"What's the vision statement of Tata Motors?" T.J. asks. "And how did they come up with it?" The vision statement of Tata Motors Limited, India's largest automobile company, is to be "best in the manner in which we operate, best in the products we deliver, and best in our value system and ethics." Now, I can't quibble with Tata Motors' success (the company had consolidated revenues of USD 20 billion in 2009-10. Read more about Tata Motors here), but their vision statement is not a very good example of one. For one thing, it's rather meaningless. Chanting "We want to be number one" would be just as inspiring. For another, it's not a vision statement at all, but a mission statement. What's the difference? A mission statementarticulates a company's purpose. It announces to the world at large why your company exists. Avision statement focuses on a business's future; it articulates your dreams and hopes for your business. Think of it this way; a mission statement answers the question "Who are we?" and the vision statement answers the question "Where are we going?" That's why businesses need both mission statements and vision statements, the first to inform the public and the latter to inspire themselves. Does your small business have a mission statement and a vision statement? These resources will help you write one or both if you need to or give you sample mission statements and sample vision statements you can compare yours to to see if yours needs a little sprucing up.
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