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I promised that I would articulate the difference among common vision, mission statements, and goals; and in this third article in a series of four, I am ready to deliver on that promise. First let's consider vision versus mission. The difference is vast. Vision comes from the heart and mission comes from the head. A mission statement is a pronouncement of what the business is, its goals, its ranking, return on equity and net assets, increased profitability, etc. A vision cannot be expressed in numbers. Numbers are only a manifestation or consequence of a vision yet to be defined. A vision is a continuously created fantasy of what we would ideally like to company (organization) to be--a waking dream. A vision statement is often another name for "guiding principles" or "core values". What is new is that in the empowered organization, it is the challenge of the leaders to make sure each employee is involved in creating the vision. To help you see the difference between a common vision and a mission statement; a mission statement of a successful company is shown below. Compare it to the common vision example provided in Part 2 of this series. "OUR MISSION is to... Strengthen our number one technical position, and improve our worldwide market share through continued product differentiation with the Spinodal Bearing, Steerable Motor Bit, Diamond Enhanced Inserts, hydraulic improvements, and specific TCI cutting structure improvements. Also, to continue improving the process of shortening new and improved product commercialization time. This plan will be successful when our US market share has sustained a minimum of 32 percent and our international market share has improved (specifically noted for key markets)." To quote Mapes: "Another common error is to confuse vision with goals and objectives. A vision is a process and a goal is a part of a program. There are many differences between a process and a program, among them: a program has a beginning and an end; a process never ends but becomes a part of what goes on forever--"the way we do things around here", a paradigm. A goal is task-oriented; a vision is process-oriented. A goal is limiting; a process is open-ended. A goal may be boring, mundane, non-inspirational, but a vision provides energy, power, and a passion to achieve goals." In other words, a goal is a step on the way to realizing a vision. Examples of goals: 1. Achieve $200 million in revenues at 55% gross profit margin, and return on assets of 75%. 2. Increase US market share to 30% and international market share to 25%. 3. Gain a 10% price increase. NOTE: You know you are the price leader in your industry when you RAISE prices and your competitors follow. When you contrast these with the common vision statement in the last article, the vast difference is easy to see. It is also easy to see how all three: vision, mission, and goals fit into the grand scheme, and how the latter two support the former. In Part 4, we will conclude our look at common vision. Gene Myers http://www.strategicpublishinggroup.com/title/AfterHours.html Read After Hours available from www.amazon.com and www.barnes&noble.com
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