The Importance of Mission & Vision Statements
Most recollect that Mission & Vision Statements are a marketing tool or a device used to enhance the company’s image when it is actually aligned as Strategic Management. These statements are the fundamental reason for the organization and should be communicated and engrained into the collective consciousness of the employees as well as the customer. It is true that Mission & Vision Statements can contribute to the bottom line, but that effect is attributed to the efficiency these statements bring to the organization. When you align the entity to the beliefs of what you do and where you want to be, the result is an efficient organization operating from a communicated blueprint of the business. When these core philosophies are learned and practiced, less time is needed for staff counseling and more time can be devoted to workforce development of new technologies and innovations.
There are no formal studies to gauge the influence of the Mission & Vision Statements and the exact effects their implantation may cause, as there is no formal study linking an absence of a company’s Mission or Vision Statement [or misaligned statements] and the effect this may have on a business. Much like a Resume, Mission & Vision Statements communicate demonstrated capabilities, also the potential the business may have. It has only been in the last few decades that the practices of implementing these statements have become standard procedure in the corporate world, and their usage is continuing to increase. Investors, governmental agencies, and even prospective customers are starting to research Mission & Vision Statements for consideration of a possible relationship. It behooves any executive, director, or manager to institute such practices to align their companies with the 21st Century, not only for morale or to maintain a competitive edge–but also to increase the efficiency of the business.
Theories on the creation of Mission & Vision Statements are postulated as an art form that varies among industry leaders, but a common theme is that they should constitute the true core values of the organization as well as its intent and future endeavors. These statements will not only be the slogans of the organization but also the foundation from which the business will be built, and a blueprint for future growth. It’s important for these reasons that these statements should be dynamic and not static, and reassessed at various intervals, as the company grows or changes. Just as a map has many different roads or paths to navigate, the directive of the Mission & Vision Statements should be amended as the organization evolves. Mission & Vision Statements can be lengthy and are sometimes perceived as ‘dry’, but there are many corporations and small businesses that extrapolate from these statements to create aphorisms in the form of logos or tag lines.
Disruptive Technology: 3D Printing
3D Printing is a technological innovation that permits the manufacture of a product from a single or multi-medium material to be created in a three-dimensional form. The novelty of this product has gone beyond the trivial entertainment of its current possibilities such as the DYI (do-it-yourself) user and has increased to probable medical advances as well as the possibility of enhancing business operations. This technological trend will only increase due to the possibility of putting the manufacturing or creation in the hands of the company, medical professional, and/or the home user. There are various potential opportunities that its usage may benefit humankind from as well as the benefit to the sustainability of the earth.
3D Printing is one of the ‘disruptive technologies’ that is anticipated to grow $200-600 USD dollars [per unit or What metric belongs here? ] worldwide, and this technology will impact consumption patterns by creating new products and services, with an increase in productivity potentially leading to global wealth. One area this is forecast to effect is in personal usage, which will increase due to the surge in demand for the manufacturing of household items.
Perhaps the most promising of these possibilities is the creation of nano-technology manufactured by these printers which may revolutionize the healthcare industry by prolonging life expectancies and increasing the quality of life. Current research and development is being conducted to make microscopic robots that could regenerate human cells. The bio-printing process is currently being tested by creating human liver cells that are more readily accepted in the body rather than synthetic cells that may be rejected by the immune system. These cells also have the capability to be reproduced or reproduce with current liver cells and thus healing or correcting issues within the organ. Other possibilities for combating diseases known to plague mankind such as HIV, cancer, and Alzheimer’s are now being considered by this bio-technology.
3D Printers are also being considered to make businesses more efficient as to adhere to the Just-In-Time-Inventory principles that decrease shipping times, overhead, and production logistics. Businesses will have the ability to email a product to another company or customer that the individual can send to his/her printer to be manufactured. The almost immediate delivery upends the need for a middle man—the product goes directly from the company to the home or office instantaneously. Mass production or generic products will decrease with the capability of customization these printers will offer. An article in the Harvard Business Review anticipates that not only will companies have to rethink their delivery and supply channels, but countries like China will have to concede their prominence as the world’s top? manufacturer. This not only has a beneficial influence on the earth’s carbon footprint, but could bring about drastic international political changes.
This technology is expected to revolutionize the daily operations in modern life much like personal computers did in the last few decades. The 3D Printer may just be the catalyst to carry us out of the global recession due to its versatility, multiple-use, efficiency and the added benefit of decreased competition within companies to produce their own product. Forbes Magazine predicts that the demand for these printers will rise to 106% by 2018, further solidifying the adoption of this technology into society.
Why Marketing? Why Now?
Marketing can be perceived as a sundry compliment to a business, and few realize how significant and effective it really is. Marketing is the voice of your organization as well as your image, and your existence. Usually, the first cut or restricted line item in the budget is advertising, commonly mistaken as a cost-effective reduction. To equate this belief, one can ponder, “Would a phone order business turn off their phones? Would a storefront black out their windows and lock the doors?” Marketing is needed most during the seasonal downtimes; it reiterates “I Am Here!”
Currently, the average American is bombarded with advertising campaigns that can assault one’s senses but with strategic planning and targeted messaging a campaign can increase brand awareness as well as revenue. Most marketing is to remind the consumer or prospect that your product or service still exists. An example of this is the Coca-Cola vs. Pepsi ads and how they evolved over the years to put more emphasis on the product as a lifestyle choice than the actual quality and taste of the product. Also, how many times have you forgotten to think about your favorite local restaurant until you come across their promotion, and experience an “Oh, yeah, I like that place” moment?
Your slow season, downtime, and the beginning of the year are largely dependent upon your marketing strategy. It is your bloodline, and your business shouldn’t be constricted by the belief that cutting costs on advertising is saving money. In a world where everyone uses their electronic devices to interact, remind them of appointments, as well as communicate—marketing campaigns are becoming savvier to these behaviors and companies that are recognizing this trend are gaining the competitive edge.