Importance of Vision, Mission, and Values in Strategic Direction
The importance of an organization to develop a vision, mission, and values is important for strategic direction. Without the individual foundations of strong values illustrated by a vision to be undertaken by a mission, an organization cannot become an overly successful organization. Without developing a mission, vision, and values to assist in developing a strategy, an organization cannot identify, distinguish or explain itself to its employees and customers alike. This paper will discuss the importance of developing a vision, mission, and values for the business of water turbine induction systems.
Importance of Vision, Mission, and Values in Strategic Direction
The importance of an organization to develop a vision, mission, and values is important for strategic direction. Without the individual foundations of strong values illustrated by a vision to be undertaken by a mission, an organization cannot become an overly successful organization. Without developing a mission, vision, and values to assist in developing a strategy, an organization cannot identify, distinguish or explain itself to its employees and customers alike. This paper will discuss the importance of developing a vision, mission, and values for the business of water turbine induction systems.
The Mission Statement
A mission statement is important for an organization because it defines the business, products or services, and customers. In addition, a mission statement allows the organization to differentiate itself form competitors by answering three key questions: What do we do, for whom do we do it, and what is the benefit? (N.A., 2006, p. 1, ¶2). Mission statements build and identify the relationships between employees and the mission, the organization itself, the customer, suppliers, and co-workers (Crans, Gaich & Hisscock, 2009, p. 44-45).According to Crans, Gaich, and Hisscock (2009), “For the truly committed, the mission statement becomes a mantra that is imprinted on his or her heart, against which every possible course of action is weighed and measured. It becomes the litmus test for future actions” (p. 44, ¶7).
The mission statement for my water turbine induction system is as follows. We are in the business of developing, building, and selling water turbine induction systems for power generating and desalination plants along the United States coastal regions. Our organization, employees, and suppliers are proud to offer a unique underwater dual purpose design made with high quality environmentally friendly components made in the USA. As a result, our customers can expect long-lasting equipment providing efficient operations. Therefore, customers will be able to provide uninterrupted service of power and water to those who need it quickly and economically.
The Vision Statement
A vision statement describes how the future will look if the organization achieves its mission (N.A., 2006, p. 1, ¶1). An organizations vision or preferred future must contain information that is realistic, credible, and attractive for the organization in the future. According to Payne (2008) “Strategists try to focus the energies of the workforce on the corporate vision” (p. 53, ¶7). A realistic, credible, and attractive vision statement attracts commitment and energizes people, while creating meaning in workers’ lives. In addition, a well thought out vision statement bridges the present with the future while establishing a standard for excellence.
The organizations vision statement is as follows. The organizations vision is to provide the tools and equipment necessary to alternative fuel providers to minimize if not eliminates the need for imported natural resources for consumption in the United States.
Guiding Principles or Values
According to Harris (2007), “Guiding principles serve as a platform to nurture desired behaviors in the organization (p. 102, ¶1). Within in this organization, several factors or principles will guide our organization. In every transaction, customer’s interests will be our foremost concern. Placing ourselves in our customers’ shoes gives us the unique perspective of understanding how our customer’s business operates and their expectations. Honest and open communication eliminates miscommunication and misunderstanding causing unnecessary distractions from providing unequalled customer service.
Personal, professional, and ethical conduct will be the rule. Wavering from these guidelines is unacceptable. For example, bribes or ill-treatment of co-workers, suppliers, and customers will not be tolerated. Respect is given to all individuals allowing for their creativity and passions to come forward while focusing on the mission and vision.
How Vision, Mission, and Values Guide the Organizations Strategic Direction
Vision, mission, and values play a part in the organizational strategy process. The basic building blocks of values such as honesty, integrity, respect, and professional behavior is combined and developed into the mission statement of what the organization is all about. Identifying the mission of the organization identifies where the organization is and how it conducts business currently. Values provide the guidance of how the organization will reach the ultimate goal or vision. Without strong and defined values, a mission or vision is not possible because there are no individual steps to provide guidance.
Customer Needs and Competitive Advantage
Water turbine induction system customers need high quality products, competitively priced within the agreed time frame. In addition, customers expect fair, professional, and courteous treatment. Ethical treatment and social responsibility is also important to customers and selling organizations alike. Providing training, education, and on-site assistance to customers provides additional value that competitors cannot provide.
By using environmentally friendly components and processes, we offer an environmentally friendly product that ultimately is used in the production of environmentally friendly energy. Along with the environmentally friendly advantage, the educational and volunteerism of the organization will assist those in the local area to assist those who are disadvantaged and need assistance. Combining economic, political, social, and environmental factors will allow us to grow providing a unique product and sustaining competitive advantage.
Conclusion
Frequently Asked Questions
What is the importance of vision, mission, and values in an organization's strategic direction?
Vision, mission, and values are crucial for strategic direction. Strong values, a clear vision, and a well-defined mission are essential for an organization's success. They provide a framework for strategy development and help the organization define itself to employees and customers.
What is a mission statement and why is it important?
A mission statement defines the business, products/services, and customers. It differentiates the organization from competitors by answering: What do we do? For whom do we do it? What is the benefit? It builds relationships between employees, the organization, customers, suppliers, and co-workers, guiding actions and decisions.
What is an example of a mission statement for a water turbine induction system company?
An example mission statement is: "We are in the business of developing, building, and selling water turbine induction systems for power generating and desalination plants along the United States coastal regions. Our organization, employees, and suppliers are proud to offer a unique underwater dual purpose design made with high quality environmentally friendly components made in the USA. As a result, our customers can expect long-lasting equipment providing efficient operations. Therefore, customers will be able to provide uninterrupted service of power and water to those who need it quickly and economically."
What is a vision statement and why is it important?
A vision statement describes the future if the organization achieves its mission. It should be realistic, credible, and attractive, energizing people and creating meaning in their work. A well-crafted vision statement bridges the present and future and establishes a standard for excellence.
What is an example of a vision statement for a water turbine induction system company?
An example vision statement is: "The organization's vision is to provide the tools and equipment necessary to alternative fuel providers to minimize if not eliminates the need for imported natural resources for consumption in the United States."
What are guiding principles or values and why are they important?
Guiding principles or values nurture desired behaviors within the organization. They serve as a platform for ethical conduct and decision-making, ensuring customer interests are prioritized, communication is open and honest, and respect is shown to all individuals.
How do vision, mission, and values guide an organization's strategic direction?
Vision, mission, and values are fundamental to the strategic process. Values form the foundation, the mission defines the current state and purpose, and the vision represents the ultimate goal. Values guide the organization towards its vision through the mission.
What are the customer needs and how can a company gain a competitive advantage?
Customers need high-quality products at competitive prices delivered on time. They also expect fair, professional, and courteous treatment. Ethical treatment and social responsibility are also important. Providing training, education, and on-site assistance can create additional value. Using environmentally friendly components and processes is an advantage, along with educational and volunteer efforts in the local community.
What is the overall conclusion about the importance of vision, mission, and values?
Developing a strategic plan requires identifying vision, mission, and values. Strong ethical values form the foundation for a mission, which defines the organization's current state. The mission helps the organization move towards its vision, which represents the ultimate goal. Understanding the interaction between values, mission, and vision enables a well-designed and successful strategic plan, leading to a competitive advantage.
- Quote paper
- James Tallant (Author), 2009, Importance of Vision, Mission, and Values in Strategic Direction, Munich, GRIN Verlag, https://www.grin.com/document/167258
