Tuesday, January 11, 2011

How to decide Vision and Mission Statements for your company

Parameters which should be kept in mind while making Vision and Mission statements for your company:
1)     
      Clarity: A Vision statement should be clear in the terms what company wants to achieve and what are the goals it has set for itself
2)      Motivation: Vision statement must be motivating for the associates working for the company. they should always feel proud and get propelled to work every time they read it
3)      Ethical: vision statement should also portray that company will always follow ethical practices in order to achieve the goal
4)      Comprehensible:  A vision statement should be easily understandable for all the stack holders (vendors, clients, employees and society). For the same reason it should not use any jargon, industry specific terminologies or complex sentence structures
5)      Sync with business: company’s vision statement should be in sync with the kind of business it does. For making a flashy vision statement company should not depart from the sole reason of its existence
6)      Guiding Star: A company’s vision should always provide guidance to its employees in situation of dilemma.

Let’s take a company and analyze its Vision statements

Company name: Mahindra Satyam
Vision Statement: To be the world’s most valued information, communications and technology (ICT) company

My Rating for company’s Vision Statement (on  scale of 10):

Analysis: company is clear in the vision statement in the terms what it wants to achieve but statement lacks the ways through which it is planning to achieve the same. In order to reach the top company may adopt unethical practices which eventually it did. Also vision statement here only talks about the ultimate target where it wants to be but does not talk about the thinks it would like to achieve in the pathway like delighting customers, associates and society.

There are very few MNC which will score high this way. Do the same kind of analysis for the organization you have worked/working for and post your company and ratings.

7 comments:

  1. Good try Archit but I think your analysis of Vision statement mixed up contents of both Vision and Mission statement. I dont know whether Satyam has/had a Mission statement or not but to clarify my point I am posting SAP's Vision, Mission and Culture statement here.

    "
    OUR VISION
    Help the World Run Better

    Our vision for the future of business is a global, connected real-time marketplace where business networks, companies and people compete and collaborate – a real-time networked economy.


    OUR MISSION
    Help Every Customer Become a Best Run Business

    Our core competence is to leverage innovative technologies to help companies become best- run businesses. The truest measure of our success is our customers’ success. In a world where companies connect across value chains and people connect via technology networks, designing beautiful solutions that can work on any device and can delight consumers will be at the heart of our product development strategy.

    OUR CULTURE
    Our culture defines the organization and the operating principles for our business. We are motivated to be an amazing company to our customers, employees, ecosystem, and influencers through our passion for: success, accountability, professionalism, integrity, teamwork, and trust.
    "

    ReplyDelete
  2. @Roshan: thanks Praji, for the appreciating words and very thanks for taking out time for posting SAP's V/M statements.

    yes i have analyzed only the vision statement of Satyam as mission was not available on the official website.

    still i think even SAP's vision is pretty vague. "help the world run better" but how ? if they would have given one more statement with this like -by doing .... then it would have been better. what say

    ReplyDelete
  3. This could be point of debate because if we talk about last recession almost all big companies are failed to strict either on their vision or mission for long term their might be success but Finally a decision and a situation which plays a critical part to run the business.

    I basically see these as a business strategy through which they can connect to various stakeholders of the business off course an employee also is an stake holder to run a business.

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