A Company’s vision, generally defined and drawn up by senior management of an organization is exactly what it is – a vision – a clear picture of how a company would want itself to be seen by its customers, suppliers, bankers, other companies and the public in general. It is stated in such a brief, concise and memorable way as to inspire and take the thinking of its management and staff beyond its day to day operations. Ericsson, an international corporation engaged in providing communications tools and equipment, software and services, states its vision as “The prime driver in an all-communicating world.”
Then, there’s what is known as a Company Mission. It is what describes what the company is all about, what it is now and what it isn’t and projecting this into the years to come. Its aim is to have a key focus for its people .It defines its mission by the nature of its work or business, the clients it caters to and the level of service it provides. If it were an advertising agency, its mission would be something like “We’re in the business of providing strong communications plans and strategies to consumer goods manufacturers (or service providers) for their brand or company to become dominant players in the retail market.”
Core Values of a company describes its desired corporate culture. It serves as a set of principles or a code of ethics within which a company’s management and over-all workforce conduct themselves in and outside of their workplaces. This would generally touch on morality, high standards of professionalism on the job, respect for others and self discipline, control and over-all right behavior.
So, what is Purpose all about? How does it differ from a company’s vision, mission or core values?
A company purpose is something that states what an organization does for its customers and clients. But this goes beyond simply satisfying customers and understanding their needs. REA Group, a real estate consultancy firm defines its purpose as … “To make the property process simple, efficient and stress free for people buying and selling a property.” IAG, the internationally known insurance company words its purpose as … “To help people manage risk and recover from the hardship of unexpected loss.”
When you start working out your Statement of Purpose, remember to put yourself in your customers’ shoes. Think of something that is motivational and will connect with the heart and mind. It is not about you or your company, It is something you do for someone or some group.
A company vision, mission or core values … you’ll see them in most establishments. In many ways they help to project a company in a more positive light as their management and staff live out the words. A company purpose is a more enduring statement because it doesn’t just state what’s good for the company, it is something that professes something it does for someone outside of the company.