Strategic Mission, Vision and Core Values in HR Management

In the previous segment, you understood what strategy is in the context of business and organisations. As part of their strategy, firms come up with a vision statement and a mission statement and list down their core values. In the following video, our faculty Sandeep Nair will explain the role of a vision statement as an important management tool and delve into certain aspects of creating a vision statement.

In this video, you learnt that a strategic vision describes the top management’s aspirations for the company’s future and the course and direction charted to get there. Well-conceived visions are distinctive and specific to a particular organisation; they provide managers at all organisational levels with a reference point in making strategic decisions and preparing the company for the future.

An effectively communicated vision is a valuable management tool for enlisting the commitment of company personnel to engage in actions that move the company forward in the intended direction. 

In the following video, Sandeep Nair will dive deeper into the role of the mission statement and core values in an organisation.

In this video, you learnt that a firm’s mission statement describes the scope and purpose of its present business, i.e., who we are, what we do and why we are here. Next, you understood that a firm’s core values are the beliefs, traits and behavioural norms that its personnel are expected to display while conducting the firm’s business and pursuing its strategic vision and mission.

In the next segment, you will learn how to set strategic objectives and the different levels of strategy within an organisation.

Additional Content: 

1. Strategy Optician: Good & Bad Vision Statements by Lucidity: This article cites a few examples of good and bad vision statements.

2. The 9 Worst Mission Statements of All Time by Minda Zetlin: This article cites a few examples of bad mission statements.