Organizations will spend thousands of dollars and hundreds of hours trying to get their missions, vision and values just right. But what does it all mean?

So much is written these days about the mission, vision and values of an organization. Organizations will spend thousands of dollars and hundreds of hours trying to get these definitions just right. But what does it all mean? Are there other related topics to consider? It's hard to get the full context of these concepts – let's try to simplify.

Mission

Simply put – why does an organization exist?  What is its purpose and why have the stakeholders, Board of Directors and management team assembled under one umbrella for the common good of an organization?

Vision

Where is the organization headed? What does the organization see in front of it in terms of challenges and opportunities? Lots of generative thinking by the board and management team helps define a good vision for an organization.

Values

These are the boundaries of an organization.  If one or more of these things holds untrue, it is time to "shut the front door." Organizations that cannot stay true to their values will inevitably struggle with future success.

Objectives

Organizations should set specific milestones or objectives for the organization, otherwise measuring performance will be difficult.  The key to having good objectives is making sure they are measurable. Less "blue sky" thinking is required in establishing objectives than would be required for a vision exercise.

Strategies

Last but not least are strategies.  These are the plans for achieving objectives – roll up your sleeves and answer the question of "how do we actually implement these objectives?"