Collins and Porras “ WHICH ROAD DO I TAKE?" (ALICE) "WHERE DO YOU WANT TO GO?“ (Cheshire Cat) "I DON'T KNOW," ALICE ANSWERED. "THEN,” SAID THE CAT, “IT DOESN'T MATTER. IF YOU DON'T KNOW WHERE YOU ARE GOING, ANY ROAD WILL GET YOU THERE.” “It is more important to know who you are than where you are going.” Collins & Porras

Vision Statements Reason for an organization’s existence Reason for an organization’s existence Massively inspiring Massively inspiring Overarching Overarching Enduring, very long-term Enduring, very long-term Driven by and evokes passion Driven by and evokes passion Fundamental statement of the organization’s Fundamental statement of the organization’s –Values –Aspiration –Goals

Mission Statements Purpose of the company Purpose of the company Basis of competition and competitive advantages Basis of competition and competitive advantages More specific than vision More specific than vision Focused on the means by which the firm will compete Focused on the means by which the firm will compete Energizes and focuses efforts Energizes and focuses efforts

Values Statement Essential and enduring tenets of an organization Statement of ethical priorities Guiding principles for behaviors and decision making Basis for moral courage Independent of current environment or competitive requirements

Strategic Objectives Operationalize the mission statement Operationalize the mission statement SMART(S) SMART(S) Indicates strategic intent – BHAG Indicates strategic intent – BHAG Strategic v Financial Strategic v Financial Long-term v short-term Long-term v short-term S stretch

Core Purpose / Vision Vision Statement Massively inspiring Massively inspiring Driven by and evokes passion Driven by and evokes passion Core Purpose The Organization’s reason for being The Organization’s reason for being People’s idealistic motives for doing the company’s work People’s idealistic motives for doing the company’s work

Collins and Porras Vision v. Strategy Vision v. Strategy –Vision: remains fixed –Strategy: Endlessly adapts to a changing world Collins & Porras v Handy Collins & Porras v Handy

Collins and Porras Vision: Vision: provides guidance about what core to preserve and what future to stimulate progress toward Core ideology Core ideology: defines what we stand for and why we exist Core values: essential and enduring tenets of an organization Core Purpose: Organization’s most fundamental reason for existence Envisioned Future Envisioned Future: what we aspire to become, to achieve, to create BHAG : clear, compelling focal point of effort, catalyst for team spirit Vivid Description: vibrant, engaging, and specific description of what it will be like to achieve BHAG

Core Values / Values Statement Values Statement Statement of ethical priorities Standards of behavior and practices Core Values Essential and enduring tenets of an organization Timeless guiding principles

Envisioned Future / Mission Mission Statements Purpose of the company Purpose of the company Basis of competition and competitive advantages Basis of competition and competitive advantages Means by which the firm will compete Means by which the firm will compete Envisioned Future Audacious goal plus what it will take to achieve the goal Audacious goal plus what it will take to achieve the goal Tangible, energizing, highly focused Tangible, energizing, highly focused Unifying focal point of effort Unifying focal point of effort Clear finish line Clear finish line

Hierarchy of Defining Statements Values Statement