Not all companies have stoped to think about these four elements that define you “business” from an strategic point of view, which are:
- Vision Statement: this is an almost unattainable goal that inspires the organization to reach for, beyond what they could actually achieve, but creates a north to always stride for. It should be almost poetic.
- Mission Statement: it describes what we do day to day, the “how” we achieve the vision statement in the long run. Some companies will combine Vision and Mission statements when add ing values/purpose statements to the mix.
- Core Values: define the moral high ground which every person in the organization will use as a guiding principle to perform the work and make difficult decisions that affects the customers (or company’s assets) when Management is not available to make the decision for them
- Purpose: this is the WHY we do what we do, the impact we have in our customers and the reasons we do what we do (there are elements of the core values, vision, and vision in the purpose)
Here is an example I can think of for a modern accounting firm, feel free to use it as a guide for your own business
“To create balance in the world of business”
“To prepare fast and accurate financial statements for business owners”
- COMBINED Vision and Mission:
“To create complete balance for business owner’s world by preparing fast and accurate financial statements”
“Accuracy, Integrity, Honesty, and Environmentally Conscious”
“Giving our customers balance and focus to do what the love by balancing their books timely and accurately”
This live 11-minute YouTube video inspired from the Daily Drucker – Feb 27th, which lead to writing this article: