Setting the Direction of a Business Requires

Social Responsibility (Photo credit: AlphachimpStudio)

Setting the direction of a business requires defining three essential aspects:

1. Values
2. Mission Statement 
3. Vision 

1. VALUES

Values are principles which are very innate to an organization and only the company itself can identify and define it well. Values motivate the company to follow its mission statement and further to define its policies, procedures and daily operations. 

Values of some local Pakistani companies are given below to help your company in defining its own values:

• KESC (Karachi Electric Supply Company)

• Thought Leadership
• Knowledge Based Learning
• Values
• Social Responsibility

• Lakson Tobacco Company Limited

• People
• Excellence 
• Customer Focus
• Teamwork
• Openness
• Innovation
• Diversity
• Responsibility

• Nirala

• Continuous Improvement 
• Innovation
• Integrity
• Teamwork
• Social Responsibility

• Telenor

• Make it Easy
• Keep Promises
• Be Inspiring
• Be Respectful

• Pakistan International Airlines (PIA)

• Customer Expectations
• Service
• Innovation
• Cohesiveness
• Integrity
• Reliability
• Safety

• Junaid Jamshed

• Products 
• Customers
• Indigenous Cultural Values
• Quality
• Innovation
• Integrity

2. MISSION STATEMENT

A mission statement is a very critical statement for an organization since it defines the framework structure upon which the company operates. It is a short documented statement and usually contains the purpose/ goal of the organization, its principal stakeholders, and the services and the products that the company is offering. It tells how a company is going to achieve its vision statement.

Some companies tend to not mention their services (as can be seen in the mission statement of PTC below) so as not to restrict their operations and to expand to other areas if possible: 

• Pakistan Tobacco Company

"Transform PTC to perform with the speed, flexibility and enterprising spirit of innovative, consumer focused company"

• Haleeb Foods

"Build branded food business to improve quality of life by offering tasty, affordable and highly nutritional products to our consumers while maximizing stake holders' value"

3. VISION

A vision statement defines where the organization would ultimately like to see itself. The vision statement is for the company itself and should motivate the employees to put in every effort to achieve it. Hence it should be a worthy goal. 

Here are a couple of vision statements. Compare the two and decide which one is better (although even the better one can substantially be improved)

• Pakistan Telecommunication Company Limited (PTCL)

"To be the leading Information and Communication Technology Service Provider in the region by achieving customer satisfaction and maximizing shareholders value. 

The future is unfolding around us. In times to come, we will be the link that allows global communication. We are striving mobilizing the world for the future. By becoming partners in innovation, we are ready to shape a future that offers telecom services that bring us closer"

• Dawlance

"We are commited. Above everything else, Dawlance places its top priority on the satisfaction of human being the satisfaction of its customers, partners and employees. All our policies and approach towards revolve around our corporate belief"