Developing The Vision And Mission

The vision and mission address the second central question, 'Where are we going?' At the conclusion of the research and analysis stage, the firm will typically review its vision statement, mission statement and, if necessary, devise a new vision and mission for the outlook period......
At this stage, the firm will also devise a generic competitive strategy as the basis for maintaining a sustainable competitive advantage for the forthcoming planning period.
A vision statement is a realistic, long term future scenario for the organization. (Vision statements should not be confused with slogans or mottos.) A vision statement is designed to present a realistic long-term future scenario for the organization. It is a "clearly articulated statement of the business scope." A strong vision statement typically includes the following:

• Competitive scope
• Market scope
• Geographic scope
• Vertical scope

Some scholars point out the market visioning is a skill or competency that encapsulates the planners' capacity "to link advanced technologies to market opportunities of the future, and to do so through a shared understanding of a given product market.
A mission statement is a clear and concise statement of the organizations reason for being and its scope of operations, while the generic strategy outlines how the company intends to achieve both its vision and mission.
Mission statements should include detailed information and must be more than a simple motherhood statement. A mission statement typically includes the following:

• Specification of target customers
• Identification of principal products or services offered
• Specification of the geographic scope of operations
• Identification of core technologies and/or core capabilities
• An outline of the firm's commitment to long-term survival, growth and profitability
• An outline of the key elements in the company's philosophy and core values
• Identification of the company's desired public image