Page 32 - 6484

4.1 The Roles of Mission, Vision, and Values
LEARNING OBJECTIVES
1. Be able to define mission and vision.
2. See how values are important for mission and vision.
3. Understand the roles of vision, mission, and values in the P-O-L-C
framework.
Mission, Vision, and Values
Mission and vision both relate to an organization’s purpose and are typically
communicated in some written form. Mission and vision are statements from the
organization that answer questions about who we are, what do we value, and where
we’re going. A study by the consulting firm Bain and Company reports that 90% of
the 500 firms surveyed issue some form of mission and vision
[1]
statements. Moreover, firms with clearly communicated, widely understood, and
collectively shared mission and vision have been shown to perform better than those
without them, with the caveat that they related to effectiveness only when strategy
[2]
and goals and objectives were aligned with them as well.
A mission statement communicates the organization’s reason for being, and
how it aims to serve its key stakeholders. Customers, employees, and investors are
the stakeholders most often emphasized, but other stakeholders like government or
32