Mission statement

A mission statement is a statement of the purpose of a company, organization or person; its reason for existing; a written declaration of an organization's core purpose and focus that normally remains unchanged over time.

Properly crafted mission statements (1) serve as filters to separate what is important from what is not, (2) clearly state which markets will be served and how, and (3) communicate a sense of intended direction to the entire organization. A mission is different from a vision in that the former is the cause and the latter is the effect; a mission is something to be accomplished whereas a vision is something to be pursued for that accomplishment. Also called company mission, corporate mission, or corporate purpose.[1]

The mission statement should guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-making. It provides "the framework or context within which the company's strategies are formulated." It is like a goal for what the company wants to do for the world.[2]

According to Bart Christopher,[3] the commercial mission statement consists of three essential components:

  1. Key market: Who is your target client or customer (generalize if needed)?
  2. Contribution: What product or service do you provide to that client?
  3. Distinction: What makes your product or service unique, so that the client would choose you?

See also

References

  1. ↑ "What is a mission statement? definition and meaning". BusinessDictionary.com. Retrieved 4 February 2015.
  2. ↑ Hill, Charles; Jones, Gareth (2008). Strategic Management: An Integrated Approach (8th Revised edition). Mason, OH: South-Western Educational Publishing. p. 11. ISBN 978-0-618-89469-7.
  3. ↑ Bart, Christopher (July 1997). "Industrial Firms and the Power of Mission". Industrial Marketing Management 26 (4): 371-383. doi:10.1016/S0019-8501(96)00146-0.

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