Original Research

The importance of a vision and mission for small, medium-sized and large businesses

JL van der Walt, J Kroon, BJ Fourie
South African Journal of Economic and Management Sciences | Vol 7, No 2 | a1373 | DOI: https://doi.org/10.4102/sajems.v7i2.1373 | © 2004 JL van der Walt, J Kroon, BJ Fourie | This work is licensed under CC Attribution 4.0
Submitted: 27 April 2004 | Published: 28 April 2004

About the author(s)

JL van der Walt, North-West University
J Kroon, North-West University
BJ Fourie, North-West University

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Abstract

Although the vision and mission are important to the strategic planning of a business and much time and effort are spent on their formulation, they aren’t used as planning instruments. The purpose of this paper was to determine whether management understands the vision and mission as complementary concepts and whether they use them effectively in the planning process. This study was conducted by sending questionnaires to businesses in the Gauteng Province where most SMEs in South Africa are situated. Findings confirmed that the majority of businesses, especially small businesses, can distinguish between and have visions and missions, but do not apply them optimally in strategy implementation. Recommendations include that businesses should have a written vision and mission statement, which should be communicated effectively and applied in planning and strategy implementation.

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Crossref Citations

1. Enhancing performance in small professional firms through vision communication and sharing
Fenwick Feng Jing, Gayle C. Avery, Harald Bergsteiner
Asia Pacific Journal of Management  vol: 31  issue: 2  first page: 599  year: 2014  
doi: 10.1007/s10490-013-9345-9