Business Objectives

Long-term goals that guide the direction and purpose of the company

Mission & Vision

Definition: What is the Mission?

• Answers the question: “Why do we exist?”

• Describes the primary objective and purpose of a company.

• Includes the company’s values, beliefs, and philosophy.

• Function:

  • Justifies the company’s existence.

  • Reflects the company’s personality.

Functions of the Mission:

1. Internal Communication:

   • The mission must be known and shared so that all employees understand and embody it.

2. Employee Motivation:

   • Promotes identification, loyalty, and engagement among employees.

3. Strategic Alignment:

   • Helps to focus efforts in a common direction.

4. Brand Identity:

   • Differentiates the company from competitors and establishes a unique position.

5. Social Control:

   • Serves as a guide for decisions and behavior within the company.

Key Elements of the Mission:

1. Products or Services: What does the company offer?

2. Sectors: In which industries does the company operate?

3. Geographic Presence: Where does the company conduct its activities? (e.g., country, regions)

4. Ownership Structure: Who owns the company?

5. Target Audience: What customer profiles does the company serve?

Examples (Links to Mission Statements):

• Coca-Cola España

• Prisa

• CaixaBank

• Lopesan

Temporal Focus

• Mission:

  • Focuses on the present.

  • Describes the company’s current purpose and reason for being.

  • Answers: “Why do we exist?”

• Vision:

  • Focuses on the future.

  • Outlines what the company aspires to achieve or become in the long term.

  • Answers: “Where are we going?”

2. Purpose

• Mission:

  • Defines the company’s primary goal and explains its current activities, values, and priorities.

  • Reflects what the company does today to fulfill its role in society.

• Vision:

  • Expresses the company’s ambitions and long-term dreams.

  • Acts as a strategic guide for where the company wants to be in the future.

3. Key Characteristics

• Mission:

  • Practical and operational.

  • Focuses on actions and what makes the company unique in its current environment.

• Vision:

  • Inspirational and aspirational.

  • Emphasizes goals that motivate employees and stakeholders.

4. Shared Benefits

• Both:

  • Motivation: Inspire employees by offering a clear purpose and a sense of direction.

  • Measuring Success: Help evaluate the company’s progress in achieving short-term and long-term objectives.

1. Mission = Present: What the company is and what it does now.

2. Vision = Future: What the company wants to be and achieve in the future.

Definition: What is the Vision?

• Answers the question: “Where are we going?”

• Describes the company’s long-term aspirations and what it aims to become in the future.

• Focuses on the future, highlighting the organization’s dreams and goals over an extended timeframe.

• Characteristics of a Good Vision:

  • Inspiring and motivational.

  • Ambitious and forward-thinking.