Collins and PorrasCollins and Porras

““WHICH ROAD DO I TAKE?" (ALICE)WHICH ROAD DO I TAKE?" (ALICE)

"WHERE DO YOU WANT TO GO?“ (Cheshire "WHERE DO YOU WANT TO GO?“ (Cheshire Cat)Cat)

"I DON'T KNOW," ALICE ANSWERED."I DON'T KNOW," ALICE ANSWERED.

"THEN,” SAID THE CAT, “IT DOESN'T MATTER. "THEN,” SAID THE CAT, “IT DOESN'T MATTER. IF YOU DON'T KNOW WHERE YOU ARE GOING, IF YOU DON'T KNOW WHERE YOU ARE GOING,

ANY ROAD WILL GET YOU THERE.”ANY ROAD WILL GET YOU THERE.” ““It is more important to know who you It is more important to know who you are than where you are going.” Collins are than where you are going.” Collins & Porras& Porras

Vision StatementsVision Statements• Reason for an organization’s Reason for an organization’s

existence existence • Massively inspiringMassively inspiring• OverarchingOverarching• Enduring, very long-termEnduring, very long-term• Driven by and evokes Driven by and evokes

passionpassion• Fundamental statement of Fundamental statement of

the organization’sthe organization’s– ValuesValues– AspirationAspiration– GoalsGoals

Mission StatementsMission Statements• Purpose of the companyPurpose of the company

• Basis of competition and Basis of competition and competitive advantagescompetitive advantages

• More specific than visionMore specific than vision

• Focused on the means by Focused on the means by which the firm will which the firm will competecompete

• Energizes and focuses Energizes and focuses effortsefforts

Values StatementValues Statement• Essential and enduring

tenets of an organization

• Statement of ethical priorities

• Guiding principles for behaviors and decision making

• Basis for moral courage• Independent of current

environment or competitive requirements

Strategic ObjectivesStrategic Objectives• Operationalize the Operationalize the

mission statementmission statement

• SMARTSMART(S)(S)

• Indicates strategic Indicates strategic intent – BHAG intent – BHAG

• Strategic v FinancialStrategic v Financial

• Long-term v short-Long-term v short-termterm

S stretchS stretch

Core Purpose / VisionCore Purpose / VisionVision StatementVision Statement

• Massively inspiringMassively inspiring

• Driven by and evokes Driven by and evokes passionpassion

Core PurposeCore Purpose

• The Organization’s reason The Organization’s reason for beingfor being

• People’s idealistic motives People’s idealistic motives for doing the company’s for doing the company’s workwork

Collins and PorrasCollins and Porras

• Vision v. StrategyVision v. Strategy– Vision: remains fixedVision: remains fixed– Strategy: Endlessly adapts to a changing Strategy: Endlessly adapts to a changing

worldworld

• Collins & Porras v HandyCollins & Porras v Handy

Collins and PorrasCollins and PorrasVisionVision: : provides guidance about what core to

preserve and what future to stimulate progress towardCore ideologyCore ideology: defines what we stand for

and why we existCore values: essential and enduring

tenets of an organization Core Purpose: Organization’s most

fundamental reason for existence Envisioned FutureEnvisioned Future: what we aspire to

become, to achieve, to createBHAG: clear, compelling focal point of

effort, catalyst for team spiritVivid Description: vibrant, engaging, and

specific description of what it will be like to achieve BHAG

Core Values / Values Core Values / Values StatementStatementValues Statement• Statement of ethical priorities• Standards of behavior and

practicesCore Values• Essential and enduring

tenets of an organization• Timeless guiding principles

Envisioned Future / Mission Envisioned Future / Mission Mission StatementsMission Statements• Purpose of the companyPurpose of the company• Basis of competition and Basis of competition and

competitive advantagescompetitive advantages• Means by which the firm will Means by which the firm will

competecompeteEnvisioned FutureEnvisioned Future• Audacious goal plus what it Audacious goal plus what it

will take to achieve the goalwill take to achieve the goal• Tangible, energizing, highly Tangible, energizing, highly

focused focused • Unifying focal point of effortUnifying focal point of effort• Clear finish lineClear finish line

Hierarchy of Defining Hierarchy of Defining StatementsStatements

Values StatementValues Statement