Mission, Vision & Values

Explanation… This YouTube clip explains the difference between a company’s mission, vision and values – it uses the example of ‘Coca Cola’

Coca Cola mission, vision and values vision-values

Mission Statement: A mission statement attempts to capture what the business does and how the business works Gives a clear sense of purpose and may be accompanied by a list of the business’s (values may also be listed in the statement) The organisations mission, values and vision form key components of its business plan (a doc identified the process for achieving business goals)

Have a think… Does the Australian International School have a mission, visions and values statement? If you do not know – use your laptop to Google the school website

Mission, Visions and Values Communication of the mission, values and vision can be in the form of: Formal statements (annual reports) Websites Displayed in boardrooms, offices, staffrooms Logos on T-Shirts, coffee mugs etc

Continued… Effective communication of business vision or values is important for an open and unified culture Managers must ‘walk the talk’ – show by their behaviour and communication that they are implementing the mission, practicing the values and striving to achieve the vision

Activities… Page 13 Gloria Jeans Coffee – activities 1-2

Vision Statement In order to be strategic, companies need to visualize (imagine) what the business will be like in the future and strive to achieve this vision through a range of strategies Vision Statement: Where the company will be in perhaps 3 to 5 years time and what it will be doing, how successful it will be and how others will perceive it Vision statements are positive and inspirational with the intention of motivating managers and employees to strive to achieve the visions

Continued… Once vision has been developed, goals are identified to ensure vision can be achieved Goals are statements of direction that spell out how the vision will be achieved Objectives are identified for each goal – they are specific and should be written in a particular style They start with the word ‘To’ followed by an action verb They identify a single result to be achieved They specify a target date for completion or a time period for achievement

Continued… Example of company’s goals and specific objectives on page 16 of the text book Continue onto strategies straight from text book: Strategies identify the action that will be taken to achieve the objectives

Activities… Look at cases p Activities p.17 ‘The first Slice’ Q1 a-d ‘Job well done’ Q2 a-c

Have a think.. Think of a business you would like to own or manage or work for Create a mission, vision and values statement for this business Present this statement to the class and explain why you included the particular aspects Becomes HW if not finished in class – will present at beginning of tomorrow’s lesson