Chapter 4: Developing Mission, Vision, & Values
Learning Objectives
Understand the roles of
mission, vision, and values in
the planning process
Understand how mission and
vision fit into the P-O-L-C
framework
See how passion and creativity
relate to vision
Incorporate stakeholder
interests into mission and
vision
Develop organizational mission
and vision statements
Apply mission, vision, and
values to your personal and
professional career
Mission and Vision as P-O-L-C
Components
MISSION, VISION, AND VALUES
Ninety percent of 500 firms surveyed issue some form
of mission and vision statements
Firms with clearly communicated, widely understood,
and collectively shared mission and vision have been
shown to perform better than those without them
Bain and Company
What is the difference?
Mission Statements Vision Statements
Communicates the A future-oriented
organization’s reason for declaration of the
being, and how it aims to organization’s purpose and
serve its key stakeholders aspirations.
Often integrates a Addresses what a firm
summation of the firm’s wants to become
values Vision statements tend to
Mission statements tend to be relatively brief
be longer than vision
statements
Examples of Vision Statements
Walmart: Save money. Live better.
Establish Starbucks as the premier
purveyor of the finest coffee in the
world while maintaining our
uncompromising principles as we grow.
ROLES PLAYED BY
MISSION AND VISION
MISSION and VISION ORGANIZING
• Facilitates strategy
• Defines roles and responsibilities
• Encourages coordinated efforts
• Creates and supports culture.
Organizati
onal
Vision Culture
Mission
MISSION, VISION, & LEADING
Leading involves
influencing others
toward the attainment of
organizational objectives
VISION, MISSION, and CONTROLLING
Controlling consists of three steps
Compare actual
Establish Take corrective
performance
performance action when
against
standards necessary
standards
Mission
Goals and and Vision
Objectives
Actual
Versus
Desired
Performance
Corrective Action Required?
Creativity and Passion help create Mission/Vision
Creativity is the
power or ability to
invent
Mission
and
Passion is an intense
Vision
emotion compelling
action
Four Creativity Types
Creativity Tools
SCAMPER Nominal Group Technique
Substitute, Combine, Adapt, Generates numerous
Modify, Put to other uses, creative ideas
Eliminate and Rearrange Ensures everyone is heard
Effective when there is
Inspires lateral thinking vs. concern that some people
programmed thinking may not be vocal
Involves a reflective and Builds consensus
probing style of asking Recommended when there
questions is controversy or conflict
Stakeholders
Government tends to be a
key stakeholder for every organization
Stakeholder Categories
Stakeholders,
Mission, and
Vision
Stakeholder
Mapping
Importance
Influence
Steps in Identifying Stakeholders
Step 1: Determining Influences on
Mission, Vision, and Strategy Formulation
Step 2: Determining the Effects of Key
Decisions on the Stakeholder
Step 3: Determining Stakeholders' Power
and Influence over Decisions
Communication is Critical
upward
downward
Communicating
Across and Outward
The need will likely exist
to communicate with other
units of the firm (across)
and with key external
stakeholders, such as
material and capital
providers and customers
(outward)
DEVELOPING YOUR PERSONAL
VISION & MISSION
Would a mission and What are some
vision statement be guidelines for developing
beneficial to you? your mission and vision?
