The Business Bulletin
SME Survey Are vision, mission and values statements important/ relevant for small business? It might be worth just clarifying
As can be seen in figure 1, less than
business that could help with focus,
the difference between a vision and
half had the “full set” of statements
direction and strategy. Having such
mission statement before diving into
and 17 respondents had nothing at all.
statements in place also helps attract
the survey; as there is sometimes confusion. A vision should outline where you want your organisation to be or how you want to be perceived in the domain in which you operate - this could be an idealised view of the world from your perspective. It’s a long-term view and concentrates on the future. It could be the basis of why you’re in business.
employees and stakeholders in the
Interestingly though, 80.9% deemed these statements to be
business that can align behind them.
important (see figure 2). So the
If you don’t have any of these
final aspect of the survey was to
statements for your business, they
understand why those surveyed
can help you make choices within
responded as they did. Of those
your business because your choices
that indicated that such statements
should be in line with the statements
weren’t important, the consensus
you have made. Why not give it a try?
was that such things are more for corporate businesses, that a small
Mission statements define the
business’s focus should be on more
fundamental purpose of a business;
practical things and that if a business
briefly describing why it’s in existence
plan is in place, arbitrary statements
and what it does to achieve the vision.
make little difference.
It’s more practical than a vision as it could contain how the vision is going to be implemented.
The “don’t knows/unsure” emulated some of what was said above, but for some the importance had not been
The intention of this survey of 47
considered or it was on the “things
respondents was to establish what
to do pile”! The majority of those
small business owners’ opinion was
that deemed having statements as
with regard to vision, mission and
important, broadly speaking, thought
values statements.
they provided a foundation for the
Figure 1
46 | Issue 16 – Strategy and Personal Development
Figure2
Get involved To take part in the next survey about your turnover – visit here: https://forms.gle/ DzwsuorcQzoJSMdq7. The results will be shared in the next edition of this magazine.
