Definitions

Mission statement

Mission statement

A mission statement is a brief statement of the purpose of a company, organization, or group. Companies sometimes use their mission statement as an advertising slogan, but the intention of a mission statement is to keep members and users aware of the organization's purpose. In the case of public commercial companies, the primary purpose must always be to uphold the interests of shareholders, whatever the mission statement.

Structure of a mission statement

The following elements can be included in a mission statement. Their sequence can be different. It is important, however, that some elements supporting the accomplishment of the mission be present and not just the mission as a "wish" or dream.

  • Purpose and values of the organization

(products or services, market) or who are the organization's primary "clients" (stakeholders)

  • What are the responsibilities of the organization towards these "clients"
  • What are the main objectives supporting the company in accomplishing its mission

A mission statement explains the company's core purpose and values.

Stakeholder conflict resolution

The mission statement can be used to resolve differences between business stakeholders. Stakeholders include: employees including managers and executives, stockholders, board of directors, customers, suppliers, distributors, creditors, governments (local, state, federal, etc.), unions, competitors, NGO's, and the general public. Stakeholders affect and are affected by the organization's strategies. According to Vern McGinis, a mission should:
Define what the company is
Define what the company aspires to be
Limited to exclude some ventures
Broad enough to allow for creative growth
Distinguish the company from all others
Serve as framework to evaluate current activities
Stated clearly so that it is understood by all

See also

References

  • Haschak, Paul G. (1998). Corporate statements: the official missions, goals, principles and philosophies of over 900 companies. Jefferson, N.C: McFarland.
  • Hughes K. et al (2005). IT Fundamentals. Tertiary Press. Croydon, Victoria. ISBN 0-86458-488-1.

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