Business Mission & Vision

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Category: Business and Industry

Date Submitted: 09/10/2010 10:18 PM

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A business doesn’t thrive without knowing its mission and without having a vision in mind. Absolutely all businesses must, in a way, know what its purpose is and create ways in fulfilling its purpose. Having a mission and vision statement is the primary step in achieving these things. It will serve as lamp posts to the road of success that every business firm wants to reach. Mission and vision statements are one of the most integral parts of a business.

In the article given, it basically explained the importance of business vision and its relation to the mission statement. The mission statement which consists of core values, core purpose, and visionary goal coincides with business vision. The article provided brief explanation of these three factors that comprise mission statement. Core values “are few values that are central to the firm. Core values reflect the deeply held values of the organization and are independent of the current industry environment and management fads” (Article). Core values are integral to any business as it gives a list of standards and principles for the company. Core purpose “is the reason the firm exists” (Article). Core purpose sheds meaning to the company on why they exist. Lastly, Visionary Goals “are the lofty objectives that the firm's management decides to pursue. This vision describes some milestone that the firm will reach in the future” (Article). The visionary goals give guidance and direction to the company. All of these factors make up the mission statement which is a very essential part of any business firm.

It’s interesting to know of the things that comprise a mission statement. The three factors that were defined is an important aspect of a business. One can pretty much build a foundation around these factors and implant business ideas based on the mission statement. It is only right that a business have values, know its purpose, and dream of a fruitful future as its vision because these things give a company an...