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Purpose, Vision & Mission: They Are Different

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How purpose fits into the world of a vision and mission.

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Purpose, Vision & Mission: They Are Different

  1. 1. 18-Nov-23 1 What’s the Difference? Vision is where an organization is trying to get to. It’s the end state that is often unattainable but both aspirational and inspirational. “To be the bank that defines great customer experience”, is something aspirational but never achieved, as experience is constantly evolving. Mission is what an organization is trying to get done, to achieve. It takes the vision and makes it actionable. In which activities an organization should invest, is defined by the mission, and include geographical, technological and operational investments, as well as which customer segments to focus upon and the needed capabilities, people & culture. Strategy is how an organization will achieve it’s mission. While mission identifies in what to invest, the strategy determines how. As organizations pursue more digital engagement with their customers, mission may define whether to invest in cloud or bots or “launch- platforms” (eg. WeChat), where as strategy would define what to develop internally versus 3rd parties, to ensure future scaling capabilities. Purpose is inherently the question of why an organization does what it does. It links two fundamental questions of “who are we”, identifying authentic and distinct strengths, and “what need do we fulfill in society”, identifying why customers and employees would want to give us our their time and money?
  2. 2. 18-Nov-23 2 Case Study: Patagonia With strong roots in the climbing world, Patagonia and their leadership are committed to bring the values and mantra of the climbing, and outdoor enthusiast to the world. It is reflected in their mission statement. There purpose is about connecting with the outdoors, to better people’s lives. Their mission is to “build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.” In 2011, Patagonia launched the “Common Threads Initiative”. In a pursuit of their mission to “cause no unnecessary harm”, the facilitate the free repairing of over 30,000 items over 18 months, so customers would not be required to buy a new jacket. And they marketed the program heavily. o Sales in 2012 increased by 30% or $540 million USD

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