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The Implications of Corporate Mission & Vision Statements

How does a corporation determine what direction they will take in the marketplace? The first three elements of setting this direction are Mission, Vision and Value Statements. What do these mean? How do they impact decision-making at a corporation?

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In terms of what direction a corporation will take in the marketplace is largely determined by the overall mission, values, and vision statement(s); whether it be a nonprofit or for profit organization. According to managementhelp.org (2010) the mission statement describes the overall purpose of the organization; if the organization decides to develop a vision statement before developing the mission statement, ask 'Why does the image, the vision exist -- what is its purpose?' According to this site, this purpose is often the same as the vision. In addition, according to this site, developing a mission statement can be quick culture-specific, i.e., participants may use methods ranging from highly analytical and rational to highly creative and divergent, e.g., focused discussions, divergent experiences around daydreams, sharing stories, etc.; therefore visit with the participants in terms of how they might like to arrive at a description of their organizational mission.

In terms of wording the mission statement, according to managementhelp.org (2010) consider the organization's products, services, markets, values, and concern for public image, and maybe priorities of activities for survival; consider any changes that may be needed in the wording of the mission ...

Solution Summary

This essay describes what corporate mission and vision statements should include; in terms of the working of the mission statement, the organization's products, services, markets values, and concern for public image must be considered. In terms of the vision statement, participants may use methods ranging from highly analytical and rational to highly creative and divergent focused discussions. This solution is 719 words with two references.