Imagine getting into work each day, filled with purpose and commitment. You know where your business is going (vision), you have a strategy to reach there (mission) and the prescriptive (values) on how to take your business to the next level. A company’s mission, purpose, and vision are at the core of the strategy to grow, as they define potential objectives and organizational tactics.
Although a company’s mission, vision, and purpose are frequently interchanged terms, they refer to three different aspects. So, let us see the difference between mission, vision, and purpose statements for an organization.
Understanding the Vision Statement of the Organization
While a company’s vision statement is more inclined to its tactical aspects, it aims at the company’s future. A vision statement defines the direction in which a company is steered. The vision statement is aligned with a company; together, it successfully develops an overall organizational strategy.
Get Ready to Create a Vision Statement for your Organization
What are your hopes and dreams?
What kind of future you’ve foreseen for your organization?
What is the role of a company in bringing that vision into reality?
Is your organization aspiring to achieve a specific transformation?
What is your plan to achieve the same?
When you look at ONPASSIVE’s vision statement: “ONPASSIVE is the ultimate, complete and unique digital Platform that ensures everyone to achieve success, regardless of their backgrounds or ability, by offering the simplest environment with the highest standards and the most value while sustaining the benefits of a global incentive plan.”
It shows that ONPASSIVE aims to offer a simple yet highest standard of a digital platform that allows everyone, regardless of where they come from and their ability to achieve it. It shows precisely where ONPASSIVE, as an organization wants to go in the future. A lack of vision is a path to nowhere for an organization, and moving without purpose would lead to instability of your business.
Understanding Mission Statements of the Organization
A company’s mission statement emphasizes its overall business, goals, and approach to reaching those goals. It would revolve more around the present state if a company and the tactical strategy outlined to achieve its objectives. The primary purpose of a company’s mission statement is to frame its culture as a whole.
When drafting a company’s mission statement, outlining what your business is doing and who you serve and how you’re going to achieve it would help you build an excellent mission statement. These are the three most essential ingredients of a company’s mission statement should hold to stand out from everyone.
How to Create a Company’s Mission:
What is your organization’s purpose?
Do you know the reason for your Company’s existence?
A company’s mission statement supports the vision of an organization. At the same time, it includes what it does, who the audience is, and how you will serve them to improve the service they’re receiving.
Understanding the Purpose Statement of the Organization
A purpose statement outlines the reason for existence as an organization. It illustrates why the organization was set up and why it is on the journey to achieve its said goal. The purpose statement of a company explains what can be improved globally and what opportunity it is looking for to achieve it.
How to Draft a Purpose Statement
Why does your organization exist?
How do you go about your purpose?
What is the outcome once you’ve started on your mission?
A purpose statement can be outlined with a founding story. Still, mostly it’s a declarative statement that provides the same clarification of values and how the existence of the organization upholds specific values. Ensure that you don’t miss a chance to engage your audience, stakeholders, and everyone in the company with your purpose statement to make them believe in what you and why you do.
Where Do We Go From Here?
We have the vision of an organization outlining ‘What.’
We have the mission of an organization outlining ‘How.’
We have the purpose of an organization outlining ‘Why.’
The critical misconception observed while building a company’s mission, a purpose statement, is viewing these as statements as concentric circles. The center of your circle is nothing but ‘People.’ Inside these circles lie people, the people in your grasp, the people working in your organization, or those you want to attract to your organization. People and their aspirations are at the core of your organization.
The statements of vision, mission, and purpose are beneficial for you and everyone in the organization, even the stakeholders, to understand what you can accomplish. These statements give them a reason to trust and align their interests with yours.
Your company needs to have a mission, something to stand for, and something it wants to strive to be successful. A clear mission and vision statement will set your sight on new goals and help you develop a plan to achieve them.