Mission & Vision Statements

Mission Statement
A mission statement is the reason an organization exists. The mission statement makes clear the resolve of a company, not only for the public but also for itself. Normally, the Mission Statement must constitute an all-encompassing view of the companys mission. It should direct the actions of a company and articulate its goals clearly and briefly. It furnishes the basic foundation of an organization, over which the companys strategies are developed.

Writing a Mission Statement

A good mission statement must precisely define the reason for the existence of an organization, and its goals.It must spell out an organizations values and its nature of work.Sometimes an organization continues to face the same challenges over a long period of time. In such cases the mission statement may be kept the same. Over the years, as the company evolves, its goals change and new strategies are adopted and practised. The mission statement must thus be reviewed every once in a while to make sure it aligns with the companys current values and goals. The mission statement must be written in such a way that even a layman who isnt a part of the organization can clearly grasp its context. It must answer questions like Why do I exist? and What am I here to do? It must also be socially meaningful. Some mission statements are long and complex in nature as the one by General Motors shown below. "G.M. is a multinational corporation engaged in socially responsible operations, worldwide. It is dedicated to provide products and services of such quality that our customers will receive superior value while our employees and business partners will share in our success and our stock-holders will receive a sustained superior return on their investment." Mission statements may also be short and simple like the one by ConocoPhillips. "Use our pioneering spirit to responsibly deliver energy to the world."

Mission Statements of Fortune 500 companies

Some more examples of successful companies with simple mission statements are illustrated below.

Toyota: To attract and attain customers with high-valued products and services and the most satisfying ownership experience in America. Chevron: Our Company's foundation is built on our Values, which distinguish us and guide our actions. We conduct our business in a socially responsible and ethical manner. We respect the law, support universal human rights, protect the environment, and benefit the communities where we work. Clearly, no two mission statements are alike, yet they all describe a companys potential, its work and its moral or ethical position. Your mission statement can include the following:

Missions and goals of the organization Aspirations o f the organization Moral and ethical position of the organization The sought public image The company name (rather than my companys mission...) Products and services offered

Points to remember:

Keep it simple and easy to understand Mission statement can be grand, but keep the goals practical Describe how you want to reach your goals, but it must be a very general and short description

Vision Statement
A vision statement is the picture a company paints of its future. While creating a vision statement you are putting your dreams and vision into words. Vision Statements also define a companys goals for the future, but in terms of what the company values, rather than in terms of what the company wants to achieve practically. It doesnt really point out how you will achieve the goals, but simply points you in a direction. It should capture your passion in such a way that, when shared with a customer, they must be able to look at your organization the way you see it. To employees of a company, the vision statement must be inspiring enough to compel them to work harder and give their best to the organization, to achieve the vision.

Vision Statement Creation

The vision statement must be created after the mission statement has been dealt with.

The mission statement must be made. Then the human value in that mission must be recognized. The company must put down how they want to accomplish their goals, and find out which is the most important value, that it wants to retain while achievingtheir goals. Finally vision statement must be phrased in such a way that it motivates and inspires not only the employees of the company but also its customers.

Vision Statements of Fortune 500 companies

Chevron: At the heart of The Chevron Way is our vision to be the global energy company most admired for its people, partnership and performance. General Motors: GMs vision is to be the world leader in transportation products and related services. We will earn our customers enthusiasm through continuous improvement driven by the integrity, teamwork, and innovationof GM people.

Over the past 100 years, GM has been a leader in the global automotive industry. And the next 100 years will be no different. GM is committed to leading the industry in alternative fuel propulsion.

Difference between Mission Statement and Vision Statement

The most important difference between a mission statement and a vision statement is that the mission statement concentrates on a companys current state of affairs, while a vision statement focuses on the companys future. The mission statement is more about why a company exists and the business it wants to perform. It also talks about maintaining a certain quality. But a vision statement is more futuristic and leans more toward motivation rather than practicality

Pearl Continental Telex; 44877 44167 PEARL PKCable; PEARL CONT LAHORE MISSION STATEMENT Every organization has a complete statement of the organizationspurpose what it wants to accomplish in the larger environment. A clear mission statement acts as an invisible hand that guides peoplein the organization so that they can work independently and yet collectively toward overall organization goals. Organizations havedefined their business in service terms or in technological terms butthe mission statement should be oriented, have a realistic approachshould fit the market environment motivate and has a guidance by avision.The mission statement of the Pearl Continental Hotel almost coversall aspects of an effective mission statement. Its Mission Statement can be defined as. Our mission is to be the hotel, recognized as the l e a d e r i n t h e industry in any aspect. We are committed to train and develop assour staff membersAllowing them to grow in their Careers and provide services andStandards which exceed guest expectations. The hotel is trying to achieve there best to attract new customers asw e l l a s m a i n t a i n t h e o l d o n e s . T h e y b e l i e v e t h a t the customerssatisfaction play a major role in the s u c c e s s o f t h e h o t e l s . T h i s mission statement describes that they want to be the leader andcatch maximum business out of the existing market of the hotels. The Pak-AIMS (Institute Of Management Science)

Pearl Continental 2 nd thing is to commitment for their employees up to their best leveland also committed to develop their employees career. At Pearl Continental Hotel every department has defined its mission statementseparately.
The motto of each mission statement is: To be the market leader C o m m i t m e n t f o r t h e i r e m p l o y e e s i n d e v e l o p i n g t h e i r career To provide services and Standards The hotel is running with the help of mission s t a t e m e n t . T h e management also decides that the statement should be specific andattainable. It should set out where, how, and what markets the hotelwill act, and it should describe achievements that are feasible. Themission of the hotel is to provide expertise and services to customersand corporate customers through out the greater area. VISION We are committed to dynamic growth and service excellence bui ltupon our heritage of traditional hospitality we strive to consistently m e e t and surpass guest, employees and other s t a k e h o l d e r s expectations.We feel pride in making efforts to position Pakistan in The forefront of the International arena.

Mcb

Vision Statement To be the leading financial services provider, partnering with our customers for a more prosperous and secure future. Mission Statement We are a team of committed professionals, providing innovative and efficient financial solutions to create and nurture long-term relationships with our customers. In doing so, we ensure that our shareholders can invest with confidence in us.
Allied bank

MISSION STATEMENT
To be among the pillars of the banking industry, a strong and resilient institution committed to lasting partnerships with and superior service to our clients; the well-being of our employees; fair return on equity for our shareholders; and national growth and development as financial catalyst.

TO OUR CLIENTS
We shall always seek and preserve the trust and confidence of our clients and customers. We shall offer a wide range of products that will meet the customer's life aspirations. And we shall render excellent service to customers, treating them not only as customers but as people.

TO OUR EMPLOYEES
Realizing the value of our employees in achieving our goals, we will recognize their contribution to the efficient management of our institution. We shall promote productivity and a sense of belonging.

TO

OUR

COMPANY

We shall pursue strength in our balance sheet and profitability in our performance. Cognizant of the demands of our exacting responsibility, we commit, without reservation, to apply the highest standards of probity, prudence, and professionalism in our tasks.

TO OUR COUNTRY
We acknowledge our responsibility to our country and commit to mobilize our

resources in the interest of the economy. Recognizing the potential of our countryside, we shall constantly endeavor to expand our reach and distribution network to make meaningful contribution to entrepreneurial ventures.

VISION
To continually create value to be the preferential-universal Bank.