Strategy – Mission & Vision

People say organizations should have Mission statement, Vision Statement, etc. I say everything boils down to only one word – Purpose.

To better understand these things, I took a small example of a person who wants to shift his career from IT to Marketing. Let us see these things from his perspective:

MISSIONWhy does the student wants to go from IT into Marketing?

VISIONWhat does he want to become in Marketing?

STRATEGYHow does he want to become what he wants to become in Marketing?

STRATEGIC OBJECTIVESHow does he break his strategy into different objectives?

SUCCESS/FAILURE INDICATORSHow does he know whether he succeeded or not? What are the performance indicators?

This sort of strategic thinking is the same even for an organization or an individual. Of course, with changing situations, environment, operational, financial, competitive, etc. you actually change your strategies. So, strategy is all about Purpose and Future Thinking.

It is about where are you now, where do you want to go and why, and how do you want to go and why?