Why are vision and mission statements important for a business?

Why are vision and mission statements important for a business?

Vision and mission statements provide direction and purpose, guiding decision-making and aligning the team.

Can you give me examples of effective vision and mission statements?

Sure! For example, Tesla's vision is "to create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles." Their mission is "to accelerate the world’s transition to sustainable energy."

How often should a company revisit its vision and mission statements?

It's advisable to revisit them every few years or during major changes in the company to ensure they remain relevant.

What happens if a company doesn't have these statements?

Without vision and mission statements, a company may lack direction, leading to confusion and misalignment among employees.