Your personal mission, vision, and values

Several studies performed by the management consulting firm, Bain and Company have consistently shown that one of the most popular management tools used by companies today is the mission statement.  A good mission statement has been shown to correlate directly with engaged employees, achievement of strategic objectives, and company profits (for example, see one study here).  Defining a mission statement, along with developing a clear vision statement and shared set of corporate values, are a critical part of setting an organization's overall strategy for success.  But what is the difference between a mission statement and a vision statement?  Believe it or not, the difference is not intuitive.   Many organizations, from Fortune 500 companies to non-profit organizations and government agencies frequently use vision statements as mission statements, and vice versa.



A vision statement should define the optimal desired future state, i.e. what the organization would like to achieve over the long term (typically 5-10 years or even longer).  A company's vision should function as the "North Star" of what all employees and members of the organization strive to achieve.  The vision statement should be succinct but inspirational, such that every employee or member of the organization can repeat it verbatim at any point in time.  James M. Kouzes and Barry Z. Posner wrote an excellent article in the Harvard Business Review on how to write vision statements ("To Lead, Create a Shared Vision").  A mission statement, on the other hand, answers the "what, who, and how" of a particular organization.  The mission statement explains, again very succinctly, what the company does, who it does it for, and how it does what it does.  Again, the employees and members of the organization should be able to easily recall the mission statement, so writing a simple, succinct mission statement is imperative.  Finally, the core values are really the defining or principles that guide all of a company's actions.  A company's core values are sacrosanct - they should never be compromised ("Make Your Values Mean Something").  Core values help the employees to know what is right versus wrong and build upon the mission and vision statements.  Together, the mission, vision, and values help define the overall organizational strategy.  Importantly, a company's strategic objectives and goals should never deviate from the mission, vision, and core values.


I happen to believe that individuals should have their own personal mission, vision, and core values.  Just as the mission, vision, and core values of a firm helps its employees know the company's overall purpose and reason for being, a personal mission, vision, and values will help an individual develop his or her own professional career.  For example, if a new or unique job opportunity comes up, the first question that you should ask is whether that job opportunity fits with your overall mission, vision, and values.  If it does not, then you should not accept that job opportunity.  Similarly, if the job you are currently working on does not fit with your mission, vision, and values, there is a high likelihood that no matter how hard you work, your success will be limited.  We are motivated and driven to succeed because we believe in the job that we are doing - these beliefs absolutely have to be consistent with our personal mission, vision, and values.  There are numerous articles available that discuss the best approach to developing your personal mission, vision, and values statement.  I happen to like the following article in Forbes magazine ("Personal mission statement of 13 CEOs and lessons you need to learn").  Having a personal mission, vision, and values brings a certain focus and purpose to your life, both professionally and personally.  Your own mission, vision, and values will help you to become a better leader in the future.  What is your mission, vision, and values?