Business strategy is one of the most important things for a company. Some companies have a vision statement, a mission statement, followed by strategies to achieve the mission and implemental tactics to meet the strategy.
The basic premise is that people understand what they are working towards and why. Focus and clarity are the keys.
Guy Kawasaki suggests the use of simple mantras to provide direction rather than 60+ word MBA written, jargon-filled mission statements.
A mission statement that doesn't provide focus or clear direction does what exactly?
Here are some mission or vision statements from some companies. Tell me if you know what they're doing. Do they provide direction?
3M is a diversified technology company with a worldwide presence in the following markets: consumer and office; display and graphics; electro and communications; health care; industrial and transportation; and safety, security and protection services. What makes us so diverse is our ability to apply our technologies often in combination to an endless array of customer needs.
At IBM, we strive to lead in the invention, development and manufacture of the industry's most advanced information technologies, including computer systems, software, storage systems and microelectronics.
Alliance Data partners with its clients to develop unique insight into consumer behavior. We use that insight to create and manage customized solutions that change consumer behavior and enable our clients to build stronger, mutually-beneficial relationships with their customers.
Great companies will call Alliance Data first to create more loyal and profitable customer relationships.Ultimately, simply having a defined mission, vision or mantra is not enough. You need direction and a clear objective so you can tell if you are getting closer or further from your goal.