— John Naisbitt, Author of “Megatrends”
The Vision, Mission, Objectives, and Business Description Chapter 2
Copyright ©2000 Sutia Kim Alter. This work is licensed under the Creative Commons Attribution-Share Alike 3.0 License (http://creativecommons.org/licenses/by-sa/3.0/)
Chapter 2 Chapter 1
“Strategic planning is worthless— unless there is first a strategic vision.”
The Vision, Mission, Objectives, The Vision, Mission, Objectives, and Business Description and Business Description
— John Naisbitt, Author of “Megatrends”
O
verview: The overriding challenge to managing a social enterprise is balancing business objectives with social objectives. The final goal of your program is to improve the lives of your target population through new or value-added economic opportunities. On the other hand, you are tasked with making your social enterprise (totally or in part) financially viable. In the private sector the bottom line is very clear: to increase the company’s value for its shareholders, in other words, to make money. Social enterprises have two bottom lines—a financial and a social one—and the culture of one is very different from the other. Many development professionals fear compromising their social objectives by succumbing to pressure to increase the income of their enterprise. The irony, however, is that by focusing solely on achieving social objectives, they put their entire program at risk because it may not be sustainable in the future. So how does one maintain equilibrium between these seeming polar opposites? A clear vision and mission statement, objectives, and business description are important points of departure. The vision is what guides your social enterprise and energizes your stakeholders; it is the “big picture” illustrating what you expect to achieve. The mission statement defines who you are and where you are going. The objectives give you tangible milestones by which to get there. Finally, the business description summarizes your business profile and asserts what
Copyright ©2000 Sutia Kim Alter. This work is licensed under the Creative Commons Attribution-Share Alike 3.0 License (http://creativecommons.org/licenses/by-sa/3.0/)
Chapter 2 Chapter 1
“Strategic planning is worthless— unless there is first a strategic vision.”
The Vision, Mission, Objectives, The Vision, Mission, Objectives, and Business Description and Business Description
— John Naisbitt, Author of “Megatrends”
O
verview: The overriding challenge to managing a social enterprise is balancing business objectives with social objectives. The final goal of your program is to improve the lives of your target population through new or value-added economic opportunities. On the other hand, you are tasked with making your social enterprise (totally or in part) financially viable. In the private sector the bottom line is very clear: to increase the company’s value for its shareholders, in other words, to make money. Social enterprises have two bottom lines—a financial and a social one—and the culture of one is very different from the other. Many development professionals fear compromising their social objectives by succumbing to pressure to increase the income of their enterprise. The irony, however, is that by focusing solely on achieving social objectives, they put their entire program at risk because it may not be sustainable in the future. So how does one maintain equilibrium between these seeming polar opposites? A clear vision and mission statement, objectives, and business description are important points of departure. The vision is what guides your social enterprise and energizes your stakeholders; it is the “big picture” illustrating what you expect to achieve. The mission statement defines who you are and where you are going. The objectives give you tangible milestones by which to get there. Finally, the business description summarizes your business profile and asserts what