Summary
Mission and vision statements play a tremendous role in the extent of efficacy of organizational management and leadership. As a rule, a mission is defined as the core goals that the organization strives to achieve, whereas a vision is represented by the perspective that the organization in question has on the ideal version of society. In order to develop a functional and effective mission and vision, one needs to consider the context of the industry, the needs of the target audiences, namely, the company’s core customers, and the presence of competitors (Randazzao, 2018). The specified components of the external analysis of the target setting will guide the further development of a strategy that will allow the organization to emphasize its competitive advantage and make it visible in the selected economic environment. Afterward, the design of the organizational structure is suggested as the next logical step.
Opinion
The choice of the mission and vision statements may be seen as a trivial process, yet it allows for the identification of key corporate values and the creation of an environment where core corporate goals can be achieved successfully. However, to ensure that the mission and vision statements are integrated into the organizational decision-making and are followed precisely, a leader must ensure that the specified components of a company’s identity are properly pronounced and integrated into the organizational framework. Specifically, it is crucial that all organizational decisions, as well as any processes within the company, should be driven by its mission and vision. Furthermore, the mission and vision of a company must reflect its ethical standards and align with the essential ethical principles respectively. The mission and vision statements, therefore, should be regarded as a guide for determining the key corporate strategy and the approaches to implementing organizational projects. As long as the mission and vision recognize the importance and role of all stakeholders and are geared toward the continuous development of the company, they will supply the necessary basis for further decision-making within the organization.
Reference
Randazzao, G. W. (2018). Creating a successful consulting practice. Business Expert Press.