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Abstract
‘Vision’ and ‘mission’ are words whose power is overshadowed only by the confusion which surrounds them. And so, while many executives are convinced of the importance of vision and mission statements, they remain frustrated in their attempts to realize the full value of these concepts. This article presents a comprehensive framework for vision and mission statements which places the terms within a broader context of market forces, organizational core competencies, strategies and goals. The framework is supported by an analysis of over a dozen mission or vision statements, a review of the relevant literature, and a detailed example of how the framework has been used successfully.
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