What are some best practices for reviewing and updating your vision and mission statement? (2024)

Your vision and mission statement should not be a static document that is written once and forgotten. It should be reflective of the changing needs and expectations of customers, employees, partners, and society, as well as align with your current and future capabilities, opportunities, and challenges. Regularly reviewing and updating your vision and mission statement can help you stay focused on your core values and purpose, adapt to the external and internal environment, inspire and motivate your team and stakeholders, communicate your unique value proposition and differentiation, and evaluate your performance and progress.

There is no set rule for how often you should review and update your vision and mission statement, but some common triggers are significant changes in your market, industry, or competition; major shifts in customer needs, preferences, or behavior; new developments in products, services, or technology; organizational growth, expansion, or restructuring; feedback from team, customers, or partners; and changes in your vision, mission, or goals. Additionally, you can conduct a periodic review of your vision and mission statement as part of your strategic planning cycle, such as annually or quarterly.

Reviewing and updating your vision and mission statement is not a task to be taken on alone. It requires the input of key stakeholders, such as leadership, employees, customers, and partners. To begin, gather feedback and data from stakeholders on how they perceive and relate to your vision and mission statement, and how it influences their actions and decisions. Analyze the feedback and data to identify the strengths and weaknesses of your vision and mission statement, and the gaps and opportunities for improvement. Then, brainstorm and draft a revised statement that addresses the feedback and data and reflects your current and desired state. Validate and refine the revised statement with stakeholders, ensuring it is clear, concise, and compelling. Finally, communicate and implement the revised statement across your organization, and integrate it into your strategic planning and execution.

When reviewing and updating your vision and mission statement, it is important to be aware of the potential risks. Changing your statement too often or drastically can confuse and alienate stakeholders, while keeping it too vague or generic can dilute your identity and fail to inspire. Additionally, making your statement too unrealistic or unachievable can demoralize your team and set you up for failure. Lastly, ignoring or contradicting your statement in your actions and decisions can erode your trust and create a disconnect between your words and deeds.

Illustrating the importance and impact of vision and mission statements, some well-known organizations have clear and compelling statements. For example, Amazon's is to be Earth's most customer-centric company, Google's is to organize the world's information and make it universally accessible and useful, Starbucks' is to inspire and nurture the human spirit, Nike's is to bring inspiration and innovation to every athlete in the world, and TED's is to spread ideas that matter.

Strategic Planning

+ Follow

Thanks for your feedback

Your feedback is private. Like or react to bring the conversation to your network.