Each organization needs a clear vision, mission, goals, objectives, and long-term strategies to make their business a movement. These statements help in outlining the organization’s future. Also, create a mental image of the organization. But many professionals use these terms interchangeably. They mixed up meanings and create confusion. In this blog, I will discuss to burst the differences between these terms.
Vision, Mission, Objectives, Strategies, and Tactics – These are 5 statements which form the two aspects of the business-
Organizations gain real strength when these statements show:
It implies that there should be an alignment between these statements. You can ensure this alignment by the assessment of:
If your assessment says “Yes” on the above-mentioned parameters- it significantly ensures internal organization capability.
And, if any of the above is lacking, then there is a potential of weakness. This weakness limits and undermines organization success. These statements are vital in assessing the internal capabilities and limitations of the organization.
Let’s see how these statements create a foundation of organization Success? I am beginning with the comprehension of these statements.
A vision is a Big Picture of “What” the organization wants to achieve in Future. It should inspire people in the organization. It excites people to be part of “What.” And, also motivate to put their energy and time to achieve the future. How do you write a good vision statement? What does a vision stamen include? Let’s take an example of an agriculture business:
“A Vibrant Economy is driven by value-added agriculture” Here the Vibrant Economy has the ability to inspire the people involved in this agricultural business. A good vision statement inspires to create a movement. It describes the desired outcome to invoke a mental image of the organization.
A Mission is about what the organization does to achieve the vision. A mission is an action statement to achieve the vision. A mission statement is not required to be inspirational. Instead, it provides a clear focus on what an organization does and what it doesn’t.
What should be included in a mission statement? What do you think a good mission statement can look like for the above vision statement?
Let’s see the below example…
“To create and facilitate the development of value-added agriculture”
Here “Create and facilitate” are two clear focus areas. The organization put its energy into these two areas. The organization makes efforts for the development (Create) and to ease (facilitate) the agriculture business. And, whatever is not mentioned here, the organization is not involved. It is a clear direction about what the organization does and what it doesn’t.
A mission statement is simple, direct and operative. Now the question is – how do you write a powerful mission statement? What makes an effective mission statement? Let’s see the following characteristics of a good mission statement:
So, what kinds of resources needed for the mission statement mentioned above for the agriculture business?
A mission statement should help to understand:
For example, mission statements like “Increasing customer satisfaction”. Well, it is impossible, anyways – does it provide to which industry a mission belongs to? Or what the organization controls? The answer is no, and hence we cannot claim it as a mission statement. An organization should try to find out a mission statement, which can drive them.
Goals are statements of mileposts to achieve the vision. Goals describe – what you want to achieve through your efforts.
And, an objective is a time-sensitive statement to achieve the goals. We defined it in measurable terms.
Goals for the above-mentioned vision of agriculture business can be defined as, but not limited to:
A goal is a broad definition, saying “improve profitability”. It lacks the specifics and defined in general and broad terms. Objectives, on the other hand, are quite specific and further define the goal. To continue with ‘profitability’ example, objectives can be defined as:
15k$ net profit as % of the sale in a year
10k$ net profit as % of investment in a year.
Here, the question is – How do you set a good objective. What are the smart objectives used for? Well, while explaining, objectives a SMART acronym is commonly used:
So without question, goals and objectives are similar (not same) and complement each other. With goals, there is no pressure to be specific, and in fact, goals are open-ended. Setting goals are useful as a broad outline. Yet, due to its fundamental nature of being broad and open-ended, these are not the ideal way to achieve something.
Whenever you want to achieve something – define a goal and then set a series of objectives to achieve those goals.
To summarize goals are broad direction setting statements, objectives are more specific. And both are designed to get you to take action.
Strategies are long term implementation plans to achieve the goals and objectives. These statements define how you can succeed in achieving your mission and stay along in the completion. Strategies are likely to be defined following a SWOT analysis as both external and internal environment assessment is needed as an input to develop strategies.
How do you write an organizational strategy? Strategic options may include:
Example strategic options like:
These are examples of strategies to achieve goals and objectives.
A strategy like- design social media promotion for the next year can be identified for the above-mentioned objectives. We can define one or many strategies for a combination of goals and objectives.
Tactics are short term implementation or action plan to deliver the long-term strategy. A grass-root level action plans are defined to ensure daily activities are in line with achieving the relevant strategy(s).
Tactics like a sales staff member are expected to do 10 social media activity daily, could be an example to deliver a long-term strategy.
Once you have defined all these 5 (Vision, Mission, Objectives, Strategies, and Tactics) statements, you will have the foundation of your business. For this reason, we need to know that these five statements are open acted with each other.
You use these statements to assess the internal capabilities and limitations of an organization. Also, you examine these statements for their completeness, clarity, and awareness within organizations. If these qualities are missing, then you need a change to solve the identified organizational level internal weakness.
These statements should provide a clear focus and direction and should serve as an internal strength for the organization.
You may watch and listen to the following video presentation on the difference between Vision, Mission, Objectives, Strategies, and Tactics. This video will give you a walkthrough to write a good vision, mission, goals, and objectives, and will provide you with a fair idea of how these are related to others:
I hope this blog has answered your all queries related to Vision, Mission, Objectives, Strategies, and Tactics. Good Luck with your PMI-PBA® Certification Exam. Good Luck with your PMI-PBA® Certification Exam. Our online course gives you the best value for money and comes with end to end 24/7 trainer support.
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