Vision and Mission Statements-Powerful Tools or Pure Baloney

Vision and Mission statements are popular management tools. They are prominently displayed on the walls of the corporate office, web sites and in annual reports. CEOs wax eloquently on them in meetings and conferences. Organizations have Vision and Mission statements because they have the potential to answer important questions, guide decision-making and inspire employees. However the effectiveness of these statements have been questioned and there appears to be some confusion on what is a Vision statement and what is a Mission statement. The paper looks at various definitions of Vision and Mission, and the varying perspectives in their usage. The results of an exploratory study, on the perception of Indian managers, on the effectiveness of these statements are analyzed and discussed. The paper concludes with suggestions on how organizations could build effective vision and mission statements.