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Corporate Strategy

Clarity On Corporate Values, Missions And Ideals


Corporate Mission Vision Values Ideals

A couple
of weeks ago, I attended a meeting at a private bank in Beijing, China. I had
taken a copy of my book, The Global Brand as a gift, but that proved
unnecessary. Not only had our contact already bought a copy, he had also bought
a copy of Jim Stengel’s Grow. And subsequent questions not only
proved he had read the books, but he was already actively trying to apply the
learning to his business.

My reason
for being at the meeting was to share the ValueDrivers framework and
demonstrate that it applies just as well to financial services brands as to any
other brand. But before I had finished outlining the need for a brand to have a
clear purpose, the first element of the framework, I was asked how this fits with
vision, mission and ideals.

It is an
excellent question and one that I struggled to answer easily at the time. I
ended up scribbling down a matrix in my notebook and we filled the subsequent
pages with diagrams, trying to clarify how the different aspects of corporate
mindset fit together. A clarified version of the matrix is shown below.

Corporate Mission Vision Values Ideals
Like any
simplification the matrix forces clarity, when in practice, things tend to blur
together. But I think that the key dimensions do help identify where the
different elements fit.

The first
axis of the matrix looks at whether the impact of the element is internal or
external. Does it apply to the company or to the people who buy the company’s
product or service? The second axis identifies whether the influence is
functional i.e. what the company does on a daily basis or whether it is
aspirational (what the company intends to achieve in the future). In a way,
this parallels the functional and emotional benefits of a brand. Because both
of these are concerned with the future, I believe they can both be encompassed
by what some call vision. 

Where do
corporate values fit? To my mind, these underpin the intent.They determine how
the brand goes about its business. Does it really respect its customers and
consumers and treat them fairly? Does it really have their best interests in
mind or is it only about the profit that can be made from them?

So what do you
think? Does this serve to clarify how these different elements fit together or
obscure it? Please share your thoughts.

Contributed to Branding Strategy Insider by: Nigel Hollis, Chief Global Analyst Millward Brown

Sponsored by: The Mission Vision Values Workshop

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