement outlines WHERE
will get to where you want to be. Defines you want to be. Communicates both the
the purpose and primary objectives related purpose and values of your business.
to your customer needs and team values.

Answer

It answers the question, What do we do? It answers the question, Where do we

What makes us different?
aim to be?

Time

A mission statement talks about the present A vision statement talks about your

Lecturer: Imran Zafar

Mission Statement

Vision Statement

leading to its future.

future.

Function

It lists the broad goals for which the

organization is formed. 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.

It lists where you see yourself some

years from now. It inspires you to give
your best. It shapes your understanding
of why you are working here.

Change

Your mission statement may change, but it As your organization evolves, you
should still tie back to your core values, might feel tempted to change your
customer needs and vision.
vision. However, mission or vision
statements explain your organization's
foundation, so change should be kept to
a minimum.

What do we do today? For whom do we do Where do we want to be going

Developing a it? What is the benefit? In other words, forward? When do we want to reach
statement
Why we do what we do? What, For Whom that stage? How do we want to do it?
and Why?
Purpose and values of the organization:
Who are the organization's primary
Features
of
"clients" (stakeholders)? What are the
an effective
responsibilities of the organization towards
statement
the clients?

Clarity and lack of ambiguity:

Describing a bright future (hope);
Memorable and engaging expression;
realistic
aspirations,
achievable;
alignment with organizational values
and culture.

Lecturer: Imran Zafar

Vision Statement of the Toronto Zoo

About
A Mission statement talks about what the company is now. It concentrates on present; it
defines the customer(s), critical processes and it informs you about the desired level of
performance.
A Vision statement outlines what a company wants to be. It concentrates on the future; it is a
source of inspiration; it provides clear decision-making criteria.
Purpose
A mission statement is spelled out to narrate what the organization is about. It talks about
what the company is right now. It lists the broad goals for which the company is formed. It
discusses in details what the company does, what the structure is and what its plans are. A
vision statement talks about what the company wants to be. It describes what the "vision" of
the company is for its future. It lists where the company sees itself some years from now.
Features
Features of an effective vision statement include:

Clarity and lack of ambiguity

Paint a vivid and clear picture, not ambiguous

Describing a bright future (hope)

Memorable and engaging expression

Realistic aspirations, achievable

Lecturer: Imran Zafar

Alignment with organizational values and culture

Time bound if it talks of achieving any goal or objective

Features of an effective mission statement are:

Purpose and values of the organization

What business the organization wants to be in (products or services, market) or who are
the organization's primary "clients" (stakeholders)

What are the responsibilities of the organization towards these "clients"

What are the main objectives that support the company in accomplishing its mission
This Slideshare presentation includes the vision and mission statements of companies in the
Fortune 100:
Visions & Missions of Fortune Global 100 by Alar Kolk
Time frame
While a mission statement talks about the present, the vision statement talks about the
future. The former mentions what the company is now while the latter describes what the
company wants to become in the future. A vision statement mentions what the future will
look like for the company if it follows the mission statement.
Developing a statement
When developing a mission statement, it should be seen that the following questions are
answered:

What do we do today?
For whom do we do it?

What is the benefit?

When developing a vision statement, it should be seen that the following questions are
answered:

What do we want to do going forward?

When do we want to do it?

How do we want to do it?

Which comes first?

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Lecturer: Imran Zafar

For a new start up business, new program or plan to re-engineer your current services, the
vision statement will be formulated first as it will guide the mission statement and the rest of
the strategic plan.
For an established business where the mission is established, often the mission guides the
vision statement and the rest of the strategic plan for the future.

An objective statement is an explanation of company goals, including what

the company would like to achieve and the overall ideals of the organization.
Objective statements can vary in length and detail depending on the
complexity of the company's goals. Organizations can set objectives to
improve customer service, enhance worker productivity and increase profits.
Each objective statement should include information about how the company
plans to achieve business goals

Goals
Objective statements should ultimately identify company goals. They should
also include a statement of purpose and an explanation of how the company
plans to achieve the stated goals. For example, if the goal of an organization
is to improve customer retention, the objective statement could read "to
improve customer retention 20 percent by implementing a customer loyalty
program and extending customer service hours." This objective statement
includes the organization's goal as well as what steps the company will take
to achieve the goal.
Business Strategy
An objective statement should include a business strategy. A business
strategy is a specific plan of action to accomplish a goal. The strategy should
describe how the company intends to meet the objective. For example, if the
company would like to expand a product line, the objective should identify
various strategies to make that happen, such as "Spend time each month
identifying new products" or "Attend new product presentations from current
suppliers."

What Information Should Be on a Mission Statement?

Measurable Information
Company objectives should be measurable. Therefore, objective statements
should include how the company will measure the outcome of the goal. This
is typically achieved by including a statement about where the company is
currently and where the company would like to be. For instance, if the
company would like to decrease employee turnover, the statement would
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Lecturer: Imran Zafar

include current retention rates as well as desired retention rates. For

example, this part of the statement could read "To decrease employee
turnover from 25 percent to 15 percent within the next 12 months." By
including quantifiable information, the organization can effectively measure
the objective's outcome.
Skills and Strengths
An objective statement should indicate the skills, strengths and areas of
expertise of the company. For instance, if the organization currently holds 50
percent market share and a trusted brand, the objective statement should
include information about these strengths. An example of this would be "to
build upon our brand image to improve customer relations." The objective
statement should also include information regarding the organization's
reputation if it is known for providing exemplary customer service.

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