Monday, 26 January 2015

#TheStrategicProcess (II) #Mission




The company, or rather senior management, have already defined the Vision or the end point where we want to go in a period of time. It outlines what the organization wants to be in the long term view. This will be taken into account which is the Mission of the company, that is, who we are and what we really do. The Mission defines the fundamental purpose of the company and answer to three important questions:

1.) What does the company do?
2.) Whom does the company work for?
3.) How does the company do it?

Vision and Mission are pretty close and we will illustrate it with a simple example. A father asks his son who will soon enter in a college: "What do you really want to study?"  His son replies with his Vision: "Dad, I want to study and become an engineer". Right first seems an ambitious goal. The son adds: "Besides I plan to get a degree in three years instead of five". Vision becomes an almost unreachable goal also because the father says to his son: " I think you are wrong in your approach because I have to remind you that you are wearing five straight years without passing the mathematics, that means, you fail the basics. You have no idea about  maths (your Mission is wrong) and you want to make an engineering career without knowing mathematics. And also in three years seems a difficult challenge to overcome. Don't you agree? 

Unattainable Vision and wrong Mission clearly leads to failure. Why we exist as a company, which is what we really do and what our customers are willing to pay? Which are the differentiators for our customers for choosing us and not the competition? All these questions must be answered to understand and clearly define what our Mission as a company is. Following some examples about Vision and Mission:

Chevron
Mission Statement
At the heart of The Chevron Way is our Vision to be the global energy company most admired for its people, partnership and performance.

The Dow Chemical Company
Mission Statement
To constantly improve what is essential to human progress by mastering science and technology.


Ford Motor Company
Mission Statement
We are a global family with a proud heritage passionately committed to providing personal mobility for people around the world.


But we insist, the defined  strategy has to be very consistent in the things that make us different from our competitors. From our differences we have to obtain competitive advantages so that the defined strategy becomes the most appropriate way to achieve the ambitious Vision we have established. Doing so we entering in the interesting world of #TheStrategicProcess

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