BUSINESS ENTERPRISE SIMULATION Prof. Juancho M.

Babista

Module 03
VISION and MISSION

Imagine going to work each day, full of purpose and conviction.

You strongly believe in your organization's values, and you are passion-
ately committed to its mission. Because you understand the good that
your business does in the community, you love what you do. You are
happy to come to your office or store, and you put your heart and soul in-
to your work, because you know it matters. You act in line with those
principles and keep one another in check every day. People can be genu-
inely inspired if their organization has a compelling vision and a clear,
worthwhile mission strengthening the company values; and these can be
powerfully expressed in well-crafted mission and vision statements.
At the end of this module, you are expected to:
1. gain understanding of the vision and mission statements of a
company;
2. value the importance of vision and mission company; and
3. formulate vision and mission statements for the intended
business enterprise simulation.
Vision and mission statements are important
for a strategic direction. Formulating these helps the
employee know the purpose of its existence and core
values on which it is governed. It is an integral part of
a company's strategy that helps to set priorities, allo-
cate resources, and ensure that everyone is working
towards common goals and objectives, thus providing
a road-map to the future. Therefore, the vision and
mission statements of a company can be compared to
a compass that serves as guide to wherever the busi-
ness wants to achieve.
A company’s success, a lot of it, depends on its
vision and mission statements. They have certain “To be earth’s most customer-
core elements that drive an organization to the height centric company; to build a place
it aims at reaching. Creating correct statements for where people can come to find and
your business that suits your trade and work area discover anything they might
should be on top priority. want to buy online.”
“Our mission is to continually
Though it takes a lot of brainstorming ses- raise the bar of the customer expe-
sions to draft a vision and mission statement, if fol- rience by using the internet and
lowed these steps, creating them is easier. technology to help consumers find,
1. Know the purpose of your organization. discover and buy anything, and
Before drafting the vision and mission empower businesses and content
statements, you should be completely aware of creators to maximize their success.
the purpose of your organization. We aim to be Earth's most cus-
tomer centric company.”

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BUSINESS ENTERPRISE SIMULATION
An organization’s purpose is solely based
on its core values and a philosophy that dictates
it. Note your values, beliefs, and purpose is set.
2. Note your strengths.
To become successful, you must know
your strengths. To discover your strengths:
a. Take your employees perspective on your
company.
b. Consider improvement opportunities from
time to time
c. Sometimes explore beyond your horizons.
d. Identify factors that influence your business.
By knowing your strengths, you can im-
prove even better and get a better vision for your
organization. You can set your next targets ac-
cordingly.
3. Project a five-year plan.
Now, you know your company’s purpose
and strengths. Setting up goals becomes easy for
you. You can now write your vision and mission
statement based on the analysis of these. To have
a proper vision and mission statement, you
should be specific, measurable, attainable, rele-
vant, and timebound. Determine your five-year
plans such as business expansion or startup ide-
as based on this information.
4. Draft your statements.
Your vision and mission statements are
for everyone who is associated with your organi-
zation in one way or another. It should be concise,
simple, and should be easily memorized.
The core elements while drafting an effec-
tive vision and mission statement are:
a. clarity,
b. being specific,
c. being attainable,
d. unique, and
e. being an inspiration to people within and out-
side the organization.
Vision Statement
A vision statement is a description of what the
organization aspires to be in the long term. A compa-
ny vision statement must align with its mission, stra-
tegic planning, culture, and core values. It is not only
used in business, as nonprofits and government offic-
es also use them to set strategic goals. It directs
where the company is heading.
The vision statement focuses on the organiza-
tion’s goals and aspirations, which describes how the
future will look if the company achieves its mission.
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Prof. Juancho M. Babista
To bring inspiration and innova-
tion to every athlete in the world.
Our mission is what drives us to
do everything possible to expand
human potential. We do that by
creating groundbreaking sport
innovations, by making our prod-
ucts more sustainably, by building
a creative and diverse global team
and by making a positive impact
in communities where we live and
work.
We excel in providing great tast-
ing food that meets local prefer-
ences better than anyone. We pro-
vide superior dining experience,
through FSC (Food, Service,
Cleanliness) excellence in every
encounter.
To serve great tasting food, bring-
ing the joy of eating to everyone.
To treat people like family, and
they will be loyal and give their
all.”
To inspire and nurture the human
spirit – one person, one cup and
one neighborhood at a time.
To craft the brands and choice of
drinks that people love, to refresh
them in body & spirit. And done in
ways that create a more sustaina-
ble business and better shared fu-
ture that makes a difference in
people’s lives, communities and
our planet.
To inspire moments of optimism
and happiness... To create value
and make a difference.
BUSINESS ENTERPRISE SIMULATION Prof. Juancho M. Babista

A vision statement is also timeless. Therefore, even if

the business changes its strategy, the vision will often
stay the same. A realistic, credible, and attractive vision
statement attracts commitment and energizes its people.
The vision statement is designed to be uplifting
and inspiring. In addition, a well thought out vision Apple strives to bring the best
statement bridges the present with the future while es- personal computing experi-
ence to students, educators,
tablishing a standard for excellence. It also communi-
creative professionals, and
cates the purpose of the organization to the employees consumers around the world
and other stakeholders and provides them with the inspi- through its innovative hard-
ration to achieve that purpose. Some even say that when ware, software, and internet
a company experiences moments of struggles, the vision offerings.
statement serves as energizer.
To bring the best personal
A vision statement is the anchor point of any stra- computing products and sup-
port to students, educators,
tegic plan. It outlines what an organization would like to
designers, scientists, engi-
ultimately achieve and gives purpose to the existence of neers, businesspersons and
the organization. consumers in over 140 coun-
tries around the world.
Bear in mind that a vision statement must be
well-written. It should be short, simple, precise, and spe-
cific to your business. Those who will read your vision
statement should find it clear enough that nothing is left
open for interpretation. It should also have some ambi- Innovate to bring therapies to
tion, which simply means your intended value in the patients that significantly im-
business and marketing world. prove their lives.” It places an
emphasis on the innovation
A company's vision is the long-term, idealistic
principle as the driving force
state of the future that does not exist yet. It is an inspir- towards impacting a change
ing, rallying cry that invites everyone who believes in it to in its clients.
contribute and become a part of it.
To be the world's most valued
It does not mention the company or any of its company to patients, custom-
products. It is specific enough for people to view it with ers, colleagues, investors,
their mind’s eye and commit to it. But not so specific that business partners, and the
it limits the company’s activities or falls apart when tech- communities where we work
and live.
nological advancements or political changes occur.
As a result, a vision statement is an affirmative
statement that doesn’t exclude anyone who wants to con-
tribute. It focuses on the betterment of the world and its To provide access to the
people, inspiring people by instilling hope and optimism. world's information in one
A company’s vision is unique, but it could fit anyone in click.
the same industry. It’s set in stone and does not change. To organize the world’s in-
formation and make it uni-
Purpose of a Vision Statement versally accessible and useful.

Writing a company vision statement will help us

achieve the following objectives. However, we must re-
member that not everything will apply to every organiza-
tion but just the gist and apply whichever is necessary.
1. To create the pinnacle of the funnel, which every sig-
nificant action we do going forward will ultimately be To be the world’s best quick
contributing towards. service restaurant experience.
2. To formulate a memorable and inspirational sum- Our mission is to make deli-
mary that describes the company’s reason for exist- cious feel-good moments easy
ence as an organization. for everyone.

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BUSINESS ENTERPRISE SIMULATION Prof. Juancho M. Babista

3. To serve as constant reminder that will help to moti-

vate existing employees and even attract high-quality
new ones.
4. To provide a succinct statement about what our or-
Helping content creators
ganization is trying to achieve to help third parties around the world to find a
such as investors or the media better understand us. global audience.
5. To have a regulator or controller that will help us to
We promise our customers
rule out certain opportunities which do not ultimately
stellar service, our suppliers a
contribute to our vision. valuable partner, our inves-
6. To act as a reminder and a sense of hope for an or- tors the prospects of sustained
ganization during the tough times. profitable growth, and our
employees the allure of huge
Steps in Writing a Vision Statement impact.
When you are writing an essay, much can be said.
However, a vision statement should provide all the in-
formation using minimal sentences. A well-written vision
statement should be short, simple, specific to your busi- We are the most respected,
ness, leave nothing open to interpretation. It should also undisputed leader in the Phil-
have some ambition. ippine broadcast industry and
the recognized media innova-
Here are the steps in writing a vision statement: tor and pacesetter in Asia.
1. The output
We enrich the lives of Filipinos
Define what you do as an output. everywhere with superior En-
2. The twist tertainment and the responsi-
Define what unique twist your organization ble, unbiased, and timely de-
livery of accurate News and
brings to the above outcome.
Information.
3. The quantification
Apply some high-level quantification.
4. The human connection. To become the worldwide
Add relatable, human, 'real world' aspects. leader of all retailing.
Identify your organization's mission. Then uncover To save people money so they
the real, human value in that mission. For example, can live better.
how does your organization improve people's lives?
How do you make the world a better place?
Identify what you, your customers and other
stakeholders value the most about how your organi- To be the most successful and
zation will achieve this mission. Distill these into val- respected car company in
ues that your organization has, or should have. Some America.
examples of values include excellence, integrity, To attract and attain custom-
teamwork, originality, equality, honesty, freedom, ers with high-valued products
service, and strength. and services and the most sat-
isfying ownership experience
Guidelines in Writing the Vision Statement in America.
Now that you are familiar with the procedures in
writing a vision statement, let us tackle some guidelines
in writing it to arrive at a concise but meaningful compa-
ny vision.
1. Keep the vision statement short. To bring consumers safe,
Write it with two sentences at an absolute high-quality foods that
maximum. It is fine to expand on your vision state- provide optimal nutrition.
ment with more details, but you need a version that is
punchy and easily memorable. Good Food, Good Life

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BUSINESS ENTERPRISE SIMULATION Prof. Juancho M. Babista

2. Make it specific.
It needs to be particular and distinct to your
business. Likewise, it should describe a unique out-
come that only you can provide. Generic vision
statements that could apply to any organization will
not do your company good.
3. Refrain from using ambiguous language. To develop leaders who will
Do not use words that are open to interpreta- one day make a global
tion. For example, saying you will 'maximize share- difference.
holder return in 2022’ does not actually mean any- To educate the citizens and
thing unless you specify what it actually looks like. citizen-leaders for our society.
4. Maintain simplicity. We do this through our com-
Simplicity is the key to brilliance. Keep the vi- mitment to the transformative
power of a liberal arts and
sion statement simple enough for people both inside sciences education.
and outside your organization to understand. Re-
member this: no technical jargon, no metaphors, and
no business buzz-words if at all possible.
5. Make it enterprising.
A vision statement does not only look at the To be the airline of choice in
present but should look beyond where you see your all markets we serve.
company placed in the marketplace. Therefore, it To be the source of pride for
should be ambitious enough to be exciting but not too Filipinos everywhere.
ambitious that it seems unachievable. To deliver safe, reliable, effi-
cient, and pleasant travel
It is not really a matter of time-framing your
experience exceeding passen-
vision, because that will vary by organization, but ger expectations. To provide a
certainly, anything that has a time-frame outside of 3 satisfying career to our em-
to 10 years should be challenged as to whether it's ployees and adequate returns
appropriate. to stockholders. To represent
the best of the Philippines, the
Writing a vision statement in 2021, Cascade Best of Filipinos to the world.
recommends you aim around the year 2026, this is
ambitious and far enough in the future to work to-
wards, but not so far that your organization loses its
faith and commitment.
6. Align it to the company values. Provide all employees with
It needs to align to the company values that challenging and rewarding
you want your people to exhibit as they perform their opportunities to utilize their
work. We talk more about company values but once talents and experience in con-
you've created those company values later on, revisit tributing to our shared suc-
cess. Earn a return on our
your vision to see how well they get.
capital that ensures the long-
The following example is student-made vision term financial health and via-
statement for a startup business to be put up in the bility of our company.
community. Ensure customer satisfaction
by continually improving the
"Producing and selling locally sourced cakes and quality and value of Cascade
pies that are; so delicious and satisfying, that every cus- products and services. Provide
tomer who leaves our store does so with a smile." all employees with challeng-
ing and rewarding opportuni-
Mission Statement ties to utilize their
talents and experience
A mission statement is a concise explanation of in contributing to our shared
the organization's reason for existence. It describes the success.
organization's purpose and its overall intention.

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BUSINESS ENTERPRISE SIMULATION Prof. Juancho M. Babista

The mission statement supports the vision and

serves to communicate purpose and direction to employ-
ees, customers, vendors and other stakeholders. For a
strategy to be successful, it must first consider the com-
pany’s core values and its desired future position in the To lead the digital
market. This is also known as the company’s vision. convergence movement.
We will devote our human
The company's mission is how the company resources and technology to
chooses to pursue its vision. It is more specific and re- create superior products and
lates directly to the company’s products and services. It is services, thereby contributing
a long-term aspiration, but not so enduring as its vision. to a better global society.
Even though the company’s vision remains unaf-
fected by environmental changes, the mission statement
could change overnight due to a technological break-
through. If, for example, the head of the company notices
a trend that will serve its vision better than its current
mission, then they might pivot, make a huge turn and
invest their resources in this new rising trend.
To entertain, inform and in-
In the early 1980s, Steve Jobs made that huge spire people around the globe
turn. With the vision to empower every individual to through the power of unpar-
challenge the status quo through the use of the personal alleled storytelling, reflecting
computer, Apple pivoted. They abandoned their new iter- the iconic brands, creative
ation of the Apple computer and invested in the new minds and innovative tech-
“graphical user interface technology.” The rest is history. nologies that make ours the
However, this is not typical. world’s premier entertain-
ment company.
Missions do not change that often or that easily. A
mission could serve a company for many years and slowly
evolve. It could endure internal leadership changes and
external environmental changes. But, it is not written in
stone, like the vision. The vision is resilient. The missions
are flexible.

Developing a Mission Statement To make sustainable living

To develop your mission statement, follow the commonplace.
steps below: To add vitality to life. We
1. Develop your winning idea. meet every day needs for nu-
Identify your organization's "winning idea," or trition, hygiene and personal
unique selling proposition (USP). This is the idea or care with brands that help
approach that makes your organization stand out people feel good, look good
and get more out of life.
from its competitors, and it is the reason that cus-
tomers come to you and not your competitors.
2. Clarify your goal.
Make a short list of the most important
measures of success for your winning idea. For in-
stance, if it is to create cutting-edge products in a par- To be the best consumer prod-
ucts and services company in
ticular industry, determine how will you know when
the world.
you have accomplished this goal. If your idea is to
provide excellent customer service, formulate key To provide branded products
performance indicators that will let you know that and services of superior quali-
your customers are truly satisfied. You do not have to ty and value that improve the
lives of the world's consumers,
include exact figures here, but it is important to have
now and for generations to
a general idea of what success looks like, so that you come.
know when you've achieved it.

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BUSINESS ENTERPRISE SIMULATION Prof. Juancho M. Babista

3. Combine your winning idea and success measures

into a general, but measurable goal.
Refine the words until you have a concise
statement that expresses your ideas, measures and a For every person to use their
desired result. Keep this statement in the present unique experiences and back-
tense, and make sure it is short, simple, clear, and grounds, together – to spark
free of jargon. You must employ a language that solutions that create a better,
needs to be inspiring, but do not include adjectives healthier world.”
just so it sounds better. We will delight our consum-
ers, treating each person who
Consider this first example: A store that mar- contacts us as if they are our
kets farm produce, Farm Fresh Produce, has this only consumer, providing
winning idea which is to provide farm freshness. The them with a response which is
owner identifies two key measures of the company's evidence of our interest and
success: freshness and customer satisfaction. She that leaves them with the clear
creates the following mission statement, which is the understanding that they are
combination of the winning idea and her measures of important to us.
success:
To be the number one produce store in Main
Town by selling the highest quality, freshest farm
produce directly from farm to customer, with high
customer satisfaction.
People use Facebook to stay
Let us study this second example: Carl has connected with friends and
just become the leader of a new team. The team will family, to discover what's go-
focus on one key project: streamlining the organiza- ing on in the world, and to
tion's internal databases, so that the entire system share and express what mat-
ters to them.
runs smoothly and without problems. With this in
mind, Carl creates a mission statement to guide his To give people the power to
team's understanding of their purpose: share and make the world
more open and connected.”
Our team's goal is to streamline our organi-
zation's database management system within 12
months. We will develop a new system that is easy to
use and reduces the frequency of user errors.
4. Combine your mission and values.
To be the most admired and
Combine your mission and values, and polish trusted profitable financial
your words until you have an inspiring statement that services group providing and
will energize people, inside and outside your organi- adapting to customers' chang-
zation. It should be broad and timeless, and it should ing needs - for every Filipino
explain why the people in your organization do what worldwide - through innova-
they do. tive products, excellent service
and a highly motivated, com-
Let us take this example: The owner of Farm mitted and impassioned team.
Fresh Produce examines what she, her customers and
We are committed
her employees value about her mission. The four
to: Conducting our business
most important values that she identifies are fresh- with utmost integrity, excel-
ness, healthiness, tastiness, and the ‘local-ness" of the lence, and commitment as re-
produce. Here's the vision statement that she creates sponsible corporate citizens;
and shares with employees, customers and farmers and, providing professional
alike: growth opportunities to de-
velop a talented base of offic-
We encourage the families of Main Town to ers and employees, and
live happier and healthier lives by providing the achieving the best returns for
freshest, tastiest, and most nutritious local produce our stockholders.
from local farms to their table.

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BUSINESS ENTERPRISE SIMULATION Prof. Juancho M. Babista

Peruse this next example: Carl looks at the

values that are key to achieving his team's goal, and
considers their mission statement. He identifies sev-
eral important values, such as challenge, dependabil-
ity and teamwork. He then creates this statement that
Empowering digital busi-
combines his team's mission and values:
ness: Businesses count on
We will challenge our skills and abilities, and Adobe to help them meet the
create a database system that's strong, dependable challenges of digital trans-
and intuitive, allowing our colleagues to work quick- formation.
ly and effortlessly. To move the Web forward
while also giving Web design-
Conclusion ers and developers the best
tools and services in the
There can be some confusion when it comes to world.
what defining the difference between vision and mission
statements. The following notes clarify the issues.
1. A company's vision statement represents the future To be the most admired fash-
position the company desires to be in while a compa- ion brands company in Asia.
ny's mission statement is a definition of the compa-
Our thrust is to keep the
ny's business state and objectives in the present.
brands strong and grow at a
2. A vision statements defines your organization's pur- pace that challenges us. We
pose, but they focus on its goals and aspirations. aim to pass on to the next
These statements are designed to be uplifting and in- generation a business that is
robust and dynamic
spiring. They are also timeless: even if the organiza-
tion changes its strategy, the vision will often stay the same.
3. A mission statement also defines your organization's purpose and its primary objec-
tives. They are set in the present tense, and explain why you exist as a business, both
to members of your organization and to people outside it. Mission statements tend to
be short, clear and powerful.

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