RICA G.

ANIÑON

ES 321B – ENGINEERING MANAGEMENT

REFLECTION #4: PLANNING VISION AND MISSION

Creating and maintaining a vision for your company is just as important for your businesses
long-term success as marketing and selling is. Vision not only motivates you and your employees; it
helps you stay focused on the goal and work together toward something. (Larson, 2015) With this
statement, Larson made it quite obvious how crucial it is for a firm to have a mission and vision.
Furthermore, as we continue to write about our reflections, we will have a better understanding of the
benefits of having a clear vision and mission, as well as how they affect the employees and the business
as a whole.

Both the mission and the vision of an organization relate to its purpose, and they are often
expressed in writing. The organization's mission and vision statements provide answers to the questions
of who we are, what we value, and where we're heading. 90% of the 500 companies evaluated by the
consulting firm Bain and Company reportedly give mission and vision statements of some kind (Bart &
Baetz, 1998) As you can see, it is essential for your organization to have a distinct vision and mission.
Even if it is only a few phrases, it will make a big difference and give your company a distinct identity.
Consumers can now understand what you have to offer them and how well you can meet their
demands. Also, it makes an impression on your potential customers. Aside from that, you will also win
the confidence or trust of your target clients or perhaps investors.

Now, what exactly is a mission statement? The role or purpose that an organization seeks to
fulfill in serving its stakeholders is stated in its mission statement. It explains what the organization does
(its existing capabilities), who it serves (its stakeholders), and what distinguishes it from other
organizations. As I've already mentioned, a mission statement develops an identity. Both "What are we
going to do" and "How are we going to do it?" are answered by this. This will assist the company in
concentrating on its unique selling points. It is, in essence, the reason the organization exists.

Let's now discuss what a vision statement is. A vision statement outlines the organization's
future goals or the location where it should be to best serve its stakeholders. It incorporates a common
understanding of the organization's nature and goals and uses this understanding to steer the
organization in the direction of a more important goal. I came to understand that this statement could
give the organization a sense of direction and purpose. We are all aware that when a lot of ideas or
issues arise, we often lose sight of what needs to be done. But with this, we can have a say in the future
of our business. But let's not lose sight of the fact that a vision statement needs to be concise, direct,
and compelling. It's important to keep in mind that a vision statement should evoke strong emotions.
Anybody who reads it should be able to see or follow it clearly. For the stakeholders, it fosters a sense of
community. As an example, consider the vision of the Department of Education (DepEd). The learners
who read it are impacted even if it is brief. I also understood that a brief paragraph is simple to
memorize, allowing passersby to read it whenever they pass by. The vision of your business, which you
are attempting to fulfill, will remain in their memories.
 Along with learning the value of a company's purpose and vision, this lesson taught me how to
create an effective mission statement. This mission or objective is more significant than simply writing
down your daily goals or objectives. Throughout the following 10 to 15 years, you must strive toward
realizing your goal. It is all about your emotion, your courage, perseverance, and hard work. That no
matter how long or how hard it takes, you'll do everything to achieve it. This is the route or objective
that you must follow with the aid of your staff. I was especially struck by the quote that was written
there. Indeed, the universe is surrounded by imagination.

Additionally, I also learned the meaning and importance of a goal in a company. It is a target to
achieve within a specific time. I learned that without your goal or aim, you cannot live your life happily
and with the feeling of satisfaction. According to Bill Copeland: “The trouble with not having a goal is
that you can spend your life running up and down the field and never score.” Imagine living in a life
without a goal, you'll feel very worthless. It is one of the reasons why we keep going. I myself has my
own goal, and that is to become an engineer, spoil my parents, be successful, and happier in life. With
this goal, I know that no matter how hard or how long it takes to get it, I will do my very best to achieve
it.

In addition, I discovered that there are three categories of goals: uniform goals, performance-
based goals, and potential-based goals. Each of these three types of goals has three distinct objectives.
When we discussed a goal that is set for all entities inside the corporation, we were referring to a
uniform goal. Performance-based goals, on the other hand, are set by the organization and focus on
improving on performance from the previous year. Finally, the potential-based goals are determined by
the model's or the ratings' criteria. Running a business requires having these three distinct types of
goals.

“Remember, the vision is what you want to accomplish. Mission is a general statement of how
you will achieve your vision. Strategies are a series of ways of using the mission to achieve the vision.
Goals are statements of what needs to be accomplished to implement the strategy. Objectives are
specific actions and timelines for achieving the goal.” (Hofstrand, 2016) Starting a business is
challenging, but it can be done with the right planning, management, vision, mission, and goals. With
these, you can accomplish anything with ease and eventually find the success you've always desired.
 REFERENCES:

Larson, Erick (August 04, 2015). 5 Quotes on Having A Vision For Your Company. Retrieved from.
https://www.lendio.com/blog/5-quotes-vision-company/

Bart, C. K., & Baetz, M. C. (1998). The relationship between mission statements and firm performance:
An exploratory study. Journal of Management Studies, 35, 823–853.

Don Hofstrand (August, 2016). Vision and Mission Statements -- a Roadmap of Where You Want to Go
and How to Get There. Retrived from. https://www.extension.iastate.edu/agdm/wholefarm/html/c5-
09.html#:~:text=Mission%20is%20a%20general%20statement,timelines%20for%20achieving%20the
%20goal.