The importance of vision, mission, and values to a company and how you relate to them
Mission, Vision, and You is a paper that goes over a company that I am familiar with and relates to my own experiences to help me determine the importance of the mission and vision of a business as well as the influence this may have on my own role. This paper will also explore the effects of a company not having a mission statement.
“The world is changing all around us. To continue to thrive as a business over the next ten years and beyond, we must look ahead, understand the trends and forces that will shape our business in the future and move swiftly to prepare for what’s to come. We must get ready for tomorrow today. That’s what our 2020 Vision is all about. It creates a long-term destination for our business and provides us with a “Roadmap” for winning together with our bottling partners.” (Coca-Cola Journey, 2017).
Mission Statements. “Our Roadmap starts with our mission, which is enduring. It declares our purpose as a company and serves as the standard against which we weigh our actions and decisions.” Their mission statement is “To refresh the world…To inspire moments of optimism and happiness…To create value and make a difference.” (Coca-Cola Journey, 2017).
Vision Statement. “Our vision serves as the framework for our Roadmap and guides every aspect of our business by describing what we need to accomplish in order to continue achieving sustainable, quality growth.” The rest of their vision statement is “People – Be a great place to work where people are inspired to be the best they can be. Portfolio – Bring to the world a portfolio of quality beverage brands that anticipate and satisfy people’s desires and needs.
Partners – Nurture a winning network of customers and suppliers; together, we create mutual, enduring value. Planet – Be a responsible citizen that makes a difference by helping build and support sustainable communities. Profit – Maximize long-term return to shareowners while being mindful of our overall responsibilities. Productivity – Be a highly effective, lean and fast-moving organization.” Coca-Cola Journey, 2017).
A mission and vision statement is an organization’s reason for existence. They are powerful tools that answer the question of who an organization is, what they value, and where they are going. A good mission statement inspires employees and provides a focus and direction for setting lower-level objectives. (David & David, 2017). Coca-Cola does a great job of fulfilling both of these. For example, they make a difference by helping build and support sustainable communities by using biodegradable plant-based materials for their water bottles.
The mission and vision statements would guide me as an employee in making decisions and to prosper and growing within the company. It would fill me with pride to work for a company that cares so much about people, whether it is for me personally, the community, the brand partners, or an ad for our earth. I would put forth more effort and work harder for a company like that.
The effects of not having a mission and vision statement would make it difficult for the organization’s stakeholders to know the organization’s direction. The employees would have no motivation, customers would not have a clear image, and there would be a low understanding of products. Without a master plan or an outline, the company can fall apart quickly. All of this would create problems for the organization and make it easier for its competitors to overrun them. (“The Importance of a Vision and Mission for Small, Medium-Sized and Large Businesses,” 2015)
Mission and vision are powerful tools that answer the question of who an organization is, what they value, and where they are going. Coca-Cola’s mission statement, “To refresh the world…To inspire moments of optimism and happiness…To create value and make a difference…” best describes what kind of company they are, want to create, and where they want to go in the future. The mission and vision statement leaves a clear message to their stakeholders. Without these, the business does not have a clear outline which causes employees to lose direction, the culture to fail, customers to lose, and ultimately the business to fail.
Coca-Cola Journey. (2017). Retrieved from http://www.coca-colacompany.com/our-company/mission-vision-values
David, F. R., & David, F. R. (2017). Strategic Management Concepts and Cases A Competitive Advantage Approach (16th ed.). Retrieved from The University of Phoenix eBook Collection database.
The Importance of a Vision and Mission for Small, Medium-Sized and Large Businesses. (2015).
South African Journal of Economic and Management Sciences, 7(2), 2222-3436. University of Phoenix database.
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The importance of vision, mission, and values to a company. Reflecting on this, what company’s mission, vision, or values do you personally relate to? Briefly describe the mission, vision, or values and explain why these appeals to you.
Entry must be at least 200 words in length. No references or citations are necessary.
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