1. What are the mission, vision, and core values?
- Mission: This is the reason for the business's existence, expressing the purpose of its operations and the value it brings to customers, the community, and society.
- Vision: This is a picture of the future that the business aspires to achieve, expressing the organization's ambition and long-term development direction.
- Core Values: These are the basic principles, beliefs, and behaviors that a business always strives for, reflecting the organization's identity and culture.
2. Why is it necessary to determine the mission, vision, and core values for a business?
- Provides direction for operations and development: A defined mission, vision, and core values help businesses clearly define their goals, thereby enabling them to develop appropriate and effective business strategies.
- Attracts customers: Businesses can build trust and engagement with customers by demonstrating their commitment to values and the quality of their products/services.
- Builds reputation: A clear mission, vision, and core values help businesses assert their position in the market and attract potential investors and partners.
- Promotes sustainable growth: These factors stimulate the working spirit of employees, motivating them to contribute and develop the business together, ultimately leading to sustainable growth.
3. Process of Determining Mission, Vision, and Core Values
Step 1: Analyze the Current Situation
- Conduct a thorough analysis to identify the business's strengths, weaknesses, opportunities, and threats (SWOT analysis).
- Gain a deep understanding of customer needs and desires.
- Research the market and competitors to understand the competitive landscape.
Step 2: Determine the Mission
- Ask the core question: "What is the reason for your business's existence?"
- Craft a mission statement that is short, concise, memorable, and inspiring.
- Ensure the mission statement reflects the core values and long-term development direction of the business.
Step 3: Determine the Vision
- Ask the future-oriented question: "What does your business aspire to become in the future?"
- Develop a vision statement that is specific, clear, ambitious, and achievable.
- The vision statement should inspire and motivate all employees to work towards the company's future goals.
Step 4: Identify Core Values
- Define the fundamental principles, beliefs, and behaviors that guide the business's operations and decision-making.
- Ensure your core values accurately represent the organization's identity and desired culture.
- Core values should be aspirational but achievable, serving as a guiding light for all members of the business.
4. Illustrative Example
ABC Company - Manufacturer of Children's Toys
- Mission: Providing safe, high-quality, and educational toy products to children, contributing to the intellectual, physical, and social development of future generations.
- Vision: Become the leading children's toy brand in Vietnam and expand internationally, bringing joy and creativity to children around the world.
- Core Values: Safety, Quality, Creativity, Responsibility, Respect.
5. Call to Action
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As directors, CEOs, and business owners, you hold the power to shape your company's destiny. Defining your mission, vision, and core values is a crucial step in achieving long-term success and sustainable growth.
However, crafting these guiding principles requires careful consideration, open discussion, and buy-in from both leadership and your entire team.
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Conclusion
This article has equipped you with the knowledge and tools to define your mission, vision, and core values – the essential compass for guiding your business towards sustainable success. Remember, these guiding principles are the foundation for every decision you make. Take the time to invest in this crucial step and watch your business thrive.
We wish you all the best on your journey!