Benefits of planning + Mission and Vision of Statement (Unit 5)

Question 1

What is a mission statement?

Answer 1

• Description of what an organization actually does - what its business is - and why it does it
• Personal mission statement → a description of what’s important to you and can help guide you towards a decision or goal

Question 2

What are corporate mission statement?

Answer 2

Creating a mission statement -
- What customers do you intend to serve?
- What products/services do you intend to provide?
Where do you intend to operate?
- Who is your mission statement directed at? (Employees, customers, shareholders, the community?)

Creating a personal mission statement -
- Determine your purpose
- How do you aim to achieve that purpose?
- Consider your goals
- Find inspiration (Can be people you look up to)
- Ask yourself questions (Where do I want to be in 5-10 years?)
- Ex. “To serve as a leader, live a balanced life, and apply ethical principles to make a significant difference.”

Question 3

What is a vision statement?

Answer 3

• Company’s road map, indicating both what the company wants to become and guiding transformational initiatives by setting a defined direction for the company’s growth
• Sounds like: What does our business want to become?

Question 4

What is a personal vision?

Answer 4

• Helps define overall essence of what you want to achieve and become in your personal life
• Sounds like: “What type of person do I want to become in the future?”
• Ex. UNICEF’S VISION: A world where the rights of every child are realized. In everything we do, we work to achieve a world where all children, especially the most vulnerable and disadvantaged, have equal opportunities to survive and thrive