Mission, Values, and Vision
Roadmap for Chapter 5
Thousands of organizations around the world have used the Balanced Scorecard to successfully implement their strategies. But before a strategy is formulated or implemented, the organization must contemplate its mission, values, and vision (see Exhibit 5.1
). These concepts are at the core of any effective organization—inspiring all stakeholders, guiding decisions, and aligning the actions of every employee. The Balanced Scorecard will ultimately translate the mission, values, vision, and strategy into performance objectives and metrics you can use to gauge your success in meeting your overall aims.
In this chapter, we’ll examine each of these building blocks in detail; consider what they are and how to determine their effectiveness, review tips on developing them, and identify their vital linkage to the Balanced Scorecard. As a Scorecard practitioner you’ll need to determine if the Balanced Scorecard you’ve developed is truly aligned to your mission, values, and vision. This chapter equips you with the tools to make that critical determination.
What Is a Mission Statement and Why Is It So Important?
Anyone encountering your organization, whether it’s a customer, funder, potential employee, or partner, will undoubtedly have a number of questions in mind. Who are you as an organization? Whom do you serve? Why do you exist? It is the mission of your organization that provides the answers to these vital questions.1