Mission statement is :
- a declaration of an organization’s “reason for being.”
- answers the pivotal question “What is our business?”
- essential for effectively establishing objectives and formulating strategies
- reveals what an organization wants to be and whom it wants to serve
- Also called a creed statement, a statement of purpose, a statement of philosophy, a statement of beliefs, and a statement of business principles
The Importance of Vision and Mission Statements:
- To ensure unanimity of purpose within the organization
- To provide a basis, or standard, for allocating organizational resources
- To establish a general tone or organizational climate
- To serve as a focal point for individuals to identify with the organization’s purpose and direction
- To facilitate the translation of objectives into a work structure
- To specify organizational purposes
Mission Statement Components
- Customers
- Products or services
- Markets
- Technology
- Concern for survival, growth, and profitability
- Philosophy
- Self-concept
- Concern for public image
- Concern for employees
