Strategic Toolkit: Mission; Vision Statement
Strategic Toolkit: Mission and Vision Statements
Business "toolkits" ideally contain Mission Statements and Vision Statements, along with other tools. While the Mission Statement is a concise declaration of why a business exists, the Vision Statement is a more elaborate assertion of what the business sees, hears and does to achieve the optimum outcome. The Coca-Cola Company's Statements vs. Wal-Mart's Statements reveal wordy, imprecise uses of these tools vs. pointed but hyper-abbreviated applications of the same tools.
Elements of a Good Mission Statement
A Mission Statement is concise, clear and tells why your business exists. According to Kapenda, "if your mission statement can't fit on the back of your business card, then you need to go back to the drawing board" (Kapenda, 2008).
Elements of a Good Vision Statement
A good Vision Statement is supposed to "inform,...
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