Your Mission, Vision, and Values (with Examples)

Summary

This video delves into the concept of mission, vision, and values for organizations, emphasizing the importance of values as guiding principles. It explains the distinction between mission and vision statements, using examples like Heifer International and Netflix to illustrate their purpose. The script highlights the discrepancy between stated values and actual business practices, cautioning that while values are meant to unify and motivate, they are sometimes not reflected in reality, as seen in the Enron scandal. It concludes by encouraging viewers to reflect on their own values and those of their teams or organizations.

Takeaways

• 📜 A mission statement is a concise explanation of an organization's purpose, including its why, who, and sometimes how.
• 🎯 The mission statement serves as a daily job description for an organization, focusing on its ongoing activities.
• 🌟 Heifer International's mission statement exemplifies a clear why (end hunger and poverty), who (small-scale farmers and communities), and how (providing livestock, training, and services).
• 🔮 A vision statement outlines what an organization aspires the future to be, describing its long-term goal.
• 🎬 Netflix's original vision was to become the world's best global entertainment distribution service, illustrating a clear future goal.
• 🔄 The difference between mission and vision is that the mission is present-focused, while the vision is future-oriented.
• 🏛 Corporate values are the guiding principles and beliefs that direct a team or organization toward a common goal, akin to personal values.
• 🛍 Wegmans' values emphasize care for individuals, high standards, excellence, community impact, respect, listening, and empowerment.
• 📹 YouTube's values center on freedom of expression, information, opportunity, and belonging, which guide its platform and company operations.
• 🚢 Oyster values community deeply, considering its employees, customers, and stakeholders as one family, inspired by shared stories and adventures.
• 🤔 Organizations sometimes claim values they do not uphold, as seen with Enron's fall from grace despite professing respect, integrity, communication, and excellence.
• 💡 Honest self-reflection on an organization's values and behavior is crucial for alignment and authenticity in corporate culture.

Q & A

What is the primary purpose of a mission statement for an organization?

A mission statement serves as a concise explanation of what an organization does, its assignment, and typically includes the why (contribution or benefit), the who (intended customer or community), and sometimes the how (distinctive strategy or approach).

Can you provide an example of a mission statement from the script?

An example given in the script is Heifer International's mission statement: 'The mission of Heifer International is to end hunger and poverty while caring for the Earth, by providing appropriate livestock, training, and related services to small-scale farmers and communities worldwide.'

What is the main difference between a mission statement and a vision statement?

A mission statement describes the day-to-day job description of an organization and is focused on the present, while a vision statement explains the organization's overarching long-term goal and is focused on the future.

What was the original vision statement for Netflix mentioned in the script?

The original vision statement for Netflix was 'Becoming the world's best global entertainment distribution service.'

What is the role of values in an organization?

Values in an organization are the guiding principles and beliefs that help lead a team or organization toward a common goal, similar to personal values, and they are promoted to ensure the entire group is aligned.

How does Wegmans express its corporate values on their website?

Wegmans states its values directly on their website, emphasizing care for every person's wellbeing and success, high standards, pursuit of excellence, making a difference in communities, respect and listening to people, and empowering people to make decisions.

What are YouTube's corporate values according to the script?

YouTube values freedom of expression, freedom of information, freedom of opportunity, and freedom to belong.

How does Heifer International refer to its values on their website?

Heifer International refers to its values as '12 cornerstones,' which are the principles that drive and motivate the way they do business.

What is an example of a company that did not live up to its published values?

Enron is an infamous example of a company that claimed values of respect, integrity, communication, and excellence, but their actions were in stark contrast to these stated values, leading to illegal activities and bankruptcy.

What is the potential issue with organizations stating values they do not consistently uphold?

When organizations do not live up to their stated values, it can lead to a disconnect between the company's image and its actual practices, potentially causing cynicism among employees and stakeholders.

What is the final call to action for the viewers in the script?

The final call to action is for viewers to list their top three or four values that drive them personally or professionally, and to consider watching the first two videos in the series on mission and vision statements for a more comprehensive understanding.

Outlines

00:00

📜 Understanding Mission, Vision, and Values

This paragraph introduces the third video in a series focused on mission, vision, and values of an organization. The speaker emphasizes the importance of values and encourages viewers to consider their own professional or team values. A recap of the previous videos on mission and vision statements is provided, with examples like Heifer International's mission and Netflix's vision. The paragraph concludes by defining values as guiding principles that align an organization towards a common goal, similar to personal values.

05:00

🏪 Corporate Values in Practice

The second paragraph delves into the practical application of corporate values, using Wegmans and YouTube as examples. Wegmans' values are listed, emphasizing the company's focus on people's well-being and success, high standards, excellence, and community impact. YouTube's values revolve around various forms of freedom. The paragraph also discusses the importance of values being reflected in an organization's actions, not just stated on paper, with a cautionary note about the discrepancy between stated values and actual practices, referencing Enron as an example of a company that failed to live up to its stated values.

10:01

🤔 Reflecting on Personal and Organizational Values

In the final paragraph, the speaker prompts viewers to reflect on their personal values and those of their team or organization. The importance of honesty in aligning actions with stated values is highlighted, and the video series is positioned as a cohesive unit for understanding mission, vision, and values. The speaker signs off with well-wishes and an invitation to the next video, reinforcing the interconnectedness of the series' topics.

Keywords

💡Mission Statement

A mission statement is a brief description of an organization's purpose, outlining its goals and the nature of its operations. It is typically composed of three parts: the 'why', which is the contribution or benefit the organization aims to provide; the 'who', which identifies the target customer or community; and sometimes the 'how', which describes the unique strategy or approach taken. In the video, the mission statement of Heifer International is given as an example, emphasizing ending hunger and poverty through livestock provision and training services.

💡Vision Statement

A vision statement is a declaration of an organization's long-term aspirations, defining what it aims to achieve or become in the future. It is a broad, overarching goal that provides direction and inspiration. The video contrasts the vision statement with the mission statement, using Netflix's original vision to illustrate the concept. The vision statement is meant to be future-oriented, whereas the mission statement is focused on current activities.

💡Values

Values in the context of an organization are the guiding principles and beliefs that steer the actions and decisions of its members towards a common goal. They are akin to personal values but are shared and promoted within the entire group to ensure alignment and coherence. The video discusses how values are communicated through statements or narratives, as seen with Wegmans and YouTube, and how they are meant to reflect the organization's approach to treating people and conducting business.

💡Corporate Values

Corporate values are the core beliefs that an organization holds and promotes to influence its culture and operations. They are intended to be reflected in the behavior and decision-making processes of the company. The video mentions that corporate values are not always industry-specific and provides examples from Wegmans and YouTube, showing how these values are articulated and the importance of living up to them.

💡Day-to-Day Activities

Day-to-day activities refer to the routine tasks and operations that an organization engages in on a regular basis. The video uses this term to describe the focus of a mission statement, which is to provide a concise job description for the organization, highlighting what it does on a daily basis in pursuit of its mission.

💡Long-Term Goal

A long-term goal is an objective that an organization sets for itself to achieve over an extended period. It is typically ambitious and requires sustained effort and planning. The video explains that a vision statement encapsulates this long-term goal, providing a clear picture of what the organization aspires to become, as illustrated by Netflix's vision to be the best global entertainment distribution service.

💡Guiding Principles

Guiding principles are the fundamental beliefs or values that direct an organization's actions and strategies. They serve as a moral compass and ensure that the organization's behavior aligns with its stated values. The video emphasizes the role of guiding principles in shaping an organization's culture and how they are often articulated in the form of corporate values.

💡Behavior

Behavior in the context of the video refers to the actions and conduct of an organization and its members. It is important because it is through behavior that an organization demonstrates whether it truly adheres to its stated values. The video points out the discrepancy that can exist between an organization's declared values and its actual behavior, using Enron as a cautionary example.

💡Reputation

Reputation is the overall perception or image that an organization projects to the public. It is influenced by the organization's actions, values, and the way it conducts its business. The video discusses how organizations may feel pressure to establish a certain reputation, which can sometimes lead to a disconnect between their stated values and their actual practices.

💡Consistency

Consistency refers to the alignment between an organization's stated values, goals, and the way it operates. It is important for building trust and credibility. The video suggests that while many organizations have clear missions and visions, they may not always be consistent with their values, leading to a gap between what they say and what they do.

Highlights

The video discusses mission, vision, and values of an organization.

Values are the third part of the three-part series after mission and vision.

The video challenges viewers to identify their top values as a professional or team.

Links to previous videos on mission and vision are provided in the description.

A mission statement is a concise job description for an organization focused on day-to-day activities.

Heifer International's mission statement is provided as an example.

A vision statement describes an organization's long-term goal and future aspirations.

Netflix's original vision statement is cited as an example.

The difference between mission and vision is clarified as present vs. future focus.

Corporate values explain guiding principles and beliefs leading a team or organization toward a common goal.

Values are compared to personal values, emphasizing their role in aligning an organization's culture.

Wegmans grocery store chain's values are shared as an example.

Values are generally not industry-specific and focus on general treatment of people and business conduct.

YouTube's corporate values of freedom are highlighted.

Heifer International's 12 cornerstones are mentioned as their values.

Oyster's value of community is described through their narrative about the company's people and customers.

Different approaches to communicating values, such as bulleted lists or narratives, are discussed.

The discrepancy between stated values and actual business practices is addressed, using Enron as an example.

The importance of honesty in aligning actions with stated values is emphasized.

The video concludes by encouraging viewers to reflect on their personal and organizational values.

Transcripts

- In this video we're gonna talk about mission, vision,

and specially the values an organization wants to uphold.

This is the third video in a three-part series

and we're going to emphasize the third part, values,

so let's get into the details.

(rock music)

At the end of this video I'm going to ask you

to list your top three or four values you want to live by

as a professional or as a team,

so keep that in mind as we go through this.

But first let's briefly recap the first two videos

in this three-part series for some context.

I'll put links to those videos on mission and vision

in the description below this one,

and if you've already watched those two videos

you can skip to the next part and go right to values.

Here's a recap.

A mission statement is a concise explanation

of what an organization does, its assignment.

Usually a mission statement has three parts.

It explains the why,

or the contribution or benefit

the organization is trying to make.

The who explains the intended customer or community

the organization wants to reach.

And sometimes it indicates the how,

the distinctive strategy or approach an organization takes.

So I'll put this in my own words by saying

that a mission statement is like a concise job description

for an entire organization

that focuses on its day-to-day activity.

So here's an excellent example of a mission statement

I referenced from an earlier video

from Heifer International, a nonprofit organization.

"The mission of Heifer International

"is to end hunger and poverty while caring for the Earth.

"Heifer does this by providing appropriate livestock,

"training and related services

"to small-scale farmers and communities worldwide."

If a total stranger walked up to a Heifer employee

and asked, "So, what does your organization do?"

This concise mission statement says it all for Heifer.

It explains the organization's why,

to end hunger and poverty.

Its who, small-scale farmers and their communities.

And its how, providing livestock, training,

and related services.

Next, a vision statement

is a concise statement that explains

what the organization wants the future to look like.

It describes the organization's overarching longterm goal.

In video number two in this series

we talked about the original vision statement for Netflix

from the CEO Reed Hastings.

That vision statement was,

"Becoming the world's best

"global entertainment distribution service."

It's very concise and it spells out exactly

where the CEO wanted the organization to go.

They wanted to be the world's best of its kind.

For lots of reasons,

many people are confused about the difference

between a mission statement and a vision statement.

So to keep it clear

it's best to think about a mission statement

as describing the day-to-day job description

of an organization,

and a vision statement is the longterm goal

of that organization.

The mission statement is focused on the present,

the vision statement is focused on the future.

In theory, the textbook approach to this would be

that an organization would spell out

its mission, vision, and values

really clearly on their website

and in any of the other corporate materials

and that these statements would all work together

in a cohesive way.

That's not always the case, but that's one approach.

And now let's turn to the topic of values.

Many organizations provide

both internal and external stakeholders

a concise explanation or a bulleted list

of the values the company wants to live by.

In short, corporate values explain

the guiding principles and beliefs

that help lead a team or organization

toward a common goal.

This is a lot like the personal values

that you hold dear in your own life.

You might want to be honest, hardworking,

and pursue excellence in everything you do.

Corporate values are the same,

except the organization would promote these core values

in an effort to get the entire group to take on these values

so that the whole enterprise is on the same page.

But just like in our own lives,

corporations do not always live by the values

they say they hold dear.

Sometimes organizations say they value one thing

but their behavior does something different.

But we will return to that issue

a little later in the video.

For the moment, let's look at some examples

from organizations that you may have heard of.

I talked about Wegmans in a previous video in this series,

and Wegmans is a respected grocery store chain

that has locations mostly in the Northeastern part

of the United States.

They have a great reputation

and on their website they state their values directly.

"We care about the wellbeing and success of every person.

"High standards are a way of life.

"We pursue excellence in everything we do.

"We make a difference in every community we serve.

"We respect and listen to our people.

"We empower our people to make decisions

"that improve their work

"and benefit our customers and our company."

You'll notice that these corporate values

don't say anything about a grocery store,

and that's not uncommon

in the value statements that you'll see from organizations.

Value statements are usually about the way

an organization wants to treat people generally

and how they want to do business generally.

Values are not typically industry-specific.

So let's talk about YouTube as a company.

Most of us think about YouTube as a place to watch videos

or, like me, post videos.

But it's also an organization that has values

that drive and motivate its leaders,

employees and decisions,

at least in theory,

and here are the corporate values I found about YouTube

as a company and as a platform.

YouTube values freedom of expression,

freedom of information, freedom of opportunity,

and freedom to belong.

Does YouTube as a company really live by

and uphold these values?

It's a good question,

but if you comment on that

I will stay out of the debate below.

In theory those are the values

that they at least say they are striving for.

Not all organizations will actually label these

in obvious ways as their corporate values.

They might just describe what the organization stands for

and what they're all about.

Heifer International, we mentioned earlier,

is a nonprofit organization

fighting to end hunger and poverty,

and on their website they call these

their 12 cornerstones.

But these are their values,

and I won't read them all off,

but these are the principles that drive and motivate

the way Heifer does business.

So whether they call them values

or cornerstones or core beliefs,

it's all the same concept.

Another organization I mentioned

in an earlier video in this series

was Oyster, a sailboat manufacturer.

They make high-end sailboats

that are meant to sail around the world.

Oyster doesn't have a bulleted list

of corporate values or cornerstones,

but they do talk on their website

about a deep sense of community.

This is the essential value that they hold dear.

They explain, "At the heart of Oyster are our people.

"Those who design and build these deck saloon yachts

"and those who own and love them.

"We think of ourselves as a family,

"inspired by each other,

"the stories we tell and the adventures we enjoy.

"I hope you will join us."

If you know what to listen for

you can hear that the value of community

is expressed in a couple of different ways.

They talk about their people who design and build the boats,

their customers who own and love the boats,

and they think of themselves as a family.

Those are all keywords that explain

this core value of community.

Whether it's a short or long bulleted list

or a narrative about what the company believes

is no right or wrong approach.

These are just different ways to communicate

the team's values.

Now let's turn back to an issue I mentioned earlier.

Just like in our personal lives,

we don't always measure up to the values

that we say we want to live by.

We may say we value honesty personally

but we may sometimes be dishonest,

even when we're trying.

And it's the same with organizations,

except that organizations are also under pressure

to establish a certain kind of reputation and public image.

It's a sad but true fact

that the fancy-sounding values of some organizations

on their websites and in their materials

have nothing to do with the actual way they do business.

An infamous example of this is the company called Enron.

The short version of the story

is that Enron was a controversial energy company,

that went bankrupt about 20 years ago

for a really long list of illegal,

unethical, immoral activities.

If there was a way to lie, cheat, and steal, Enron did it.

In retrospect, the corporate values published

in their company's materials were laughable.

They claimed that their corporate values were respect,

integrity, communication, and excellence.

That sounds good.

It spells out the acronym RICE, that was catchy.

The problem was that the company's leaders

didn't live by these values whatsoever.

Some of them went to prison.

And I'd like to say that Enron was an isolated incident,

but the corporate values that many organizations

say they follow

are not often consistent

with how their people actually do business

and how they treat each other in that organization.

This is one of the reasons why employees

sometimes get a little cynical about the values

that their organizations claim to live by.

I would say that most organizations

stick pretty closely to their mission

and they usually have a clear vision

that they actually are aiming for.

But when it comes to what they say they value

and how they treat people along the way,

many organizations fall short

of their own published principles.

I think that being honest about those shortcomings

is perhaps the first step in trying to do better.

So let's now turn to application.

If you had to list your top three or four values

that drive you personally,

what would they be?

Take a few minutes to think about that.

And if you're doing this with a team or organization,

what are the key values that you want to live by

as you do business?

If you have not yet watched the first two videos

in this three-part series on mission and vision statements,

I've put links to those videos

in the description below this one.

Feel free to check those out

because all three of these videos

are intended to be watched together.

Until next time, thanks, God bless,

and I will see you soon.