What you are doing wrong when it comes to defining your culture.
It is easy to use the terms’ mission statement’ and ‘vision statement’ interchangeably, but the reality is that they are different even though they share similarities. Imagine going on a big road trip to somewhere you’ve always dreamed of going, the vision statement is the destination, and the mission statement is like the journey or how you will get there. Let me expound, a vision statement is a 5–10-year projection of where you want your company to be, and the mission statement is what you are doing right now to achieve that desired goal. Let’s dive into how we can differentiate a mission statement from a vision statement and discuss why this is relevant to helping your company grow and expand.
First, let’s talk about a vision statement or the destination of your journey. A vision statement entails what an organization strives to become or what your company wants to be when it grows up. So, what makes a good vision statement? Vision statements are typically short, simple, and to the point. They are specific and illustrate the ambitions of a company. Here are a few examples of vision statements:
Netflix: ‘Becoming the world’s best global entertainment distribution service.’
Kate Spade New York: ‘Strongly rooted in optimistic feminists, joy, and style.’
St. Jude’s: “St. Jude has the obligation and the ability to help children around the world.”
Vision statements project your company’s goal within the next 5-10 years. You want to produce employees who are committed to your values and your company’s growth, which are clarified by your vision statement. It is important to remember that a vision statement is a future-oriented goal or statement. As this becomes the focus of your company, your employees will buy into those goals. A clear and concise vision statement inspires your employees or customers to buy in to your product.
A word of caution to avoid confusing a vision statement with a company slogan. I bet you’re thinking, hold the phone, I thought I only had to see the difference between vision statement and mission statements. While that is still true, we need to ensure not to confuse a slogan and a vision statement as they share various commonalities. Let’s list a few slogans that we all know and love:
McDonald’s: “I’m Lovin’ It”
Nike: “Just Do It”
AllState: “You’re in Good Hands”
Slogans are even shorter than a vision statement, and the critical difference between a vision statement and a slogan is that a slogan lacks an emotional connection. A slogan is just an advertising tactic targeted at the general public. In contrast, a vision statement targets an investor or supplier. For example, if I was going to go out and buy a pair of running shoes, a slogan might reel me into buying a specific pair over another. A supplier, like Costco or Kohl’s, would investigate the difference between supplying Nike or Adidas and look at the vision statement to decide if their vision and values align with Costco’s. Your company’s values are a crucial element to whether your targeted audience will buy your product or service.
Mission statements outline the values or how you want to achieve your vision goal. A mission statement is what your customer should expect from your brand or company. Think of the mission statement as what you will do right now to achieve your overarching vision statement. So, what makes a good mission statement? Here are a few examples of a mission statement.
Tesla: ‘We’re building a world powered by solar energy, running on batteries and transported by electric vehicles.’
Uber: ‘We are a tech company that connects the physical and digital worlds to move to happen at the tap of a button.”
Walmart: “We aim to build a better world by helping people live better and renew the planet while building thriving, resilient communities.’
Mission statements are longer and outline specific techniques these companies are practicing to achieve their vision statement. Mission statements drive the day-to-day goals of the operation. They are laser-focused on the vision statement, and it is common to state your business strategy in the mission statement. These practices for growth highly influence your market because it is a demonstration of your company’s values.
Values are fundamental to your vision and mission statements because they can constrain how your organization pursues its goals.
Values indicate that your company is fair and provides quality products or services despite the social pressure to cut corners. An example of company values:
Freedom of Expression
Freedom of Information
Freedom of Opportunity
Freedom to Belong
The company’s outlined values drive the mission and vision statements, and all of these factors drive your company’s sales. If you need help constructing and engineering your mission and vision statements for your company, our skilled team of writers at Scalability can help.