Vision, Mission, Value (With Examples and Tips) | From A Business Professor — Transcript

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1. 0:00hello everyone welcome to business
2. 0:02school 101 when starting a business you
3. 0:05should have a clear picture of the
4. 0:06problem you're solving how you plan to
5. 0:08resolve it and which values drive your
6. 0:10team and hook customers to attract top
7. 0:13talent and ensure your idea is viable to
8. 0:15stakeholders you need to be able to
9. 0:17reduce these Concepts down to a simple
10. 0:19Mission Vision and value statement in
11. 0:22this video I'll explain what firm's
12. 0:24vision mission and value statements are
13. 0:26and provide you with some real world
14. 0:28examples and tips to help you better
15. 0:30craft your own statements
16. 0:33Section 1 vision statement the vision
17. 0:37statement describes the future of the
18. 0:39organization it reveals what the company
19. 0:41aspires to be or hopes to achieve in the
20. 0:43long term the vision statement is not
21. 0:45only inspirational and motivational but
22. 0:47also provides Direction mapping out
23. 0:49where the organization is headed in this
24. 0:52regard it serves as a guide for choosing
25. 0:54current and future courses of action an
26. 0:56effective vision statement should be
27. 0:58concise futuristic realistic
28. 1:00aspirational and inspirational it
29. 1:03shouldn't be generic but rather focus on
30. 1:06outcomes specific to the organization
31. 1:07here are a few real-world examples of
32. 1:10companies vision statements first
33. 1:12Microsoft's vision statement is to help
34. 1:15people throughout the world realize
35. 1:17their full potential
36. 1:18second as a traditional technology
37. 1:20company IBM's vision statement is to be
38. 1:24the world's most successful and
39. 1:25important information technology company
40. 1:28last Nike as the world's top
41. 1:30manufacturer of sports equipment its
42. 1:32vision statement is bring inspiration to
43. 1:34every athlete in the world and make
44. 1:36sport a daily habit
45. 1:38here are some tips for writing the
46. 1:40vision statement tip 1 outline the
47. 1:43basics ask yourself questions like what
48. 1:45are the highest level of achievements
49. 1:47your company wants to fulfill what is
50. 1:49your company's long-term goal write down
51. 1:51your answers to these questions can help
52. 1:53you form your vision statement
53. 1:55tip 2 speak to your employees one of the
54. 1:58primary goals of your vision statement
55. 2:00is motivating your team because they
56. 2:02will be carrying out your vision so it
57. 2:05should speak to them try brainstorming
58. 2:07with your employees to get a better
59. 2:08understanding of what drives your
60. 2:10Workforce
61. 2:11tip 3 be ambitious be bold and ambitious
62. 2:14in your vision statement to inspire
63. 2:16potential stakeholders in the scope of
64. 2:18your vision also be realistic about what
65. 2:21goals you can promise you'll meet
66. 2:23tip 4 keep it short a vision statement
67. 2:26should be concise enough for your
68. 2:28employees to remember consider your
69. 2:30vision statement an extended tagline and
70. 2:32make sure it's no longer than one
71. 2:34sentence
72. 2:35tip 5 make it unique you want your
73. 2:38vision statement to address how your
74. 2:40organization is the only one that will
75. 2:41be able to meet that specific goal even
76. 2:44if other companies technically offer the
77. 2:46same or similar service your unique goal
78. 2:48will differentiate you from the pack
79. 2:51section 2 mission statement
80. 2:54the mission statement defines an
81. 2:56organization's purpose or reason for
82. 2:58being it guides the day-to-day
83. 3:00operations of the organization
84. 3:01communicates to external stakeholders
85. 3:04the core Solutions the organization
86. 3:05provides in society and motivates
87. 3:07employees toward a common near to
88. 3:09medium-term goal in short the mission
89. 3:12statement paints a picture of who the
90. 3:13company is and what the company does
91. 3:16a good mission statement should only
92. 3:18focus on what is most important to the
93. 3:20organization it should be brief clear
94. 3:23informative simple and direct it should
95. 3:26avoid elaborate language cliches and
96. 3:28generalizations and it should emphasize
97. 3:30outcomes and the people the organization
98. 3:32is serving here are a few real world
99. 3:35examples first as one of the most famous
100. 3:38electronic vehicle brand Tesla's mission
101. 3:40statement is to accelerate the world's
102. 3:43transition to sustainable energy
103. 3:45second LinkedIn as a business and
104. 3:47employment-oriented online service
105. 3:49company its mission statimist is to
106. 3:52connect the world's professionals to
107. 3:53make them more productive and successful
108. 3:55last papal an American multinational
109. 3:58Financial technology company its mission
110. 4:01statement is to build the web's most
111. 4:03convenient secure cost-effective payment
112. 4:05solution
113. 4:07Forbes suggests that there are four
114. 4:09essential questions a company's mission
115. 4:10statement should answer
116. 4:12what do we do
117. 4:14how do we do it
118. 4:15whom do we do it for
119. 4:17what value are we bringing if you have a
120. 4:20mission statement make sure it can
121. 4:22answer these questions it makes all the
122. 4:24difference
123. 4:27Section 3 value statement
124. 4:30the values statement highlights an
125. 4:32organization's core principles and
126. 4:34philosophical ideals it is used to both
127. 4:36inform and guide the decisions and
128. 4:38behaviors of the people inside the
129. 4:40organization and signal to external
130. 4:42stakeholders what's important to the
131. 4:44company an organization's core values
132. 4:46shape daily culture and establish
133. 4:48standards of conduct against which
134. 4:50actions and decisions can be assessed a
135. 4:52values statement should be memorable
136. 4:54actionable and Timeless the format of
137. 4:57the values statement depends on the
138. 4:59organization some organizations use one
139. 5:01two or three words to describe their
140. 5:03core values While others provide a short
141. 5:06phrase
142. 5:07here are some real world examples
143. 5:09first Disney's values include openness
144. 5:12honesty Integrity courage respect
145. 5:16diversity and balance
146. 5:19second zoom's values include care for
147. 5:22Community customers company teammates
148. 5:24selves
149. 5:26airbnb's values are be a host Champion
150. 5:29the mission Be A Serial entrepreneur
151. 5:31embrace the adventure
152. 5:33here are some tips to create a value
153. 5:35statement tip 1 gather ideas by seeking
154. 5:38input from Key stakeholders at your
155. 5:40organization
156. 5:41tip 2 select core principles that best
157. 5:44reflect your organization's values
158. 5:47tip 3 think of examples of how your
159. 5:49chosen values affect the company's
160. 5:51actions
161. 5:52tip 4 write up your value statement and
162. 5:55clear concise terms and seek feedback
163. 5:58tip 5 think about where you will display
164. 6:01your value statement
165. 6:04section 4 differences in summary
166. 6:07sometimes it's easy to confuse a values
167. 6:10statement with a mission statement and
168. 6:12vision statement but they reflect three
169. 6:13very different aspects of who you are as
170. 6:15a business vision statements are
171. 6:17forward-looking statements that state
172. 6:19what an organization is striving to
173. 6:21achieve it should Inspire current and
174. 6:23prospective employees and customers by
175. 6:25showing its aspirations as an
176. 6:27organization in contrast mission
177. 6:29statements are action-based statements
178. 6:31that declare the purpose of
179. 6:32organizations and how they serve their
180. 6:34customers this sometimes includes a
181. 6:36description of the company what it does
182. 6:38and its objectives the values statements
183. 6:41highlight an organization's core
184. 6:42principles and philosophical ideals in
185. 6:45essence it is the moral direction of the
186. 6:47organization that guides how it works
187. 6:49makes decisions and takes action
188. 6:51to sum up Mission Vision and value
189. 6:54statements serve as the foundation for
190. 6:56an organization's strategic plan they
191. 6:59convey the purpose Direction and
192. 7:01underlying values of the organization
193. 7:03when developed and implemented in a
194. 7:05thoughtful and deliberate manner these
195. 7:07statements can serve as powerful tools
196. 7:08that provide organizations with
197. 7:10meaningful guidance especially in times
198. 7:12of Rapid change consequently taking the
199. 7:15time to craft relevant Mission Vision
200. 7:17and value statements should be carefully
201. 7:19considered
202. 7:20all right that's all for today's topic
203. 7:23so which company's vision mission or
204. 7:26value statement inspires you the most do
205. 7:28you have any questions about writing
206. 7:30your own please leave your thoughts or
207. 7:32questions in a comment below I hope that
208. 7:34you guys have enjoyed this video and if
209. 7:36you did make sure you give it a thumbs
210. 7:38up and subscribe to my channel thanks
211. 7:40for watching and I will see you next
212. 7:42time