Every business strategy starts with these three key elements. When it comes to strategic planning for your business, there are certain elements that rise above the rest in importance. While following the VMOSA (vision, mission, objectives, strategies, and action plans) guideline is a wise course of action, establishing the organization’s mission, vision, and values should be considered the foundation of the organization. Without these elements firmly established, it will be difficult to establish a sustainable business strategy.

Creating the mission statement

A mission statement essentially establishes why the organization exists by describing what it offers, who its product or services are intended to serve, and how it functions. The company’s mission should focus on what makes it stand out among other similar businesses, so describing why the organization is unique is essential. The statement should also establish how success will be measured. In creating a statement that establishes these two factors, the organization implies a goal or objective, which can also be included in the statement. The goal should be defined precisely in a way that allows it to be easily measured. Once all of these elements are included in the statement, it can be refined into a brief and clear message. As a whole, the mission statement can lead seamlessly to the organization’s vision statement.

Crafting a vision statement

The organization’s vision statement serves to set the direction for the company in that it attempts to set realistic objectives, which should be attainable within three to five years. The vision for the organization should establish the expected impact it hopes to have in the near future. The vision statement should also outline methods for attaining those goals that will inspire employees, stockholders, and consumers. For instance, this is an opportunity to emphasize the organization’s dedication to using green technology or conserving energy in its manufacturing processes. The vision statement should be crafted into a clear message that will motivate those within the organization and consumers to support the company. The organization’s vision should create an objective and a way of achieving that goal that will align with moral or ethical values that can be shared by others.

Setting the organization’s values

Establishing the values by which the organization will operate is also essential because these values will guide behavior and influence standard practices. A statement of values is the one thing that will not change over time, because it should reflect the core beliefs of the organization’s leaders. Values should define how the mission is carried out and they should be observable in every business practice employed by the organization’s personnel. A statement of values might address the organization’s dedication to quality, diversity, or establish its own accountability.

While crafting the company’s mission, vision, and values are essential to the launch of any business, it’s equally important to review these statements from time to time. As the business evolves, it will likely become necessary to revise these statements accordingly. Especially where the company’s vision is concerned, objectives will change over time and as new goals are attained. A periodic review can even help set a new direction for the organization, allowing it to remain competitive and relevant in the constantly changing marketplace.