1. Chapter 4: Developing Mission, Vision, & Values Learning Objectives
Understand the roles of mission, vision, and values in the planning process
Understand how mission and vision fit into the P-O-L-C framework
See how passion and creativity relate to vision
Incorporate stakeholder interests into mission and vision
Develop organizational mission and vision statements
Apply mission, vision, and values to your personal and professional career

2. Mission and Vision as P-O-L-C Components

4. MISSION, VISION, AND VALUES
Ninety percent of 500 firms surveyed issue some form of mission and vision statements
Firms with clearly communicated, widely understood, and collectively shared mission and vision have been shown to perform better than those without them
Bain and Company

5. What is the difference?
Mission Statements
Vision Statements
Communicates the organization’s reason for being, and how it aims to serve its key stakeholders
Often integrates a summation of the firm’s values
Mission statements tend to be longer than vision statements
A future-oriented declaration of the organization’s purpose and aspirations.
Addresses what a firm wants to become
Vision statements tend to be relatively brief

6. Examples of Vision Statements
Walmart: Save money. Live better.
Establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles as we grow.

7. ROLES PLAYED BY MISSION AND VISION

8. MISSION and VISION ORGANIZING
Facilitates strategy
Defines roles and responsibilities
Encourages coordinated efforts
Creates and supports culture.
Mission
Vision
Organizational Culture

9. MISSION, VISION, & LEADING
Leading involves influencing others toward the attainment of organizational objectives

10. Controlling consists of three steps
VISION, MISSION, and CONTROLLING
Controlling consists of three steps
Establish performance standards
Compare actual performance against standards
Take corrective action when necessary

11. Actual Versus Desired Performance Corrective Action Required?
Mission and Vision
Goals and Objectives
Actual Versus Desired Performance
Corrective Action Required?

12. Creativity and Passion help create Mission/Vision
Creativity is the power or ability to invent
Passion is an intense emotion compelling action
Mission and Vision

13. Four Creativity Types

14. Creativity Tools
SCAMPER
Nominal Group Technique
Substitute, Combine, Adapt, Modify, Put to other uses, Eliminate and Rearrange
Inspires lateral thinking vs. programmed thinking
Involves a reflective and probing style of asking questions
Generates numerous creative ideas
Ensures everyone is heard
Effective when there is concern that some people may not be vocal
Builds consensus
Recommended when there is controversy or conflict

15. Government tends to be a key stakeholder for every organization
Stakeholders
Government tends to be a
key stakeholder for every organization

16. Stakeholder Categories

17. Stakeholders, Mission, and Vision
Stakeholder Mapping
Importance
Influence

18. Steps in Identifying Stakeholders
Step 1: Determining Influences on Mission, Vision, and Strategy Formulation
Step 2: Determining the Effects of Key Decisions on the Stakeholder  
Step 3: Determining Stakeholders' Power and Influence over Decisions

19. Communication is Critical
upward
downward

20. Communicating Across and Outward
The need will likely exist to communicate with other units of the firm (across) and with key external stakeholders, such as material and capital providers and customers (outward)

21. DEVELOPING YOUR PERSONAL VISION & MISSION
Would a mission and vision statement be beneficial to you?
What are some guidelines for developing your mission and vision?