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Sunday, January 17, 2021

Mission Statement - Three Communication Goals

Mission Statement - A critical first step in the Strategic Planning process to bring the organization into focus and identifying the company's direction.  The mission statement communicates the company's core ideology and visionary goals consisting of the following:

1.     Core value to which the company is committed.
2.     Core purpose of the company.
3.     Visionary goals the company will pursue to fulfill its mission.

Core Values

Core values are central to the company and are independent of the environment.  A core value will not change even with industry change.  The following are examples of core values:
  • Unparallel Customer Service
  • Technology Leader
  • Creativity
  • Integrity
  • Social Responsibility
      “At the core of our corporate responsibility performance are the company's ongoing business investments to develop reliable energy supplies in a safe, environmentally responsible way. We leverage those investments in a manner intended to create social and economic value in the communities and countries where we operate.” - Dave O'Reilly

Core Purpose

The core purpose is the reason a company exists.  Similar to the core values, the core purpose is relatively unchanging and for many companies it will endure for decades or centuries.  

The core purpose is the idealistic reason for being.  The importance in the purpose is how the company will post a profit since this is what defines the company.

To identify the core purpose utilize the 5 why principles.  Continuing to ask why will move toward an understanding of the markets and the company's niche.
“I am here for a purpose and that purpose is to grow into a mountain, not to shrink to a grain of sand. Henceforth will I apply ALL my efforts to become the highest mountain of all and I will strain my potential until it cries for mercy.” - Og Mandino 

Visionary Goals

The visionary goals are the lofty objectives that management decides to pursue.  A visionary goal is longer term than strategic and tactical goals.  Visionary goals fall into on of the following categories:
  • Target - quantitative or qualitative goals such as sales targets, profitability, and asset return.
  • Common enemy - the competition is alive and hungry.  Focus on the takeover of the competitor.
  • Role Model - Benchmark with world class companies in the industry.
  • Internal Transformation - large corporations can set goals to be number 1 in any of the markets it serves.
Visionary goals can appear to be very stretching and many companies have succeeded in reaching them.

The greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark." - Michelangelo