Aligning Your Business Mission With Long-Term Strategic Goals

Every organization exists to achieve some purpose-driven outcome. However, while homing in on a mission statement is much like having a compass in hand, success ultimately depends on the roadmap used to get there. It’s impossible to fulfill a company mission without laying out explicit, strategic, long-term objectives. After all, combining intent and a plan of action is the key to continuous growth and staying relevant in a competitive market.

The Importance of a Clear Mission Statement

A McKinsey report indicates that 70% of employees define their purpose through their work, and corporate leaders play a critical role in helping them uncover it.

A strong mission statement pinpoints a company’s purpose and creates brand identity. It enables better decision-making for an organization to progress and encourages teams to contribute to something of great importance. A defined purpose also sets organizations apart from the rest and attracts and retains top talent who share similar values and ambition.

Mission statements underscore a company’s priorities, values and desired results. They also suggest how these components influence workplace culture and innovation. Consider Microsoft, whose mission is to empower every person and business to accomplish more. The company has committed itself to expanding economic opportunities, creating a safe digital environment, supporting people’s fundamental rights and advancing sustainability.

Crafting Strategic Long-Term Goals

A fulfilled mission hinges on the comprehensive strategy leaders craft. It’s important to zero in on the company’s long-term objectives, often referred to as SMART goals — specific, measurable, achievable, relevant and time-bound. Studies indicate that those who set SMART goals achieve better attainment and gratification than those who don’t.

An organization’s strategic plan must explore its strengths and shortcomings, allocate resources effectively, and identify future opportunities and risks. Most importantly, a sound strategy establishes benchmarks to monitor performance, progress and room for improvement.

Merging Mission and Strategy for Business Growth

Aligning the company’s mission statement with its strategy for sustained growth ensures a uniform purpose, enhances motivation and commitment, and has everyone working toward the same goal. For this to happen, leadership must embody the mission statement in their work and guide team members through the strategic plan.

Reiterating the objectives to employees, managers, investors and customers will keep the company on track. This means organizations should champion their mission and strategy for greatness everywhere, from their online presence to internal and external communications. Ensuring investors and customers understand how the company is progressing toward mission fulfillment will also build trust, loyalty and confidence in the brand.

Companies should review their mission statements and strategic plans regularly and make adjustments as needed. As the business landscape and markets evolve, a company’s purpose and objectives must adapt, as well. 

Mission-Strategy Alignment in Action

Several organizations have reaped the rewards of a well-aligned mission and strategy. Meanwhile, those who’ve failed to home in on their purpose and modify their long-term plan of action have struggled to stay afloat. 

Case Study 1: John Deere

John Deere — a global manufacturer of agricultural equipment and machinery — lives and works by its core mission: creating innovative equipment that allows people to progress and be more productive. Its purpose also leans into environmental sustainability, producing technological solutions for tomorrow’s problems.

It’s certainly achieving this while integrating the Internet of Things with smart machinery for entirely autonomous production. Cutting-edge tools help farmers increase operational efficiency for maximum yields and collect real-time insights for optimal soil fertility, weather forecasting and crop health.

For continued growth, John Deere intends to conduct more demonstrations of its equipment, make machinery easier to use, eliminate challenges for adopting connectivity and enter new carbon markets.

Case Study 2: Kodak

Kodak revolutionized consumer photography, making cameras accessible to the masses. However, as technology advanced and digital cameras emerged, the company failed to alter its mission and long-term objectives.

Eventually, Kodak fell behind its competitors and filed for bankruptcy in 2012. A year later, Eastman Kodak reappeared as a much smaller company with long-term objectives for commercial print solutions, packaging, and manufacturing of specialized materials and chemicals for various industries.

Creating a Positive Impact Through Mission-Driven Strategies

Organizations can make a positive impact on the world when they align their mission statement and long-term objectives. Leaders should assess their existing mission-strategy alignment and make the necessary improvements to reach their goals and succeed.