{"id":776,"date":"2015-01-17T18:00:42","date_gmt":"2015-01-17T18:00:42","guid":{"rendered":"https:\/\/thejuntoinstitute.com\/shop\/?p=776"},"modified":"2021-04-26T01:19:35","modified_gmt":"2021-04-26T01:19:35","slug":"what-a-companys-mission-is-and-why-it-matters","status":"publish","type":"post","link":"https:\/\/thejuntoinstitute.com\/shop\/what-a-companys-mission-is-and-why-it-matters\/","title":{"rendered":"What a Company’s Mission Is and Why It Matters"},"content":{"rendered":"[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid” bg_image_animation=”none”][vc_column_text]\n

In my opinion, a mission statement is a practical description of a company’s purpose\u00a0and its present state. It’s what the company does today and why it exists.<\/p>\n

This contrasts with the vision, which is not practical but idealistic and aspirational, and not the\u00a0current<\/em>\u00a0state but a desired\u00a0future<\/em>\u00a0state. The mission is focused on a verb or action and the vision is focused on a noun or thing. In my view,\u00a0the easiest way to distinguish the two is that the\u00a0mission\u00a0is “what we\u00a0do<\/strong>” and the vision is “what we will\u00a0be<\/strong>.”\u00a0Ideally, a mission statement is 1-2 sentences\u00a0that describes in very practical terms\u00a0what<\/strong>\u00a0the company does,\u00a0who<\/strong>\u00a0the company\u00a0does it for, and perhaps a few words on\u00a0how<\/strong>\u00a0the company does it.<\/p>\n

Some examples:<\/p>\n

    \n
  1. \n

    Google – Organize the world’s information and make it universally accessible and useful.<\/p>\n<\/li>\n

  2. \n

    eBay – Provide a global online marketplace where practically anyone can trade practically anything, enabling economic opportunity around the world.<\/p>\n<\/li>\n

  3. \n

    Warby Parker – Offer designer eyewear at a revolutionary price while leading the way for socially-conscious businesses.<\/p>\n<\/li>\n

  4. \n

    Facebook – Give people the power to share and make the world more open and connected.<\/p>\n<\/li>\n

  5. \n

    The Junto Institute – Make companies and their teams infinitely better, smarter, and healthier.<\/p>\n<\/li>\n<\/ol>\n

    Note how they all begin with a verb\/action item, are fairly practical and concise, and are focused on what the companies do in the present. Some include a reference or allusion to their market and\/or include the “how” of what they do.\u00a0And all of them are statements that can be used for marketing purposes, and are likely to appeal to target customers.<\/p>\n

    One question that comes up regularly about\u00a0mission statements is whether they should change over time. From my experience, during the\u00a0early- and growth-stage\u00a0years of a company, its core product or service, target market segment, and how they do business all change to varying extents. Therefore, I believe that the mission statement should\u00a0be reviewed and possibly revised every 1-3 years until all three factors stabilize.<\/p>\n

    In contrast, the vision statement for an early-stage startup is likely to be revised periodically but once it\u00a0begins to sustain its growth, I believe the vision should remain intact because, from my experience, what the company wants to\u00a0be<\/strong>\u00a0doesn’t change much.\u00a0Also, unlike the vision, which is about the company’s long-term ambition and mostly used internally, I believe the mission can be used for marketing purposes\u00a0since it\u00a0speaks to\u00a0the market. Therefore, it’s worth including in proposals, on a website, on business cards, etc.<\/p>\n[\/vc_column_text][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"

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