examples of mission and vision statements

 To understand better what are mission and vision statements, it is good to see examples of mission and vision statements. As I already said every company, does not matter its size, have mission and vision statements. Now let`s take example of coca-cola mission and vision statements.

Their page is named Mission, Vision & Values :

"The world is changing all around us. To continue to thrive as a business over the next ten years and beyond, we must look ahead, understand the trends and forces that will shape our business in the future and move swiftly to prepare for what's to come. We must get ready for tomorrow today. That's what our 2020 Vision is all about. It creates a long-term destination for our business and provides us with a "Roadmap" for winning together with our bottling partners.

Our Mission

Our Roadmap starts with our mission, which is enduring. It declares our purpose as a company and serves as the standard against which we weigh our actions and decisions.

• To refresh the world...
• To inspire moments of optimism and happiness...
• To create value and make a difference.

Our Vision

Our vision serves as the framework for our Roadmap and guides every aspect of our business by describing what we need to accomplish in order to continue achieving sustainable, quality growth.

• People: Be a great place to work where people are inspired to be the best they can be.
• Portfolio: Bring to the world a portfolio of quality beverage brands that anticipate and satisfy people's desires and needs.
• Partners: Nurture a winning network of customers and suppliers, together we create mutual, enduring value.
• Planet: Be a responsible citizen that makes a difference by helping build and support sustainable communities.
• Profit: Maximize long-term return to shareowners while being mindful of our overall responsibilities.
• Productivity: Be a highly effective, lean and fast-moving organization.

Our Winning Culture

Our Winning Culture defines the attitudes and behaviors that will be required of us to make our 2020 Vision a reality.

Live Our Values

Our values serve as a compass for our actions and describe how we behave in the world.

• Leadership: The courage to shape a better future
• Collaboration: Leverage collective genius
• Integrity: Be real
• Accountability: If it is to be, it's up to me
• Passion: Committed in heart and mind
• Diversity: As inclusive as our brands
• Quality: What we do, we do well

Focus on the Market

• Focus on needs of our consumers, customers and franchise partners
• Get out into the market and listen, observe and learn
• Possess a world view
• Focus on execution in the marketplace every day
• Be insatiably curious

Work Smart

• Act with urgency
• Remain responsive to change
• Have the courage to change course when needed
• Remain constructively discontent
• Work efficiently

Act Like Owners

• Be accountable for our actions and inactions
• Steward system assets and focus on building value
• Reward our people for taking risks and finding better ways to solve problems
• Learn from our outcomes -- what worked and what didn’t

Be the Brand

• Inspire creativity, passion, optimism and fun"

http://www.coca-colacompany.com/our-company/mission-vision-values

Setting mission statements

 According to strategic management expert Vern McGinnis, there are seven key functions of an effective mission statement:
1. Defines what the organizations is
2. Outlines what the organization aspires to be (in line with its vision statement)
3. Limited enough to exclude certain ventures
4. Broad enough to allow for growth in a creative or innovative way
5. Distinguishes the organization from others
6. Serves to evaluate current business activities
7. Phrased clearly so that it is understood by all.

Mission and Vision statements - Limitations

 Despite the advantages of vision and mission statements, there are some limitations. Critics argue that such statements are no more than a public relations stunt. After all, the ultimate purpose of most businesses, they argue, is to maximize profits. Constructing vision and mission statements can also be very time consuming; it is very difficult to draft a statement that caters for all the dynamics of a business. Even the best thought-out statements may not be supported by all stakeholders, such as staff on part-time or temporary contracts. In such cases, it can be a lengthy process to convert people`s beliefs and behaviour.

Mission and Vision Statements - Main Differences

 Although mission and vision statements are quite often confused, they do serve complementary purposes. The main differences are :

• The vision statement addresses the question "what do we want to become?" whereas the mission statement deals with the question "what is our business?"
• Vision statements are focused on the very long run, whereas mission statements can focus on the medium or long term.
• Hence, mission statements are updated more frequently than vision statements.
• Vision statements do not have to be actual targets that must be realized (this is the purpose of setting mission statements). Instead, vision statements allow people to see what could be.
• The mission statement tends to outline or highlight the values of the business, i.e its beliefs and guiding principles. This sets the framework for how managers and employees behave on a day to day basis.

What is Mission Statement ?

 Having a mission means to have a clear purpose. A mission statement tends to be a simple declaration of the underlying purpose of an organization`s existence and its core values. For example, a school might set its mission as "provision of achievement for all students ". Unlike objectives, the mission statement does not have a distinct time frame and tends to be qualitative rather than quantitative. A well-produced mission statement is clearly defined and realistically achievable. It should provide a sense of direction, guide decision making and unify all people and corporate cultures within the organization in its attempt to achieve the overall vision.

What is Vision Statement ?

 Every business, it does not matter it`s huge business, old or newly created, has it`s own vision and mission statement. In this post I want to talk about Vision Statement, Describe what is vision statement and why is it so important.
 Having vision means to have an image of an ideal situation in the future. A vision statement therefore outlines a business`s aspirations (where it wants to be) in the distant future. For example, "To be the leading sports brand in the world" is the vision of Adidas, the German sportswear and sports equipment giant.

 Vision statements also tend to relate to the attainment of success, i.e visualization of what success would look like. Martin Luther King Junior`s famous "I have a dream" speech shows how having a clear vision can bring about radial change in the future.

 In next topic I want to talk about Mission Statement and its importance.