Mission, vision and values ​​of a company: what they are, and examples

Like people, companies also have an idiosyncrasy that differentiates them from the rest, reporting very specific characteristics that make consumers perceive them in a way determined.

An important part of this business identity is given by its mission, vision and values. We are going to discover what each of these concepts consists of.

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What do we understand by the mission, vision and values ​​of a company?

These three elements will be the ones that will mark the roadmap of the corporation in its projects and take decisions for the future, but each of them has its peculiarities, which we will explore below continuation.

Mission

The first element that we find is the mission. It is the main idea for which the organization works, its reason for being. It would be the ultimate goal of the company, what it goes to little by little with each small decision that is taken and each objective fulfilled. It is the long-term goal of the company. It could be said that it acts like a compass, always marking a course to look at.

But this does not mean that the mission is static and untouchable, far from it. Reviews and updates are common because the company acts as a changing body that evolves and adapts to the environment in which it is found, which is also not static.

The mission cannot be reduced to the absurd and placed only in the economic perspective of “being profitable”, or “generating a certain amount of money ”which, obviously, would go into the plans of any company that is not a non-organization lucrative. It is about establishing the idea for which the company was created.

View

If the mission is the idea of ​​the company in the long term, we could say that the vision would be that idea but in the medium term. Is about the specific situation we want for our company within certain years, and therefore each job and each project must be aimed at achieving that specific position.

The question that we must ask ourselves when raising the vision of the corporation is where we want to be in X years, and also, what purposes we want to fulfill. It must be an approach that inspires and motivates all employees, who will row together in the same direction, as the team they are, to achieve the forecast. And, as the vision is for everyone, it must be stated in a simple and clear way, so that all workers, regardless of their position and training, understand it.

Although a differentiation is generally established between mission and vision, since they are independent concepts, there is a certain tendency in companies in some countries North Europeans to synthesize them in a single concept, so it is not surprising that we find it unified if we look for information regarding any brand of said territories.

Obviously the vision must be an achievable and reasonable objective within the capabilities of the company itself and once its prospects for future growth have been taken into account. It would be unreasonable for a small neighborhood shoe store to set out to be the world's largest shoe exporter within 5 years. You have to be aware of your own strengths but also of your weaknesses.

On the other hand, the vision should not be to keep us in the same position we are in, except that the concrete circumstances of the environment lead us to anticipate a serious economic crisis, a scenario in which, maintaining our sales at the level of other years, would already be an achievement magnificent. But removing those types of situations that, fortunately, are not abundant, vision should also be an incentive to achieve growth, improvement and, ultimately, a better position in the future.

A reasonable vision in the example of the small shoe store could be to become the reference store in the neighborhood, to grow enough to be able to open another establishment and start a chain, or even get a certain market share not only locally but in other parts of the country thanks to digital marketing and online sales through the net.

Values

We reached the third point in the roadmap of the spirit of the company. In this case we mean values. They would be the general guidelines for action of our company.

They are generally between five and seven, and they would be a kind of sacred laws to take into account in every action we develop within the company. They would be our particular rules of the game. They could even be seen as the entity's own personality. They have an important ethical component, and in that sense they will mark the red lines of corporate actions, always making it clear which limits will not be exceeded under any circumstances.

Of course, these values ​​will be for everyone. Any member of the corporation should take this list into account when carrying out their day-to-day tasks, regardless of the position they occupy in the business organization chart.

Values ​​can be of different types, depending on what their purpose is. We can therefore observe the following modalities.

1. Work dynamics value

Will mark the appropriate guideline to perform the tasks of production or performance of the service in the way required by the organization, achieving the best possible result. We must always seek the most efficient methods and at the same time make it our goal to achieve excellence in our product.

2. Development value

Refers to how workers must act to achieve each time a better product or service to offer to customers. One of the clearest would be the one that seeks innovation, so that we always have a cutting-edge product that is more attractive than that of competitors.

3. Social value

Refers to the responsibility that the corporation has with respect to the environment and to society itself during its operation. And we all know the power that a large corporation can have, and therefore it must have a responsibility attached to it. In other words, they should be an example to society.

4. Customer service value

Are those designed to offer the consumer a unique experience that is remembered and achieves loyalty, so that you become a recurring customer of our company.

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Features

Once an overview of the three elements is obtained, we are going to review some general functions that all of them fulfill in the normal operation of the corporation.

Communication

The mission, vision and values ​​of a company have an important function, and it is to communicate and inform both employees and customers, suppliers, partners, and other groups of all these guidelines and objectives that govern the work of this company.

It is very useful for a new incorporation in the company to have access to the philosophy of the same and have a quick and satisfactory adaptation. It also helps other companies to know in a certain way the strategies of the competitors and thus be able to act in Consequently, establishing similar measures or separating yourself from others in order to make a difference and result more attractive. This process can provide feedback to the initial company, generating mutual enrichment.

Strategy

Nor can we ignore the clear strategic role acquired by both the mission, the vision and the values. And it has become clear that all these elements make up the main lines of action, both in the present and in the future, and therefore will be defining when establishing strategies.

Practical example of a company's mission, vision and values

As it is always easier to understand new concepts when we have real examples, we are going to review everything exposed in the article taking as reference a well-known company both in Spain and internationally, in this case we refer to the oil company Repsol. All information is accessible and public from its own website.

Mission example

In this case the objective is clear and concise. Repsol's mission is be a company that provides energy to consumers but always does so while maintaining a commitment to sustainability in its insertion on the planet.

This is going to be, therefore, the key that will guide any small action and project that is carried out in the organization.

Vision example

The course set for the future is to be a company that provides energy globally, in an innovative way, respectful of people and nature and at the same time efficient in its procedures. It will seek to generate value and always do it in a way that guarantees sustainability, ultimately achieving that the society in which said company is located, progress.

Examples of values

Regarding the guidelines for day-to-day action, Repsol has four clearly differentiated ones, which are the following.

1. Anticipate challenges

A leading company like this must anticipate all scenarios and thus be able to face possible threats but at the same time take advantage of opportunities that may arise.

2. Be efficient

As an energy company that it is, at Repsol they know better than anyone how important it is to take advantage of each resource and give it the maximum possible utility. This has to be applied at all levels during production.

3. Always respectful

Respect must guide every act at Repsol, both in the workplace, creating an inclusive climate, where all employees trust each other, as in relation to consumers and society itself.

4. Create value

As a reference company, this company and all those who compose it must be a value in itself, and must be aware of the importance they have and the service they provide to society through their work.

Bibliographic references:

• Martos, R. (2009). Corporate Culture: Mission, Vision and Values ​​in the Strategic Management of companies in the Automotive sector in Spain. Universitat Politècnica de Catalunya.
• Cruz, R.C. (2007). Values-Mission-Vision. Contributions to the Economy. Intercontinental Academic Services.
• Rivera, O. (1991). The concepts of: mission, vision and strategic purpose. University of Deusto.