Process: The Foundation
Mission | Vision | Values | Culture
Failure to clearly articulate the foundation documents negatively effects a company's recruiting, strategy, execution, and customers.
Mission-Driven companies consistently out-perform those that are not.
- A Mission Statement is a declaration of an organization's core purpose and focus.
- A Vision Statement describes an organization's aspirations.
- Core Values are operating philosophies or principles that guide an organization's internal conduct as well as its relationship with its customers, partners, and shareholders.
- Culture is the traditions, customs, and behavioral ideals that predominantly influence employees’ behaviors.
Mission and Vision drive the setting of goals, stragtegy, and objectives while providing a compass for decission making. Values and Culture are about the people that make up and organization and how they execute.
Benefits of a Clear Foundation
- Align Corporate and Product Mission and Vision
- More effective product strategy
- Improved product decision making
- Leverage corporate strengths to maximize product success
- Better customer experiences
NEXT: Continuous Innovation