When planning the mission and vision of your company, what should you consider?

You should set your mission and vision based on the Strategic objective of the Company, and should consider the strengths of the companies, what need to be changed across the long term for your vision, and for your mission should consider your current state and the reason why your company exist .

Your statements should be written in clear and inspirational way to your employees. 

In simplfied term,  a Vision statement is one that enroped the goals and objectives of the organizattion. It is one that has an infinite time line. While a Mission statement is one that will direct and execute the work towards achieving the Vision. Taking into consideration all the resources available. Both statement must be realistic, achievable and measureable. Both statement must be simple for all level of personnel to understand and that each will realized their role to play as a entire team. a simple scenario is if you have a Vision to unite all nations, you now have to set your Mission in motion to achieve this vision.

You should first determine a specific goal and then consider both the internal (within the company) and external (politics, regulations, etc) environment and factors and acknowledge them either as challenges or constrains and then plan accordingly for both the long and short run.

Knowing why you are doing what you are doing (the mission), where you are trying to go (vision) and how you are going to go about it (values) are the glue that holds the organisation together.

This is an essential part when building strategic foundation and developing strategy. While  strategies and goals change company  preserves those values.

It should be less cost and It should be profitable and the plan should understand toeveryone

When planning the mission and vision of the company is considering the financial possibilities available and the human element, efficiency and targets to be achieved and corporate competition and market requirements, product quality and the type of client.

Mission is something you have to do and achieve and complete.  The key inputs for the mission statement will be derived from the strategy, SWOT analysis, the uniqueness of your product or company that others dont have.  Mission statements have to be in the present tense telling people what you will do and how and why do you even want to exist.  Something that is a map for all to follow and reach somewhere.  Also, you need to know how you will measure your success becuase otherwise how do you know you hve succeeded in your mission and its completed.

Vision for me is the dream you are chasing.  Timeless and somewhat abstract without specifics and no boundaries.  What you need as an input to write a Vision statement is the human connection.  How are you going to change a human beings' life or a bring something new in the society.  Why should people come to you or buy your product.  It should also speak a bit about the values the employees share or you want them to share throughout the journey.

Both statements sound the same to a lot of people.  But those who are serious and sorted out about what they want to achieve from their company or team, would know how to write them and make them look different.  Its a fantastic experience to write these for a new or an old company you are trying to revamp.   But mind you, one person cannot do it unless he is the topmost guy.  its always better to consult your stakeholders, employees, maybe even your lowest ranking employee.  after all the statements are going to be affected by each and every employee working with you.  the call at the end is yours once you have all the inputs.  its a long process of editing it again and again till you extract inspring, motivating, meaningful power statements.