If you’re part of the marketing world, you’ve likely heard the trio of mission, vision, and values multiple times. While it’s often rattled off as a catchy phrase, the fact is that these are three distinct concepts. And each is equally necessary for the growth and success of your company.
The lines between mission and values are often blurry, making it impossible for brand managers to differentiate between the two. The fact is leading companies all over the world curate mission and vision statements to guide them in their business affairs.
In fact, these are the very foundation of an organization, defining the purpose, goals, and values of the business. Despite being interchangeable, mission and vision statements boast different purposes.
Now is the ideal time for organizations across the globe to revisit and revamp their vision and mission statements. However, a lack of understanding may make it difficult for you to craft a powerful mission and vision statement. Let’s discuss the many differences between the two words:
What is a Mission Statement?
Your mission statement is the core belief of your business. It drives your business and extracts your objectives, ultimately determining what you need to do to reach your goals.
More importantly, it helps shape the culture of your company. Several questions to ask yourself when crafting one are:
- What do we do?
- Who do we serve?
- How do we serve?
What is a Vision Statement?
On the contrary, vision statements provide your company with guidance and direction. It represents the future state of your business and promotes growth. Vision statements focus on what you want to become.
Here’s what you should ask yourself when crafting a vision statement:
- What are your business dreams?
- What are issues your business will be resolving for the greater good?
- Who and what do you aspire to change?
How do the Two Work?
According to in-depth research, mission-driven workers are 54% more likely to stay with the same company for five years. Moreover, they post a 30% higher likelihood of growing into high-performers.
If you want to boost engagement within your office, you need to craft a high-quality mission and vision statement. Here’s how you can achieve that:
- Identify your business’ culture, values, and view of the future via interviews.
- Address the dedication and commitment your organization has to key stakeholders
- Make sure all objectives are measurable, approaches are actionable, and the vision plausible
- Clearly communicate the message is simple and clear language
- Live by your core values
The Bottom Line
Here’s the thing: your vision statement focuses on tomorrow, whereas the mission statement focuses on today. Keep in mind that your brand’s mission statement clearly describes the organization’s overall purpose, thus painting the current picture. Therefore, it needs to accurately describe what you do, why you do it, and what benefits it provides.
On the flip side, the vision statement envisions the standing of your company in the future. These are typically wordy and offer inspiration to staff members. Vision statements need to integrate forward-thinking of what they need to accomplish in the coming five to ten years.