What are Vision, Mission and Strategy?
Vision, Mission, and Strategy are terms that are bandied about a lot in the business world but it’s not always clear what the person using these terms means. In this article I give clear definitions for each of the terms and explain why knowing what these are is important to your business.
I will use real life examples to explain what I mean, including MacDonalds and my own business, John Owens International.
If we look at the vision for McDonald’s, this says it is, “To be the best quick service restaurant experience.”
They also have a longer version, which is shown above, “Our overall vision is for McDonald’s to become a modern, progressive burger company,” et cetera, et cetera, et cetera.
So, a short version and a long version.
Then, if we look at what their mission statement above, it says: “To be our customers’ favourite place and way to eat & drink. Our worldwide operations are aligned around a global strategy,” etc. Their vision and their mission. Is there a difference? I don’t know.
Let’s look at Ford Motor Company. Their Vision is: “People working together as a lean, global enterprise for automotive leadership.”
And their mission: “One Team, One Plan, One Goal.”
So, their vision was to see people working together as a lean global enterprise for automotive leadership, and the way they want to do that is by having one team, one plan and one goal.
At John Owens International, we’ve come up with definitions for vision, mission and strategy, not only to help us be clear but also to help our clients when they’re putting them into their businesses.
Your Mission is what you see is your overall business approach to bringing that change.
Your Vision and your Mission statements should not be trite, fluffy or bland. If they are, people will feel that they lack credibility and therefore that you lack credibility.
Finally, Strategy. Your strategy provides the detailed steps your business will need to take in order to bring about the change in your vision.
Let’s look at the vision statement for John Owens International, and here it is.
“To create a world of heart and spirit-led individuals living inspired
and fulfilled lives through business success.”
Our mission, in order to bring about that change, our overall business approach is:
“To develop and share a set of products, services, and techniques with the world that will enable
heart and spirit-led individuals to attain personal freedom through business success.”
Then, our strategy, of course, is much more detailed than that. It’s things like defining our target audience, determining their need and values, developing one-to-one products, events, and services, etc.
Let’s return to the definitions. These are very useful whenever you need to remind yourself, come back and have a look at them.
There we are, a short article which I hope you enjoyed. In the next article we will be looking at your Standards and Values and how knowing these and letting other people know them, can really accelerate your business growth and success.
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