Chapter 2, Vision, Mission and Values

Chapter 2, Vision, Mission and Values • “If you don’t know where you are going, any road will take you there”anon

Vision, Mission and Values Long-Term View of Success What is Desired? Defining Challenges and Opportunities Examining the Company Profile Defining the Industry Situation Phase 1 What is Possible? Define Critical Success Factors Make a choice of Long and Short-Range Strategies Figure 2.1, The planning model

STAKEHOLDER RESPONSIBILITY AND ACCOUNTABILITY Stockholders/ Investors To provide long term financial returns that fairly compensate investors for risks Customers To provide high quality and safe products and services that represent fair value for the price paid. Defining “Stakeholders” so a “Vision” can be written • Figure 2.2

Employees To provide a safe and nurturing workplace that fairly compensates people for the value they bring to the organization and to provide people with the opportunity to realize their personal potential. Suppliers To provide a professional relationship in contracting for and purchasing supplies and services, and a prompt completion of trade obligations. Creditors To ensure that debts are secure and protected and that payment obligations are met promptly. Defining “Stakeholders” so a “Vision” can be written

Competitors To observe fair business practices and to treat the competition as the business itself wishes to be treated. Government To adhere to the letter and intent of laws governing business practices such as fair competitive practices and anti-trust laws, and to honestly calculate and pay promptly all forms of taxes. Local Community To have employees involved in community initiatives, to employ people from the local community and to conduct business in the best interest of the liveability of the community General Public To participate in and contribute to society as a whole by assuming a fair proportion of the burden of government and society and by promoting the growth of the economic system. Defining “Stakeholders” so a “Vision” can be written

The vision statement should define: • Who you are and what business you are in • What you provide to your customers, not in terms of specific products, but more in terms of their experience • How you provide your products and services I wish to be viewed by my stakeholders as..

Example vision statement for a Sporting Goods Store • We are aggressive sporting goods retailers offering the ultimate shopping experience to our customers through leading edge distribution channels.

Example vision statement for a City Management Team • We strive to have the most appealing, livable and well managed city in Canada

Example vision statement for a Dairy Farm • Quality and freshness are the core of our business which involves providing the complete range of dairy products to wholesale markets.

Developing the Mission Statement Organizations develop mission statements because they want: • To consolidate efforts around one purpose • To motivate the effective use of resources, both financial and non-financial • To clearly define the planning path • To provide a framework for decision making and control • To set expectations for results and outcomes • To establish a functional organizational tone and climate

Defining the Mission Statement • The Mission Statement should define: • Products and services provided • Customers that will be served • How the products and services will be provided • The results that are expected

What is defined? Example What we do defines the primary product or service We sell real estate We manufacture and sell professional quality cameras We harvest, process, and distribute wood products Who we do it for defines the customers and the market, who the customers are and where they are located To customers from world-wide sources who wish to locate in Vancouver To customers in every city of the world To wholesale distributors in western Canada Figure 2.3 Elements of a Mission Statement • “What We Do, Who We Do It For, How We Do It and Why We Do It”.

How we do it defines the principle technologies used, the ethics and business principles and the organizational philosophies By employing the highest ethical principles By treating every customer with respect By utilizing e-commerce to its fullest potential By valuing employees, their diversity and their contribution to the organization By remaining committed to continuous growth in new markets Why we do it Defines the results expected from a variety of dimensions Which will maximize the financial value of the organization for stockholders Which will minimize the impact of operations on the natural environment Which will ensure a solid foundation of satisfied customers for years to come Which will maintain our position as leading edge service providers Elements of a Mission Statement

Example Sporting Goods Store • To provide high quality, leading edge sports equipment and clothing to the aggressive North American sports enthusiast in a convenient, dynamic and service friendly environment that will create a loyal and satisfied customer base, which will ensure the long term prosperity of the company.

Example City Management Team • To protect and enhance the economic and social well being of the city for generations to come by engaging in responsible decision-making, being fiscally accountable, striving for excellence in program and service delivery and consulting openly with community stakeholders on every aspect of our business. We are, above all else, committed to maximizing the satisfaction of taxpayers in our city.

Example Dairy Farm • To create a long range financially stable organization by effectively using technologies that minimize operating costs and maximize product quality and availability to the local wholesale market while at the same time exploring revenue opportunities outside of the local market.

EXAMPLE How employees will be treated and how they will treat each other Employees will be recognized for the contribution they make to our success Employees will be provided with opportunities for advancement based on skill and commitment Wherever possible promotion will occur from within We care for and respect the rights of our fellow employees How customers and stakeholders will be treated We ensure that our customer’s positive experience is a priority in every encounter We will be consultative in our dealings with stakeholders and we will listen to their views We will make every effort to operate in the best interest of all stakeholders Developing Values • Figure 2.4 Examples of Organizational Values

Which values people will use to govern how they work We will be open with each other so that petty differences don’t go unresolved We will strive to keep our work fun We will challenge what does not make sense We will be open and receptive to the views of subordinates and superiors We will be willing to try everything that makes sense How the values will relate to organizational success We will constantly strive to enhance the efficiency and effectiveness of our organization We will nurture and develop our shared values for the benefit of the organization Examples of Values

MISSION, VISION AND VALUES, - Where to from here? • Using the Vision, Mission and Values we must now create implementation plans that deliver measurable results so that we can become a dynamic and proactive organization that will take advantage of opportunities and effectively deal with the challenges that the future has to offer.

Chapter 2, Vision, Mission and Values