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Mission and Vision Statements

Overview

A mission statement defines the company's business, objectives, and approach to reaching those objectives. A vision statement describes the desired future position of the company. The company's Senior management is responsible for writing the company's mission and vision statements. Developing company mission and vision statements aims to internally guide management's thinking on strategic issues, define performance standards, inspire employees to work more productively by providing focus and shared goals, establish a framework for ethical behavior, and guide employee decision-making. The mission and vision statements outside the company can create closer linkages and better connections with customers, suppliers, and alliance partners.

Inputs

This template can be added to your active workbook by clicking on Change and then selecting Mission and Vision. Click on Analysis Setup to open the menu options for this template.

Setup

A sample screenshot of the setup menu is shown below.

1	Analysis Type: Specify the template format for this analysis. This selection is not enabled since there is only one format available.
2	Num Rows: Specify the number of rows on the template. Currently, this option is fixed and not changeable.
3	View Example: Click on this button to add an example worksheet. You can use the example to understand how others have filled out the template or use the example as a starting point and modify it to meet your needs better.
4	Help Button: Click on this button to open the help file for this topic.
5	Cancel Button: Click on this button to cancel all changes to the settings and exit this dialog box.
6a	Create Button: Click on this button to save all changes and update the worksheet layout.
6b	OK Button: Click on this button to save all changes and compute the outputs for this analysis.

Click on OK to save the selected options.

The worksheet consists of three sections. One for Vision, one for the mission, and finally, one for values. A drop-down row on the left-hand side, below the title, says, "Click here to view some examples." These have been provided to you using the best practices of other companies. Review them to get some inspiration as you develop your statements. If you are working with the management team, you can document the various statements created by different sub-teams. Then, the final version agreeable to all management team members can be reported on the right.

Checklist

You will see the following dialog box if you click the Checklist button. The checklist contains a few pointers on things you must pay particular attention to while performing this analysis. The checklist has been derived from experience working on past projects. Not all the checklist items need to apply to you. However, you should carefully review the checklist and apply any recommendations that make sense for your project. Make sure to read each checklist item and mark it as completed after you have read and taken actions as appropriate for your project.

1	Item: The items on the checklist are listed on the left
2	Status: The status of whether the checklist has been answered is listed on the right. If all the checked items are okay, the status image in the header will show a green checkmark. If any checks fail, then the status image in the header will show a red cross mark.

Ideally, all items on the checklist should be marked as reviewed/completed.

Verify

If you click the Verify button, the software will perform some checks on the data you entered. A sample screenshot of the dialog box is shown in the figure below. The software checks if you have correctly specified the input options and entered the required data on the worksheet. The results of the analysis checks are listed on the right. If the checks are passed, they are shown as green-colored checkmarks. If the verification checks fail, they are shown as a red-colored cross. If the verification checks result in a warning, they are shown in the orange exclamation mark, and finally, any checks that are required to be performed by the user are shown as blue info icons.

1	Item: The left-hand side shows the major tabs and the items checked within each section
2	Status: The right-hand side shows the status of the checks.
3	Overall Status: The overall status of all the checks for the given analysis is shown here. The overall status check shows a green thumps-up sign if everything is okay and a red thumps-down sign if any checks have not passed. Note that you cannot proceed with generating analysis results for some analyses if the overall status is not okay.

Outputs

Once you have answered all the data on the worksheet, click on Compute Outputs. This will only check if you have responded to all the checklist questions in the input dialog box in the affirmative. A sample screenshot of the mission and vision statements is shown below. There are no specific graphical outputs to interpret for this analysis. If all the template elements have been filled out, you will get the following message when you click on the Compute Outputs button. Once your management team finalizes the mission and vision statements, you may want to create a good communication strategy around it and widely disseminate it throughout the organization.

Notes

Here are a few pointers regarding this analysis:

• You can add or change examples for each statement by opening the templates folder and editing the drop-down list that is currently being used so that the next time around, these statements will be displayed when you select the mission and vision statements.

Examples

The following examples are in the Examples folder.

1. Select a company and work with the management team to create or update the mission and vision statements (Mission 1.xlsx).

References

For more information on this topic, please refer to the following articles. Do note that if any external links are mentioned below, they are for reference purposes only.

• Mission and Vision Overview: http://www.bain.com/publications/articles/management-tools-mission-and-vision-statements.aspx

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