Issue link: https://www.e-digitaleditions.com/i/414972
22 FEDA News & Views Preparing for 2015 continued continued on page 30 Need We Say More? THOSE WHO KNOW CHOOSE VICTORINOX. Visit us at the NAFEM Show Booth # 4005 To learn more about our products, email us at cutleryinfo@swissarmy.com or call (800) 243-4032 • ADF14073_FEDA_Half_Pg_Ad_7.25x4.25_FINAL.indd 1 9/26/14 1:37 PM Once you have completed your external and internal assessments, you are now ready to move on to a very critical component of the planning process, the identification of your organization's core values and the development of an organizational mission and vision. Core values are the underlying principles that guide an organization in all of its actions, and drive all decision making. In essence, they are an organization's guiding light. Numerous and extensive studies have shown that organizations who have identified, publicize, and "live" their stated core values significantly out- perform those organizations that do not. Many organizations think that mission and vision are one in the same. Nothing could be farther from the truth. A mission statement's purpose is to let all of the internal and external constituents of an organization know what business you are in and why. A vision statement basically paints a realistic and obtainable picture of what you want your organization to look like or where you want it to be at some point in the future—usually three to 10 years down the road. Organizations cannot develop an effective, realistic, and obtainable vision until they have thoroughly analyzed their external and internal operating environment. Once again, numerous studies have shown that the development of a comprehensive and constantly communicated vision is the single most important key to the success of an organization. In essence, it lets everyone know exactly what direction the organization is heading and why. It's a vehicle that allows everyone to become part of something that is significantly bigger than the individual parts. And let's face it, most people are much more effective and productive when they know that their day-to-day efforts are geared toward a long-term objective. Every year in the spring, Fortune magazine publishes two articles that I believe tell the story of the importance of having a good vision. The first article is normally entitled "The Top 100 Companies to Work for in America." The underlying golden thread that exists in all of these top companies is that there is a clearly articulated and long-term vision that employees can rally around. The second article is "The Top 100 Profitable Companies in America." It's interesting to note that the companies that appear on this list are almost identical to the ones that appear on "The Top 100 Companies to Work for in America" list. Coincidence? I certainly don't think so. There definitely is a very strong link between companies that have a clearly articulated vision. Lastly, since the vision is in essence the long-term goal of an organization, all activities and decisions that an organization makes should be made in reference to and in the context of its vision. Each company should also develop a customer value proposition (CVP). A CVP is a clear and compelling reason why customers should be doing business with you. If you don't have