Your corporate vision is the guiding foundation for your business development and branding strategies. There are four components to corporate vision.
1. Mission statement – the big why behind your organizations existence.
2. Vision statement – the overarching aspirations that your business hopes to achieve in the near and long term.
3. Core Values – The pillars of your businesses foundation. Critical in shaping culture and establishing a guiding philosophy.
4. Goal Setting – The measuring stick of success and the actionable tactics required to achieve the results outlined in the corporate vision statement.
Your corporate mission statement is designed to be the big “why” of your organizations existence. It is more focused around the customer and giving them a sense of what your business is providing to the marketplace, in addition to management and employees.
A carefully crafted corporate vision statement is the cornerstone of every successful business. A vision statement communicates clearly and concisely your organizations overarching aspirations, and is a tool for strategic decision making throughout the entire company.
Vision statements can short and simple, encompassing the entire core ideas into one sentence, or consist of a small paragraph. Regardless of length, the vision statement will embody the essence of your efforts and act as a powerful tool to motivate and direct management and employees.
Developing your organizations core values establishes the foundation to support your corporate vision and mission statements. By shaping the culture through the establishment of guiding principles and philosophies that your management and employees can look to for guidance and inspiration.
Goal setting is how a business sets milestones in order to measure whether or not they are moving towards their vision and at what rate. It begins by setting objectives that align with the vision statement and specific in their nature.
The second aspect of goal setting is determining the tactics required to achieve our objectives. Ensuring tactics are measurable in nature and will speed up the process, and utilize the Pareto Principle to ensure you are focusing resources on effective tactics.