The Importance of Vision and Mission Statements

The Importance of Vision and Mission Statements

            Vision statement declares a company’s aspirations for the future. It spells out the high-level goals of a company – what it intends to be and achieve in the future (Kotelnikov, 2008). On the other hand, a mission statement must define what a company does, how it works, and who its clients are (Ebben, 2008). Mission statements should tell employees what product or service they give clients, the technical and service elements involved, and their target demographic. In brief, a vision statement is the company’s ideal status for itself, while the mission statement is the company’s business plan or strategy to reach such position.

Need essay sample on "The Importance of Vision and Mission Statements" ? We will write a custom essay sample specifically for you for only $12.90/page

Vision and mission statements are important for companies such as CanGo because they help shape the direction of the company’s future. They energize and benefit CanGo employees by allowing them to feel like they are part of something bigger than themselves or just their work. Watson Wyatt Work Study found out those employees who place themselves in league with company mission and goals enjoy 29 percent greater returns than other employees (cited in Heathfield, 2008). Ethical, competitive, business-minded and forward-thinking vision goals are congruent with employees’ own goals. They agree with individuals’ personal growth and direction and thus, promote the idea to employees to work harder and better. They can also make them feel their work is worthwhile. Further, awareness of the CanGo vision and mission can also help employees immediately develop strategies that will enable them to reach company goals. Thus, CanGo’s business status will improve as well.

Living the company motto, the actual practice of the company mission and vision is the essential second step. It is only a waste of time, talent, and resources for company to publish its mission and vision statement if they are used for nothing (Kotelnikov, 2008). All employees, especially those on higher positions, should serve as role models and always communicate the company vision and mission in their words and actions. The value of CanGo’s having vision and mission statements depend on whether the employees will practice them or not.

References

Kotelnikov, V. (2008). Corporate vision, mission, goals and strategies. Business E-coach. Retrieved December 10, 2008 from http://www.1000ventures.com/business_guide/crosscuttings/vision_mission_strategy.html

Heathfield, S. M. (2008). Build a strategic framework: Mission statement, values. About.com Retrieved December 10, 2008 from http://humanresources.about.com/cs/strategicplanning1/a/strategicplan.htm

Ebben, J. (2008). Developing effective vision and mission statements. INC: The Daily Resource for Entrepreneurs. Retrieved December 10, 2008 from http://www.inc.com/resources/startup/articles/20050201/missionstatement.html

 

Haven't found the Essay You Want?

Get your custom essay sample

For Only $13/page