ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel
  • »
  • Business and Employment»
  • Business Management & Leadership

Guiding A Company To Achieve Future Success

Updated on August 7, 2014

Three important parts in defining the strategic direction of a company.

 

The mission, vision and values of a company are important to determine the strategic direction for the company’s future business operations. The mission is a guide and reminder to the shareholders and stakeholders of the company’s goals and objectives. The vision is the optimistic views and goals of what the company plans to become in the future. The values of the company are the attitudes, beliefs, perceptions, and views that will help the company to accomplish their mission and vision. Culture, social responsibility, and ethics are very important factors in influencing the company’s values. Customer needs are an important factor for a business to evaluate and implement into strategic business decisions. Companies need to create a competitive advantage over other companies for their products and services to compete in the markets. Companies should define, analyze, and evaluate each of these major factors to define the strategic direction the company wants to move in. Each factor will represent new goals and achievements for a company to pursue along their journey of making their vision come true.

The purpose of the mission statement.

 

The statement will be a constant reminder to the employees of the company that they are working to obtain the goals of the clients and not their own personal agendas. The mission of the company sets the strategic direction the company wants to follow. Clients are what make the business successful and catering to their needs is the way to retain loyal clients. Retaining loyal customers is cheaper than trying to attract new customers. Advertising by word of mouth is more effective and less expensive than expensive advertising campaigns through the media outlets. Customer satisfaction will promote the company in a positive light and attract new clients. The mission statement makes it clear to the shareholders and stakeholders the companies objectives and goals and the path that needs to be followed to accomplish these objectives and goals.

The purpose of the vision statement.

 

The vision will inform the customers where the management believes the company will be in the future. This is a tall order and work needs to be done to ever reach this goal. The best way for a company to reach such a lofty goal is to set a bunch of short-term goals that will lead up to the vision. By setting smaller goals the company will not become overwhelmed by the pressure of the obtaining the main goal. The vision will represent the strategic direction the company wants to operate in the future. Achieving short-term goals and objectives will make the plan possible. The vision gives the employees a target to reach for and to understand the direction the company wants to operate the business. The vision should motivate employees and customers to remain loyal because the benefits of accomplishing such a task will be rewarding. For the company to realize the vision they will have to be successful for many years and that will create longevity in employment, returns on investment, and financial success. The shareholders and stakeholders will both benefit from the success.

A company’s values.

 

The values of a company should include honesty, integrity, loyalty, ethical behavior, and goal oriented motivation. The values need to be practiced from the top management to the lowest employee. Managers must act and behave in accordance of the values to show each employee the importance of the values. Employees who do not believe in the values and refuse to demonstrate their understanding of them need to be dismissed. Everyone who works at the company will have to make decisions and implement strategies using the values as the foundation of his or her ideas. A code of ethics is an important part of creating values for a company. Having a code of ethics visible for employees to read and learn will eliminate any excuses for not following the company’s values. Reputation to a firm can take a long time and become very expensive to fix if there is negative news regarding the company. Practicing the values in every decision or implemented strategy will help the company to achieve goals and move in the right direction to complete goals and company objectives.

The strategic direction of a company.

 

The mission, vision and values of the company are important factors to achieving the strategic direction of the company. The mission indicates how the company will achieve their goals. Making the customers part of the mission reminds the company who they are achieving goals for. The mission serves as intermediate goals for the employees to follow and achieve the main goal that is the vision. The vision is the idea of the company and its operations in the future. The only way to make the vision possible is to complete the goals and objectives efficiently as possible. The values will serve as the foundation of the business and become the driving force behind strategic planning and management. Demonstrating the values to the employees and enforcing the policies behind the values will have everyone working in the same direction. The company needs everyone working in the same direction to make the mission and vision relevant.

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: "https://hubpages.com/privacy-policy#gdpr"

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)