How a company can set a great Vision, Mission and Goals?

1. Vision
An organisation’s vision answers the questions of what an organisation does and why it does it. It describes where the organisation wants to be in the future and offers a set of priorities and ideals. It is a guiding concept that contains aspirations and does not include the specifics of how the organisation will achieve this state.

2. Mission
The mission captures its fundamental purpose or reason for operating and explains how the organisation will achieve its vision. The organisation’s mission should focus on underlying or basic customer needs and how these needs are being met. The mission should not describe the organisation’s current offerings of particular products and services as change and innovation may make particular products and services redundant. An organisation’s mission and vision should complement each other.

3. Values
Values support the mission by guiding behaviour, positioning ethical conduct and the organisation’s management and leadership philosophy. They are the guiding principles that direct and prioritise goals and help managers to make trade-off decisions about the organisation’s direction when faced with competing interests.

4. Goals
An organisation’s goals are specific outcomes the organisation seeks so it can achieve its mission. People work most effectively when they focus on a well-defined goal. Goals are valuable tools to improve employee motivation and gain support for achieving tasks. The most useful and achievable goals are those that have SMART characteristics, that is, they are:

  • specific
  • measurable
  • achievable
  • relevant
  • timely.

Please watch the summary video by our expert Chris.