What is their role in your business?
Strategic planning is a key function of an organization’s management that helps to set priorities, allocate resources, and ensure that everyone is working towards common goals and objectives. However, for strategic planning to be effective, there are two important tools that are needed – a vision and a mission statements. These serve as a guide for creating objectives and goals in the organization, thus providing a road-map that is to be followed by everyone.
Unfortunately, despite the importance of vision and mission statements, many organizations do not have them. In other cases, the two statements are lumped together as one or used interchangeably despite their distinctive differences. This creates a confusion in the organization that makes it harder to achieve the set objectives and goals.
In this article, we will take a look at both of these statements, the differences between each one of them, and the important roles they play in an organization.
A vision statement is used to describe the future state of the organization, i.e., what the organization hopes to become in the future. It is, therefore, a long-term goal provides direction for the organization. It also communicates the purpose of the organization to the employees and other stakeholders and provides them with the inspiration to achieve that purpose.
A mission statement describes the current state of an organization and its primary goals or objectives. It provides detailed information about what the organization does, how it does it, and who it does it for. Unlike the vision statement, it is short-term in nature. However, it is related to the vision statement in that it outlines the primary goals that will help to achieve the future the organization desires (i.e, the vision).
Both the vision and mission statements play an important role in the organization. Below is a look at these roles:
The mission and vision statements are very important and they can best be described as a compass and destination of the organization respectively. Therefore, every organization should develop clear vision and mission statements, as not doing so would be like going on a journey without knowing the direction you are to follow or the destination.
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