Vision and mission

What it means

Vision and mission are a company's two core strategic statements. The vision describes where the company wants to be in the long term and what state it is striving for. The mission explains why the company exists, whom it serves, what value it brings and how it works.

The vision looks to the future and is meant to inspire, for example to become the most trusted accounting partner for small businesses in the region. The mission is more concrete and concerns the present, for example to help entrepreneurs keep their numbers in order so they can focus on their business.

Both statements are the starting point of strategic planning. They help set priorities, decide which opportunities to pursue and which to decline, and explain to employees and customers what the company is aiming for and how it differs.

How it works in practice

A well-worded vision and mission are short, understandable and true. They should emerge from discussion among management and ideally employees, not just as marketing copy. It helps if they can be translated into concrete goals, for example through OKRs or a balanced scorecard.

Vision and mission are part of corporate culture and employer branding. In hiring they help attract people who share the company's purpose, and in decision-making they act as a compass when choosing between short-term profit and long-term direction.

When revising strategy, it is worth checking whether the vision and mission still reflect reality. Changes in the market, technology or the range of services may mean the original statements need adjusting. A SWOT analysis is a useful input.

What to watch out for

The most common mistake is generic phrases that any company could use, such as providing quality services and satisfying customers. Such statements distinguish nothing, and employees quickly stop taking them seriously.

A vision and mission that do not match the company's actual behaviour can do more harm than good. If a company proclaims a focus on quality but in practice pushes only for speed and price, employees and customers will quickly notice the contradiction and trust will fall.