- In this video we're gonna talk about mission, vision,
and specially the values an organization wants to uphold.
This is the third video in a three-part series
and we're going to emphasize the third part, values,
so let's get into the details.
(rock music)
At the end of this video I'm going to ask you
to list your top three or four values you want to live by
as a professional or as a team,
so keep that in mind as we go through this.
But first let's briefly recap the first two videos
in this three-part series for some context.
I'll put links to those videos on mission and vision
in the description below this one,
and if you've already watched those two videos
you can skip to the next part and go right to values.
Here's a recap.
A mission statement is a concise explanation
of what an organization does, its assignment.
Usually a mission statement has three parts.
It explains the why,
or the contribution or benefit
the organization is trying to make.
The who explains the intended customer or community
the organization wants to reach.
And sometimes it indicates the how,
the distinctive strategy or approach an organization takes.
So I'll put this in my own words by saying
that a mission statement is like a concise job description
for an entire organization
that focuses on its day-to-day activity.
So here's an excellent example of a mission statement
I referenced from an earlier video
from Heifer International, a nonprofit organization.
"The mission of Heifer International
"is to end hunger and poverty while caring for the Earth.
"Heifer does this by providing appropriate livestock,
"training and related services
"to small-scale farmers and communities worldwide."
If a total stranger walked up to a Heifer employee
and asked, "So, what does your organization do?"
This concise mission statement says it all for Heifer.
It explains the organization's why,
to end hunger and poverty.
Its who, small-scale farmers and their communities.
And its how, providing livestock, training,
and related services.
Next, a vision statement
is a concise statement that explains
what the organization wants the future to look like.
It describes the organization's overarching longterm goal.
In video number two in this series
we talked about the original vision statement for Netflix
from the CEO Reed Hastings.
That vision statement was,
"Becoming the world's best
"global entertainment distribution service."
It's very concise and it spells out exactly
where the CEO wanted the organization to go.
They wanted to be the world's best of its kind.
For lots of reasons,
many people are confused about the difference
between a mission statement and a vision statement.
So to keep it clear
it's best to think about a mission statement
as describing the day-to-day job description
of an organization,
and a vision statement is the longterm goal
of that organization.
The mission statement is focused on the present,
the vision statement is focused on the future.
In theory, the textbook approach to this would be
that an organization would spell out
its mission, vision, and values
really clearly on their website
and in any of the other corporate materials
and that these statements would all work together
in a cohesive way.
That's not always the case, but that's one approach.
And now let's turn to the topic of values.
Many organizations provide
both internal and external stakeholders
a concise explanation or a bulleted list
of the values the company wants to live by.
In short, corporate values explain
the guiding principles and beliefs
that help lead a team or organization
toward a common goal.
This is a lot like the personal values
that you hold dear in your own life.
You might want to be honest, hardworking,
and pursue excellence in everything you do.
Corporate values are the same,
except the organization would promote these core values
in an effort to get the entire group to take on these values
so that the whole enterprise is on the same page.
But just like in our own lives,
corporations do not always live by the values
they say they hold dear.
Sometimes organizations say they value one thing
but their behavior does something different.
But we will return to that issue
a little later in the video.
For the moment, let's look at some examples
from organizations that you may have heard of.
I talked about Wegmans in a previous video in this series,
and Wegmans is a respected grocery store chain
that has locations mostly in the Northeastern part
of the United States.
They have a great reputation
and on their website they state their values directly.
"We care about the wellbeing and success of every person.
"High standards are a way of life.
"We pursue excellence in everything we do.
"We make a difference in every community we serve.
"We respect and listen to our people.
"We empower our people to make decisions
"that improve their work
"and benefit our customers and our company."
You'll notice that these corporate values
don't say anything about a grocery store,
and that's not uncommon
in the value statements that you'll see from organizations.
Value statements are usually about the way
an organization wants to treat people generally
and how they want to do business generally.
Values are not typically industry-specific.
So let's talk about YouTube as a company.
Most of us think about YouTube as a place to watch videos
or, like me, post videos.
But it's also an organization that has values
that drive and motivate its leaders,
employees and decisions,
at least in theory,
and here are the corporate values I found about YouTube
as a company and as a platform.
YouTube values freedom of expression,
freedom of information, freedom of opportunity,
and freedom to belong.
Does YouTube as a company really live by
and uphold these values?
It's a good question,
but if you comment on that
I will stay out of the debate below.
In theory those are the values
that they at least say they are striving for.
Not all organizations will actually label these
in obvious ways as their corporate values.
They might just describe what the organization stands for
and what they're all about.
Heifer International, we mentioned earlier,
is a nonprofit organization
fighting to end hunger and poverty,
and on their website they call these
their 12 cornerstones.
But these are their values,
and I won't read them all off,
but these are the principles that drive and motivate
the way Heifer does business.
So whether they call them values
or cornerstones or core beliefs,
it's all the same concept.
Another organization I mentioned
in an earlier video in this series
was Oyster, a sailboat manufacturer.
They make high-end sailboats
that are meant to sail around the world.
Oyster doesn't have a bulleted list
of corporate values or cornerstones,
but they do talk on their website
about a deep sense of community.
This is the essential value that they hold dear.
They explain, "At the heart of Oyster are our people.
"Those who design and build these deck saloon yachts
"and those who own and love them.
"We think of ourselves as a family,
"inspired by each other,
"the stories we tell and the adventures we enjoy.
"I hope you will join us."
If you know what to listen for
you can hear that the value of community
is expressed in a couple of different ways.
They talk about their people who design and build the boats,
their customers who own and love the boats,
and they think of themselves as a family.
Those are all keywords that explain
this core value of community.
Whether it's a short or long bulleted list
or a narrative about what the company believes
is no right or wrong approach.
These are just different ways to communicate
the team's values.
Now let's turn back to an issue I mentioned earlier.
Just like in our personal lives,
we don't always measure up to the values
that we say we want to live by.
We may say we value honesty personally
but we may sometimes be dishonest,
even when we're trying.
And it's the same with organizations,
except that organizations are also under pressure
to establish a certain kind of reputation and public image.
It's a sad but true fact
that the fancy-sounding values of some organizations
on their websites and in their materials
have nothing to do with the actual way they do business.
An infamous example of this is the company called Enron.
The short version of the story
is that Enron was a controversial energy company,
that went bankrupt about 20 years ago
for a really long list of illegal,
unethical, immoral activities.
If there was a way to lie, cheat, and steal, Enron did it.
In retrospect, the corporate values published
in their company's materials were laughable.
They claimed that their corporate values were respect,
integrity, communication, and excellence.
That sounds good.
It spells out the acronym RICE, that was catchy.
The problem was that the company's leaders
didn't live by these values whatsoever.
Some of them went to prison.
And I'd like to say that Enron was an isolated incident,
but the corporate values that many organizations
say they follow
are not often consistent
with how their people actually do business
and how they treat each other in that organization.
This is one of the reasons why employees
sometimes get a little cynical about the values
that their organizations claim to live by.
I would say that most organizations
stick pretty closely to their mission
and they usually have a clear vision
that they actually are aiming for.
But when it comes to what they say they value
and how they treat people along the way,
many organizations fall short
of their own published principles.
I think that being honest about those shortcomings
is perhaps the first step in trying to do better.
So let's now turn to application.
If you had to list your top three or four values
that drive you personally,
what would they be?
Take a few minutes to think about that.
And if you're doing this with a team or organization,
what are the key values that you want to live by
as you do business?
If you have not yet watched the first two videos
in this three-part series on mission and vision statements,
I've put links to those videos
in the description below this one.
Feel free to check those out
because all three of these videos
are intended to be watched together.
Until next time, thanks, God bless,
and I will see you soon.