📺 Stream EntrepreneurTV for Free 📺

Necessity of Vision, Mission and Values for a start-up Have you ever given a thought to the mission and vision of your organisation ? If not go through what we have to say

By Harendra Deshpande

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Shutterstock

Vision defines the dream destination (What and Where) of your organization whereas, a north-star statement that creates the focus and direction, whereas mission defines the purpose of your organization (why) and ensures alignment of action (How) with its Vision.

Business without Vision is an illusion :

Vision statement should essentially have 3 qualities, Aspiration, Inspiration and Direction. Vision helps you to visualize growth possibility of an organization for 8 to 10 years of timeframe. Mission helps organization to create alignment of actions and behaviors of people. Behaviors of people are expected to be based on strong Values of the organization. Values are like roots of the tree; they provide solid foundation and act like a lighthouse for the organization in turbulent times. For example, in an organization with a value about Customer Focus, employees ooze empathy to their customers. Their thoughts and actions are configured around personal commitment to customers win all the time.

Relationship between Vision,Mission and Values :

Now we appreciate importance of Vision, Mission and Values to create alignment in action within organization and move towards closing growth possibility with defined timeline. Leadership team has further responsibility to speak about Vision and Mission all the time, every day and at every opportunity, thereby helping people to realize their purpose of engagement with the organization. Leadership team should also demonstrate the Values through their behaviors all the time. It is non-negotiable.

Structuring it with the help of a pyramid :

The pyramid below shows how alignment of action should permeate within the organization. Leadership team needs to create system to support actions and behaviors expected out of this strategic alignment.

Do you think something similar happens with your organization? Let us categorize organizations in 3 types: Type A, Type B and Type C

More than 60% of the organizations don't know where they are going, they just keep on continuing. They are moving without any Vision. This doesn't mean they are not growing or not making profits, but their growth is directionless and "Numbers" are centric, their efforts are not focused or concentrated towards their long term goals and above all they are scattered. These are Type C organizations.

Many organizations do have great Vision & Mission, Well defined! We can see it on their official websites. But if you ask any of these employees, what is your Vision and Mission? Hardly anybody can recall it. In such organizations Vision and Mission are just one of the rituals of communication defined by the management. They are namesake. In these cases organization's Vision demands certain efforts in certain directions, but in reality efforts and actions are not aligned with its Vision and Mission. There is a huge gap between vision and reality. These are Type B organizations.

In Type A organizations it's a rear combination where their Vision is well defined, well communicated and employee's thoughts and actions are well aligned with the Vision and driven by Mission with a clear road map.

Where is your organization at present and where you want to be, Type A, Type B or Type C? Analyze yourself and work towards it.

Side Hustle

These Coworkers-Turned-Friends Started a Side Hustle on Amazon — Now It's a 'Full Hustle' Earning Over $20 Million a Year: 'Jump in With Both Feet'

Achal Patel and Russell Gong met at a large consulting firm and "bonded over a shared vision to create a mission-led company."

Business News

These Are the 10 Most Profitable Cities for Airbnb Hosts, According to a New Report

Here's where Airbnb property owners and hosts are making the most money.

Side Hustle

How to Turn Your Hobby Into a Successful Business

A hobby, interest or charity project can turn into a money-making business if you know the right steps to take.

Science & Technology

Service as a Strategy — How to Build a Sustainable, Future-Ready Tech Business

The benefits of transitioning from traditional SaaS models to service-based models — and how to do it successfully.

Business News

Samsung's New Ad Pokes Fun at Apple's Controversial 'Crush' Ad

Creative universes overlap in a new ad from Samsung.

Productivity

Want to Be More Productive? Here's How Google Executives Structure Their Schedules

These five tactics from inside Google will help you focus and protect your time.